Should we expect a spike in Bitcoin (BTC), Ethereum (ETH) and XRP during the early days of June?
This analysis provides an overview of how Bitcoin (BTC), Ethereum (ETH) and XRP have fared and how they will behave from now on.
The market continued its upward trend over the weekend. All 10 major currencies have remained green since yesterday. Ethereum (ETH) currently leads, rising almost 7% over the previous day.
Below are the main data of Bitcoin (BTC), Ethereum (ETH) and XRP:
BTC / USD
After correcting itself to the $ 9,300 zone, Bitcoin (BTC) gained strength to maintain its growth. The currency added about 1% to its value in the past 24 hours.
Looking at the daily period, the triangle pattern is about to end for Bitcoin (BTC). The asset has accumulated enough energy to explode upwards or downwards. From a technical point of view, there is more chance of a break in resistance, as the current figure generally shows a continuation of the trend. If that happens, the next stop is $ 10,300. However, for this to happen, the trading volume needs to increase, as the current volume is low.
At the moment, Bitcoin was trading at $ 9,542.
ETH / USD
Ethereum (ETH) is today’s leader. Altcoin has shot up 6.88% since yesterday. He had the biggest gains from the top 10 currencies.
Having accumulated enough strength, Ethereum (ETH) has moved out of its lateral trend. In relation to the nearest price forecast, the currency may show a slight decline to the nearest level of $ 227.67, in order to gain ‘fuel’ that will allow it to maintain continued growth.
The most important factor is that the increase is accompanied by a relatively high purchase negotiation volume, which is a good sign for bulls. As for the next resistance level, traders should consider the $ 252 level, which could be reached in mid-June.
So far, Ethereum was trading at $ 236.33.
XRP / USD
XRP is also showing prospective signs of growth, outpacing Bitcoin (BTC) in some cases. This may have helped cryptocurrency to return to third place in the global cryptocurrency ranking.
Having broken out of its support zone, XRP neglected the possible start of a bearish trend. The increase was supported by two important components: high liquidity (Visible Range indicator) and trading volume. You can see that the currency is slowly approaching the $ 0.2050 level. To sum up, the bulls are ready to move to the next resistance mark at $ 0.2082 next week.
At the moment, the XRP was trading at $ 0.2037.