Crypto Market Update: Market bleeds as bears remain in cruise control
- The top three coins faced substantial bearish correction.
- Cardano (ADA/USD) was the biggest loser among the top 20.
The major cryptocurrencies continued to face bearish correction as markets opened this Tuesday. Monday was a bearish day as well, as all the major coins suffered losses. Let’s take a closer look at how the top three did and then reveal the biggest winners and losers of the day, among the top 20 coins.
Top three coins
- Bitcoin: BTC/USD fell from $11,535 to $11,385 this Monday. The price further fell to $11,353.40 in the early hours of Tuesday. The bulls will need to overcome the resistance at $11,535, to prevent any further drop in price.
- Ethereum: ETH/USD’s price fell from $216.50 to $211.35. This Tuesday, the price has gone down further to $209.60. Critical resistance for bulls to overcome lies at $211.25.
- Ripple: XRP/USD fell from $0.303 to $0.300. This Tuesday, the price has gone below the $0.30-level and is currently priced at $0.298.
Biggest winners and losers (top 20 coins)
- Cardano (ADA/USD) went down by 4.16% and is priced at $0.0513.
- Chainlink (LINK/USD) went down by 3.50% and is priced at $2.34.
- Litecoin (LTC/USD) went down by 3.24% and is priced at $85.04.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
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