Can Bitcoin and other top coins recover after today's fall or should one expect a continued drop?

Bears have smashed the bulls out of the market today as all of the top 10 coins are in the red zone.

Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has declined by 7.19% over the past 24 hours.

BTC/USD chart by TradingView

Bitcoin (BTC) has bounced back to the support zone at $60,000. The fall is supported by a high selling trading volume, which means that the decline may continue.

However, if bulls can consolidate and stay above the support, there is a chance to see the test of the recently formed mirror level at $62,294 by the end of the week.

Bitcoin is trading at $60,771 at press time.

ETH/USD

Ethereum (ETH) is the biggest loser from the list today as the rate of the native exchange coin has gone down by 8.19% since yesterday.

ETH/USD chart by TradingView

Ethereum (ETH) has also bounced off the support and is currently trading around the zone of $4,300. The volume is high, which means that the fall might not be stopped. In terms of the nearest price projection, the chief altcoin may test the zone at $4,500, followed by a continued decline.

Ethereum is trading at $4,301 at press time.

XRP/USD

XRP is not an exception from the rule, falling by 6.54%.

XRP/USD chart by TradingView

XRP has tested the zone of the most liquidity around $1.0787, followed by a fast bounceback.

At the moment, bears have seized the initiative; however, they need to break the vital support level at $1.01488 and fix below it to confirm their power against the bulls.

XRP is trading at $1.1080 at press time.