Bitcoin Price Analysis: BTC uptrend eyes 2018 top despite overbought RSI
BTC/USD drops to 16,759 during early Tuesday. Even so, the Crypto major prints 0.18% intraday gains while nearing the highest levels since January 2018, flashed last week. Although overbought RSI conditions on the weekly chart suggest the pair’s corrective pullback towards Friday’s high near 16,490, any further declines are less likely.
XRP price explodes over 12%, but some technical indicators spell trouble
XRP had a notable breakout on November 13 from the ascending triangle pattern formed on the daily chart. The initial price target is $0.30; however, the digital asset could be looking for a pullback first. Several indicators show XRP could be on the verge of a correction in the short-term.
Ethereum price aims for $520 if bulls can crack this critical resistance level
Ethereum is currently trading at $461, bounded inside an ascending parallel channel on the hourly chart. The digital asset looks poised to test the upper trendline at $485. A breakout above this point can quickly drive Ethereum price towards $520.
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Cardano and Avalanche prices continue to trade down on Wednesday after correcting more than 7% and 8%, respectively, so far this week. The technical outlook and on-chain metrics for both altcoins suggest the continuation of the pullback.
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