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.
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.
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.
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 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.