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The market is trading sideways today as some coins are in the red zone, while others keep rising.
BTC/USD
The rate of Bitcoin (BTC) has risen by 0.38% over the last 24 hours.
Today's slight upward move has not affected the overall technical position of Bitcoin (BTC). The rate keeps trading in the channel, accumulating power for a further move. Traders can think about a continued rise only if the price fixes above the $29,000 mark.
Bitcoin is trading at $28,461 at press time.
ETH/USD
Ethereum (ETH) has not followed the rise of Bitcoin (BTC), falling by 0.21%.
From the technical point of view, Ethereum (ETH) is trading similarly to Bitcoin (BTC) as neither bulls nor bears have seized the initiative yet. In this case, ongoing consolidation in the area of $1,750-$1,800 is the more likely scenario for the next few days.
Ethereum is trading at $1,794 at press time.
XRP/USD
The rate of XRP is almost unchanged since yesterday.
The price of XRP has made a false breakout of the resistance at $0.5582. Until the rate is below that mark, there is a chance to see a local correction. If that happens, the drop may continue to the important zone of $0.50.
XRP is trading at $0.5394 at press time.
Vladislav Sopov
Dan Burgin