The cryptocurrency market is trying to get out of the massive correction; however, some coins remain under bearish influence. Mainly, Bitcoin (BTC) and Internet Computer (ICP) are in the red zone.
Top coins by CoinMarketCap
BTC/USD
Yesterday buyers were able to overcome the resistance level of $36,000 and consolidated above the level of $37,150. Late in the evening, growth continued to the three-hour EMA55.
BTC/USD chart by TradingView
This morning, the moving average has limited further growth in the price of Bitcoin (BTC). In the morning, the pair will try to gain a foothold in a sideways range, using the level at $37,150.
In case of a break above the average price level, the pair might continue to recover to the mark of $42,447. If bears push the price back below $37,150, then the lilac level of $36,000 can act as a support.
Bitcoin is trading at $37,850 at press time.
ETH/USD
Unlike Bitcoin (BTC), Ethereum (ETH) has continued to rise after the correction, going up by 4% over the last day.
ETH/USD chart by TradingView
On the daily chart, Ethereum (ETH) is looking bullish as the chief altcoin has successfully bounced off the $2,400 mark. Bears are losing their power, which is confirmed by the declining selling trading volume. If ETH can fix above $2,650, the next target at $3,100 may be achieved soon.
Ethereum is trading at $2,580 at press time.
XRP/USD
XRP is the biggest gainer today as its rate has rocketed by 8%.
XRP/USD chart by TradingView
XRP is also more bullish than bearish as XRP is trying to come back to the vital level at $1. The altcoin is located in the zone where most of the liquidity is focused, which means that traders are accumulating power for a big upcoming move. In case XRP remains trading above $0.90, there are high chances to get to the mirror level at $1.18 shortly.
XRP is trading at $0.94 at press time.
ADA/USD
Cardano (ADA) has gained less than XRP with a price rise of 4%.
ADA/USD chart by TradingView
Cardano (ADA) has fixed above the support at $1.33 and is gathering power for a possible continued rise according to a low buying trading volume. In this case, the altcoin may get to the resistance level at $1.79 by the end of the week if bulls keep controlling the situation.
ADA is trading at $1.5620 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.
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