Analysis: Bitcoin (BTC), Ethereum (ETH) and XRP
This analysis provides an overview of how Bitcoin (BTC), Ethereum (ETH) and XRP have fared and how they will behave from now on.
The cryptocurrency market continues its wave of correction. Bitcoin (BTC), as well as the other altcoins on the top 10 cryptocurrencies list, remains in the red zone. Bitcoin SV (BSV) remains the main loser, down more than 10% on the last day.
The main information about Bitcoin (BTC), Ethereum (ETH) and XRP.
BTC / USD
Bitcoin (BTC) failed to stay above the $ 10,000 mark and fell below $ 9,600, having found a new fund. The price of the main cryptocurrency fell 2.69% on the last day.
However, Bitcoin (BTC) is likely to recover, as the current correction is just a pause before moving up to $ 11,000.
In addition ‘Golden Cross‘Is about to happen as soon as the 50-day moving average is about to cross the 200-day moving average on the daily chart. There are currently no prerequisites for a correction below $ 9,000.
Bitcoin is currently trading at $ 9,680.
ETH / USD
Ethereum (ETH) is facing a much larger price loss than Bitcoin (BTC). The price of the second currency in popularity has dropped more than 5% from the previous day.
Ethereum (ETH) may have ended the correction period and may be ready to update previously achieved resistance levels. This is confirmed by the RSI indicator that left the overcompensated area. In addition, sellers’ trading volume is declining, suggesting their weakness in pushing the rate down. In that case, the $ 300 crunch is expected to be reached by the end of February.
Ethereum is currently trading at $ 250.
XRP / USD
XRP is showing a completely different price dynamic. The currency rate has lost more compared to Bitcoin (BTC) and Ethereum (ETH).
The XRP is finishing its long bull run and is about to face a deeper correction. The blue line of the MACD indicator crossed the red, confirming downward sentiments. In this sense, the closest support that can be achieved is the yellow belt zone between US $ 0.23 to US $ 0.25, where most of the trading volume is concentrated.
XRP is currently trading at $ 0.2722.