The cryptocurrency market seems to be undecided as to which way to go as the rates of some coins are rising while others keep falling.
BTC/USD
Bitcoin (BTC) is one of the biggest losers today, falling by 1.26% over the last 24 hours.
The price of Bitcoin (BTC) has almost touched the support at $21,454 on the daily chart. Until the price is above that mark, one can expect a bounce back. In this case, the local growth is possible to the nearest resistance zone around $22,000. Such a scenario is relevant until the end of the week.
Bitcoin is trading at $21,763 at press time.
ETH/USD
Ethereum (ETH) has followed the fall of Bitcoin (BTC), going down by 0.70%.
Despite bears' pressure, there are chances to see the candle close in the green zone. If that happens, traders might see a correction to the area of $1,600. One should not expect a fast recovery as Ethereum (ETH) has not accumulated enough power for that.
Ethereum is trading at $1,538 at press time.
XRP/USD
XRP is an exception to the rule, rising by 0.48%.
Despite today's slight rise, the rate of XRP keeps trading in the middle of the channel, accumulating power for a further sharp move. At the moment, one should pay attention to the zone of $0.40. If buyers manage to fix above it, the strength might be enough for a breakout to the resistance level at $0.40895.
XRP is trading at $0.3917 at press time.
Vladislav Sopov
Godfrey Benjamin
Tomiwabold Olajide