Waiting for another correction before a sharp growth in 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 correction phase of the cryptocurrency market has ended and the top 10 currencies have recovered their growth. XRP and EOS have gone up 10% less since yesterday.
The main data for Bitcoin (BTC), Ethereum ETH) and XRP are as follows.
BTC / USD
After a small correction in the $ 5,800 area, the bulls took the initiative and managed to hold over $ 6,000 and up to $ 6,500. The current growth is 15.29% since yesterday.
Bitcoin (BTC) confirmed the reversal of the drop to $ 3,600 and could reach the crucial $ 7,000 mark. On the 4H chart, the main cryptocurrency could reach $ 6,900 on some exchanges.
Continued growth has not been canceled, but a slight correction is about to occur, as the currency is already overbought in small periods of time. In that case, traders can expect Bitcoin (BTC) at $ 6,200- $ 6,400 soon.
Bitcoin is currently trading at $ 6,632.
ETH / USD
Ethereum (ETH) is showing less positive dynamics than Bitcoin (BTC). However, the leading altcoin is following the general trend, showing a 13.68% growth in the last 24 hours.
Ethereum (ETH) is forming a bearish divergence on the 4H chart. The RSI indicator is falling, suggesting a short-term decline before continued growth. From a technical point of view, the main altcoin has shown trading patterns similar to Bitcoin (BTC) in the past few days. The closest support that Ethereum (ETH) can reach is around the $ 135 zone.
Ethereum is currently trading at $ 138.69
XRP / USD
XRP is growing more slowly than Bitcoin (BTC) and Ethereum (ETH) in the rising market. The rate for the third cryptocurrency increased by 8.44%.
The growing turnover of XRP confirms the continued upward climate. Applying the Fibonacci retracement to the chart, the closest resistance is located at the $ 0.18 mark, which corresponds to 61.8%. If the volume remains high, the currency will reach the level mentioned by the end of the current month.
XRP is currently trading at $ 0.1628.