Cryptocurrency market had a rough start this week, with Bitcoin (BTC) and other major coins losing a substantial bit of value. Over the last 24 hours, Bitcoin (BTC) declined by 3.68%, while Ethereum (ETH) and XRP experienced a downfall of almost 4 and 2.56%, respectively. Apart from them, Binance Coin (BNB) dropped 1.94% and Cardano (ADA) fell by 3.94%.

For Bitcoin (BTC), the current decline is likely to continue as buyers are unable to defend the support at $26,680. If the rate closes near that level, traders can expect a further slide to the area at around $25,000. Ethereum (ETH) is in a somewhat similar situation, where a break below the $1,787 support could cause a prolonged fall to the lower zone at $1,700.

As for XRP, a closure below the support at $0.41011 could lead it to the lower zone around $0.38-$0.39. Binance Coin (BNB) is also giving bearish signals as the rate might close below yesterday's low at $308. Such a situation may repel buyers to the critical region of $300 in the coming days. Lastly, Cardano (ADA) faces a downhill risk if buyers don't seize the initiative soon. In such a case, ADA may retrace all the way to the lower zone of $0.33-$0.34.

Overall, the top five cryptocurrencies have slipped sharply due to an increase in selling pressure as buyers are unable to hold up the market. Although some of them might manage to resolve the bearish situation, it is likely that the entire market will face a series of corrections in the near future.



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