Where will the growth of Bitcoin (BTC), Ethereum (ETH) and XRP stop?
This analysis provides an overview of how Bitcoin (BTC), Ethereum (ETH) and XRP have fared and how they will behave from now on.
Cryptocurrencies continue to consolidate: the main asset is squeezed in a ‘Triangle’ pattern, and just a break from $ 10,565 indicates a continued rise to $ 13,865. Cardano (ADA) remains the only winner today. However, growth has slowed since the beginning of the day. It was 0.24% in the last 24 hours.
The main data for Bitcoin (BTC), Ethereum (ETH) and XRP are below.
BTC / USD
The bears continue to maintain resistance at around $ 10,000. The Triangle pattern is now being formed on the asset’s daily chart. The main business idea still involves breaking the bottom edge, with a continued decline to $ 6,320, as part of the refinement of the model. An additional signal in favor of this option would be a recovery from the downward trend in the RSI indicator.
A break in the support level and the price below $ 8,555 would also suggest a decline. If the currency moves out of the upper limit of the Triangle model, there may be continued growth towards the first target of $ 11,900.
Bitcoin is currently trading at $ 9,391.
ETH / USD
Yesterday, Ethereum (ETH) was at $ 230, setting a daily low at $ 227.56. At the end of the day, the pair recovered with support at $ 233.33. During the Asian session, trading volumes were below average and the pair was unable to continue to grow towards the POC line ($ 243.36). If buyers increase volumes today, the recovery could continue.
However, if sellers become more active in the mid-price area, they could push the price up to the $ 225 area. Even a new test of the $ 222.98 level is unlikely to cancel the bullish scenario.
Ethereum is currently trading at $ 231.97.
XRP / USD
XRP is the biggest loser on our list. The currency lost 2.68% of its value the day before. Yesterday, buyers tried to test the $ 0.20 psychological mark, but sellers responded with a rather strong bearish momentum, which hit support at $ 0.19. However, that area stopped the reversal and the pair returned to the average price area.
If buyers get a position above the two-hour EMA55, they could exceed the psychological level of $ 0.20. If bears dominate the market today, then the price will fall in yesterday’s bearish zone.
XRP is currently trading at $ 0.1908.