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BTC, ETH and XRP Price Analysis for March 11

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Sat, 03/11/2023 - 14:49
BTC, ETH and XRP Price Analysis for March 11
Cover image via www.tradingview.com

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.

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Neither bulls nor bears are dominating at the moment, according to CoinMarketCap's ranking.

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Top coins by CoinMarketCap

BTC/USD

The price of Bitcoin (BTC) has increased by 1.14% over the last 24 hours.

BTC/USD chart by TradingView

On the daily chart, the rate of Bitcoin (BTC) has once again made a false breakout of the support at $20,043. If buyers can hold the gained initiative, the rise may continue to the $20,500 mark. Such a scenario is relevant for next week.

Bitcoin is trading at $20,198 at press time.

ETH/USD

Ethereum (ETH) has outperformed Bitcoin (BTC), going up by 2.91%.

ETH/USD chart by TradingView

The price of Ethereum (ETH) is trying to consolidate above the support at $1,408. However, it is too early to think about a quick reversal as the main altcoin has not accumulated enough power for that.

Related
BTC, ETH and XRP Price Analysis for March 10

In this case, sideways trading in the range of $1,440-$1,480 is the more likely scenario for the upcoming days.

Ethereum is trading at $1,441 at press time.

XRP/USD

XRP is the only coin on the list whose price is falling. Its rate has declined by 1.25% over the last 24 hours.

XRP/USD chart by TradingView

XRP is looking bearish as the price is near the support level of $0.36198. If the daily closure happens near that mark, traders can expect a sharp drop to the $0.35 zone. Decreasing volume confirms sellers' dominance.

XRP is trading at $0.3621 at press time.

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