Cover image via www.tradingview.com
The cryptocurrency market is trying to recover. And if assets such as Bitcoin and Ethereum demonstrate a readiness to continue the rise, then Litecoin and EOS will reach for the next test of immediate support. Only after that, growth signals may appear and one can expect another attempt at a qualitative rise in asset value.
The crucial data for Bitcoin (BTC), Ethereum (ETH) and XRP today:
|
Name |
Ticker |
Market Cap |
Price |
Volume (24h) |
Change (24h) |
|
Bitcoin |
BTC |
$199,496,434,491 | $10,788.19 | $34,015,899, 441 | -1.26% |
|
Ethereum |
ETH |
$42,545,910,201 | $377.72 | $20,965,078, 505 | 2.58% |
|
XRP |
XRP |
$11,211,486,484 | $0.248910 | $2,376,939 800 | 1.98% |
BTC/USD
On the four-hour chart, the price has left the downtrend channel; however, the RSI indicator is testing the resistance line. For this reason, one should not exclude yet another attempt to decline to the level of $10,540 with subsequent upward movement.
BTC/USD chart by TradingView
Its cancellation would be a breakdown of the level of $9,505, which will indicate a break in the lower border of the descending channel and may provoke an accelerated fall in the value of the asset. As a rule, the breakdown of the downward channel is a very reliable signal for further development of bearish momentum.
Bitcoin is trading at $10,768 at press time.
ETH/USD
ETH/USD quotes on the daily chart were able to push off from the lower border of the Bollinger Bands indicator, but the breakdown of the middle line has not yet taken place. Such a signal would indicate a full-fledged resumption of the upward trend.
Potential remains for the completion of the formation of the "5-0" upward pattern—only the test of the lower border of the upward channel is missing. A strong signal in favor of continuing the rise would be the breakdown of the trend line on the RSI indicator. A positive step would be the breakdown of the support area with the price fixing below the $250 level, which would indicate the cancellation of the "5-0" pattern and the continuation of the fall to the $150 level.
Ethereum is trading at $378.64 at press time.
XRP/USD
Yesterday, during the day, the XRP price consolidated for a long time at the two-hour EMA55 level and, late at night, buyers managed to form a powerful bullish impulse that broke through the $0.250 resistance and set a two-week high at $0.258.
However, the XRP price could not stay in the high zone and rolled back to the $0.250 level in the morning. If today this level keeps the pair from further decline, then growth will continue to a new weekly high in the area of $0.270.
XRP is trading at $0.2488 at press time.
Any financial and market information given on U.Today is written for informational purposes only. Conduct your own research by contacting financial experts before making any investment decisions.
Recommended Content
Editors’ Picks
Crypto today: Bitcoin, Ethereum, XRP tests key support, TRON network non-stablecoin activity hits new highs
Bitcoin, Ethereum, and XRP hover around key support levels after registering a steep correction earlier this week. TRON network’s stablecoin activity hit new highs following the release of SunPump. TRON trades at around $0.1500, almost flat on the day.
Bitcoin Weekly Forecast: $50,000 on the horizon if it breaks below key support level
Bitcoin price tests the key support level at $56,000 on Friday, consolidating over a 1% decline this week. If it drops below this support, a continued downtrend is likely for BTC, as suggested by substantial outflows from US spot Bitcoin ETFs, rising institutional selling, and bearish on-chain indicators.
Vitalik Buterin says all Layer-2 token holdings will be donated to charity, won’t sell for profit
Vitalik Buterin, Ethereum co-founder, has not sold Ether since the altcoin’s ICO in 2018. On-chain transfers by Buterin make headlines as ETH holders keep eyes peeled for selling pressure on the altcoin.
WazirX, PenPie and Bo Shen hackers launder $42.7 million in stolen funds through Tornado Cash
Three different hackers responsible for the exploit of crypto assets worth millions of dollars from crypto exchange WazirX, DeFi protocol Penpie, and Founder of Fenbushi Capital Bo Shen are using Tornado Cash to move part of the stolen funds.
Bitcoin: $50,000 on the horizon if it breaks below key support level
Bitcoin (BTC) price tests the key support level at $56,000 on Friday, consolidating over a 1% decline this week. If it drops below this support, a continued downtrend is likely for BTC, as suggested by substantial outflows from US spot Bitcoin ETFs, rising institutional selling, and bearish on-chain indicators.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.