Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Neither bulls nor bears are dominating at the moment on the cryptocurrency market.
BTC/USD
The rate of Bitcoin (BTC) is almost unchanged since yesterday.
After the breakout of the purple level at $53,300, Bitcoin (BTC) is located in the wide channel where the nearest support is located at the level of $41,967.
If bulls cannot hold this area, there is a chance to see a sharp drop below the vital zone of $40,000.
Bitcoin is trading at $47,607 at press time.
ETH/USD
Over the weekend, the Ethereum (ETH) price held in a sideways consolidation with support at the psychological level of $4,000. On Sunday evening, buyers made a weak attempt to break above the average price level but failed to gain a foothold above the $4,100 mark.
By the beginning of this week, the price again rolled back to the support area of $4,000.
Today, the breakout could be repeated, and if buyers overcome the resistance of the two-hour EMA55, then the Ether price could test the resistance of $4,300.
Ethereum is trading at $3,880 at press time.
XRP/USD
At the end of last week, the XRP price failed to gain a foothold above the two-hour EMA55 level. On the weekend, the local maximum was set around the $0.857 mark, but currently the pair is still below the average price level.
If the next attempt by the bulls is more successful, and the XRP price comes back above the EMA55, then the growth can continue to the resistance area of $0.96.
XRP is trading at $0.7955 at press time.
Godfrey Benjamin
Yuri Molchan
Mushumir Butt
