Bitcoin, alongside other major assets, was caught up in yet another selloff on Monday. Bitcoin’s renewed bearish momentum broke the weekend’s consolidation below $8,350. Moreover, the lower leg extended below the support at $8,250 and tested the key level at $8,000. However, a low formed at $8,025 paved the way for gains above $8,100. BTC/USD is trading at $8,133 while attempting to establish support above $8,100 in a bid to push for recovery.
Ripple bears have remained active since the Asian session on Tuesday. A flash drop on Monday smashed through the support at $0.25. XRP/USD tested $0.24 but the recovery from the dip stalled at $0.2550.
Continued selling activity has pushed Ripple under $0.25 again. Short-Term support is being established at $0.2450 and is likely to stop the losses. Moreover, I expect XRP to start reversing the trend upwards anytime from now especially with the Relative Strength Index (RSI) showing short-term oversold conditions.
Ethereum, now the second-largest digital asset with the current market value of $19.3 billion, has recovered from the recent low of $174.62, though it is still 3.5% lower from this time on Monday. At the time of writing, ETH/USD is changing hands at $176.57.