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July 11, 2020
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Guide & Analysis

BTC, ETH, XRP – Moment of accumulation indicates continuous growth or decline?

Will Bitcoin (BTC), Ethereum (ETH) or XRP recover?

This analysis provides an overview of how Bitcoin (BTC), Ethereum (ETH) and XRP have fared and how they will behave from now on.

That was a bearish Tuesday for most cryptocurrencies. Only Bitcoin (BTC) and Cardano (ADA) are in the green zone among other top 10 cryptocurrencies.

Key data for Bitcoin (BTC), Ethereum (ETH) and XRP.

BTC, ETH, XRP - Moment of accumulation indicates continuous growth or decline? 25

BTC / USD

Each attempt by Bitcoin (BTC) to go down or up ends with resistance from bulls and bears, respectively. Volatility is decreasing, which means that the asset is still accumulating energy due to a price explosion.

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In the daily period, the 2-month side trading continues. The trading volume remains the same, as does the liquidity. The lines of the Bollinger Bands indicator also do not show significant dominance of bulls or bears. In that case, Bitcoin (BTC) will remain in the range between $ 9,000 and $ 9,300 until mid-July 2020.

Bitcoin is currently trading at $ 9,089.

ETH / USD

Yesterday afternoon, bears broke $ 223, but in the afternoon trading volumes started to drop and they were unable to maintain that support. At the end of the day, buyers would restore Ethereum (ETH) to the mid-price area, and at night, it was possible to establish a local maximum in the region of $ 230.

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In the morning, the price of Ethereum (ETH) fell slightly, but today the decline is expected to stop at the $ 223 support area and buyers will try to continue to grow until the $ 233.50 resistance.

Ethereum is currently trading at $ 223.05.

XRP / USD

Yesterday morning, sellers were unable to significantly increase the price of XRP. during the day, buyers stopped the reversal and kept the pair in the sideband, and late at night they tested the average price level.

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In the morning, the price of the XRP fell to yesterday’s sideband and today we can expect support from its bottom edge at around $ 0.175. If that level of support works, the pair could gain a position above the EMA55 two-hour moving average.

Source: U.Today

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