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BTC, ETH and XRP Price Analysis for March 20

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Mon, 20/03/2023 - 16:07
BTC, ETH and XRP Price Analysis for March 20
Cover image via www.tradingview.com

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The new week has started with the bears' pressure on as most of the coins are back to the red area.

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Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is the exception to the rule, rising by 2.35% over the last 24 hours.

BTC/USD chart by TradingView

The rate of Bitcoin (BTC) is slowly rising after the breakout of the vital resistance at $26,533. However, buyers might need more time to accumulate power for further growth. In this case, sideways trading in the narrow range of $27,000-$28,000 is the more likely scenario.

Bitcoin is trading at $27,892 at press time.

ETH/USD

Ethereum (ETH) has not followed the rise of Bitcoin (BTC), falling by 1.04%.

ETH/USD chart by TradingView

From the technical point of view, Ethereum (ETH) is trading similarly to Bitcoin (BTC); however, the price is located near the resistance, which means that bears are not going to give up so easily.

Related

Until the rate is above the $1,742 mark, a continued rise is the more likely scenario for the next few days.

Ethereum is trading at $1,768 at press time.

XRP/USD

XRP is the biggest loser from the list today, going down by 4.20%.

XRP/USD chart by TradingView

On the daily chart, the price of XRP has once again failed to fix above the $0.39 mark. Thus, the volume has declined, which means that bulls are not ready to buy at the current levels. In this regard, consolidation in the range of $0.38-$0.3850 is the more likely option until the end of the week.

XRP is trading at $0.3807 at press time.

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