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The start of the weekend has turned out to be positive for the cryptocurrency market as the rates of most of the coins keep rising.
BTC/USD
Bitcoin's (BTC) price has rocketed by 36.61% over the last seven days.
On the daily chart, the price has fixed above the $27,000 mark after the breakout of the resistance at $26,533. If buyers can hold the gained initiative, the growth may continue to the $28,000-$30,000 mark. Such a scenario is relevant until the end of the month.
Bitcoin is trading at $27,488 at press time.
ETH/USD
Ethereum (ETH) has followed the sharp growth of Bitcoin (BTC), going up by 5.20% since yesterday.
From the technical point of view, Ethereum (ETH) is trading similarly to Bitcoin (BTC) as its price has also broken the resistance at $1,742. Moreover, Ethereum (ETH) might continue midterm growth if buyers can hold the rate above the $1,700 mark. In this regard, the upward move may continue to the vital zone around $2,000.
Ethereum is trading at $1,822 at press time.
XRP/USD
XRP's price has only risen by 2.30%.
Even though the price of XRP is far away from support, the altcoin has not accumulated enough energy for a continued rise. In addition, the rate has made a false breakout of $0.39, which confirms bears' pressure. Respectively, the more likely scenario is sideways trading in the area of $0.375-$0.380.
XRP is trading at $0.3810 at press time.
Alex Dovbnya
Tomiwabold Olajide
Dan Burgin
U.Today Editorial Team
Vladislav Sopov