Can any altcoin overcome the rise of Bitcoin (BTC)?
This analysis provides an overview of how Bitcoin Cash (BCH), Ethereum (ETH) and XRP have fared and how they will behave from now on.
Most currencies follow the bullish market climate, however, there are some exceptions. Mainly, Chainlink (LINK) and Binance Coin (BNB) are the only losers among the top 10 cryptocurrencies.
ETH / USD
Yesterday, Ethereum’s (ETH) purchase volumes exceeded the average and, during the day, buyers re-priced 2HEMA55 for an upward trend. In the morning, the volumes decreased; therefore, it has not yet been possible to overcome the green trend line.
If buyers continue bullish, they can test the $ 400 target level and gain a spot in the green bullish channel. In the event that resistance at the bottom edge of the channel reverses the price downwards, with low market activity, the pair may remain at the $ 360 level. With a jump in volatility, the decline may reach the $ 320 support.
Ethereum is currently trading at $ 373.47 so far.
XRP / USD
Yesterday, buyers managed to continue recovering from the average price level and came close to the $ 0.25 resistance. In the daily period, the lines of the Stoch RSI indicator show the potential for further recovery for the $ 0.265 area. Therefore, the likelihood of a breach of the $ 0.25 level is still relevant.
However, although we do not see a large buyer that can continue with this high, and if the pair fails to gain a position above the $ 0.25 mark, the XRP price may return to the $ 0.23 support.
In the event of strong bearish momentum, sellers can break through the September bearish level and renew it to the $ 0.213 support area.
XRP is currently trading at $ 0.2468 so far.
BCH / USD
Bitcoin Cash (BCH) is the main winner today. The altcoin rate has increased by 4.22% since yesterday, while the price change in the last week has increased + 6.22%.
On the daily chart, Bitcoin Cash (BCH) has just started to exit the consolidation phase after recovering from support at $ 205. Turnover remains low, which confirms the high potential of a false breakout, instead continuous growth. The decreasing lines of the Bollinger Bands indicator support this scenario. In short, the local peak that bulls can move the fee to is $ 245.
Bitcoin Cash is trading at $ 235.66 so far.