Top Crypto Market Losers: Bitcoin (BTC), Ethereum (ETH), XRP, Toncoin (TON), and Binance Coin (BNB)

The cryptocurrency market is known for its wild ups and downs, and recent trends have shown some of the biggest names taking a hit. Here is detailed analysis of the top crypto market losers: Bitcoin (BTC), Ethereum (ETH), XRP, Toncoin (TON), and Binance Coin (BNB).

Major cryptocurrencies continued their downturn on Sunday evening, as the top five crypto market losers experienced significant price drops.

Bitcoin, Ethereum, XRP, Toncoin, and Binance Coin all faced losses ranging from 6.83% to 10.71%.

Bitcoin fell below the 9-week Simple Moving Average (SMA), while XRP and Toncoin remained below their respective SMAs.

Despite the bearish trend, Toncoin's RSI indicated a potential correction from being overbought.

The price drops and technical indicators suggest a bearish market for these cryptocurrencies.

Here's a closer look at the top five crypto market losers on Sunday evening:

Bitcoin (BTC) price today dropped 8.72% to trade at $57,211. BTC’s price action had a ripple effect on its key metrics. Bitcoin’s market capitalization now stands at a staggering $1.13 trillion, after a 5.21% decrease. Interestingly, while the price fell, trading activity surged.

From a technical standpoint, Bitcoin’s Relative Strength Index (RSI) stands at 47.55, indicating a neutral to slightly bearish sentiment. This suggests that selling pressure is present, but not yet at extreme levels.

Bitcoin’s price has fallen below its 9-week Simple Moving Average (SMA) of $64,809. This crossover beneath a key moving average often signals a potential continuation of the downtrend, as it indicates that shorter-term price action is weaker than the longer-term trend.

Ethereum (ETH) price today fell 9.73% to trade at $3,101.77. ETH’s price drop led to a 5.50% decrease in its market cap, now at $375.36 billion. Like Bitcoin, Ethereum has seen a significant uptick in trading volume.

Technically, Ethereum’s RSI is currently at 49.51, similar to Bitcoin, showing a neutral to bearish trend. This suggests that ETH is neither overbought nor oversold at current levels, but the momentum is leaning bearish.

The price of ETH has dipped below its 9-week SMA of $3,432.79. This bearish crossover implies that Ethereum may face continued downward pressure in the near term.

XRP price today declined 6.83% to trade at $0.4429. XRP’s market cap shrunk by 5.85% to $24.81 billion. However, XRP has experienced a substantial increase in trading volume.

XRP’s technical indicators show a more bearish trend than its counterparts. XRP’s RSI is significantly low at 35.63, indicating that it’s approaching oversold territory. This could suggest that a bounce might be due, but it also reflects strong selling pressure.

The current price is well below the 9-week SMA of $0.49288, signaling a strong bearish trend. The distance between the current price and the SMA indicates the strength of the downtrend.

Toncoin (TON) price today dropped 7.06% to trade at $7.1047. Toncoin’s market cap decreased by 8.94% to $17.58 billion, as the 24-hour trading volume increased by 42.19% to $509.96 million. The volume to market cap ratio stands at 2.90%.

Interestingly, Toncoin’s RSI stands at 64.90, which is relatively high. This suggests that despite the recent drop, TON may have been overbought and is now undergoing a correction.

The current price is near the 9-week SMA of $7.0862, indicating that TON is at a critical juncture. A bounce off this level could signal support, while a decisive break below could lead to further declines.

Binance Coin (BNB) price today dropped the most among the top five crypto market losers, with a 10.71% decrease to trade at $519.5. BNB’s market cap decreased by 6.57% to $76.87 billion. The 24-hour trading volume increased by 15.99% to $2.01 billion, with a volume to market cap ratio of 2.62%.

BNB’s RSI is at 51.47, suggesting a neutral sentiment. This indicates that despite the significant price drop, BNB isn’t yet in oversold territory.

BNB’s price has fallen below its 9-week SMA of $592.7

The above is the detailed content of Top Crypto Market Losers: Bitcoin (BTC), Ethereum (ETH), XRP, Toncoin (TON), and Binance Coin (BNB). For more information, please follow other related articles on the PHP Chinese website!