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 market remains slight bearish as not all coins have recovered after the recent correction.
BTC/USD
Despite the sharp decline yesterday, by the end of the day, bulls have managed to restore their positions.
On the daily chart, Bitcoin (BTC) is looking bullish as it has firmly fixed above the $57,000 mark. At the moment, most of the liquidity is focused, which means that buyers are likely to accumulate power before the upcoming growth.
In this case, one may expect a retest of the crucial resistance at $60,000 soon.
Bitcoin is trading at $57,398 at press time.
ETH/USD
Ethereum (ETH) is even more bearish than Bitcoin (BTC), as the rate of the leading altcoin has gone down by 1% since yesterday.
Even though Ethereum (ETH) is trading around its peaks, it remains bullish as there are no fixations so far. This is confirmed by low trading volumes. All in all, the rise might continue until ETH reaches another level at $3,800.
Ethereum is trading at $3,548 at press time.
XRP/USD
XRP has been influenced more by the last dump as its price has declined by 4% over the last 24 hours.
Despite the deep correction, XRP remains trading above the vital level of $1.60, which means that bulls continue controlling the situation. At the moment, the coin is located in the sideways trend, accumulating power for a possible restest of the area around $1.80.
XRP is trading at $1.6237 at press time.
ADA/USD
Cardano (ADA) is an exception to the rule as its rate has increased by 5% since yesterday.
Cardano (ADA) is trading similarly to Ethereum (ETH), as it keeps rising at the peak. The buying trading volume keeps rising, which means that bulls have accumulated enough power to continue the growth. That is why there are big chances of seeing ADA at $1.80 shortly.
ADA is trading at $1.70 at press time.
XLM/USD
Stellar (XLM) has risen as well, but with a lower growth rate. The rise is by 2.9%.
Stellar (XLM) is neither bearish nor bullish in the mid-term scenario. The coin is trading above the level of $0.60; however, it has not gathered enough power for a continued rise. In this case, the range of $0.65-$0.70 is the more likely price action.
XLM is trading at $0.64 at press time.
Alex Dovbnya
Tomiwabold Olajide
