Ken Chigbo
Independent Analyst
- Bitcoin firmly breaks $4000 again to the downside, in latest drop.
- XRP bears are testing $0.3500 support, demand runs down to $0.3300 in the near-term.
- Ethereum smashes through $115 to the south, eyes will be on how $100 holds up.
The cryptocurrency market came under further selling pressure this afternoon on Monday, after starting the session on the back foot. A pick up in downside momentum has been observed, with questions being raised as to whether the bottom as actually been seen.
BTC/USD has firmly breached $4000 again to the downside, eyes will be on how $3500 mark holds up. XRP/USD testing recent demand area around $0.3500, support runs down to around $0.3300 near-term, ahead of a possible drop to $0.2500-0.2000.
Ethereum bears smashes through $115 to the downside, price trading around lows of the day at $107. Litecoin is testing $30 to the downside. There hasn’t been anything fundamental to attribute this latest drop to, however technical confluences do appear to remain stacked in the market bears favor.
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