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The cryptocurrency market is trying to get out of the massive correction; however, some coins remain under bearish influence. Mainly, Bitcoin (BTC) and Internet Computer (ICP) are in the red zone.
BTC/USD
Yesterday buyers were able to overcome the resistance level of $36,000 and consolidated above the level of $37,150. Late in the evening, growth continued to the three-hour EMA55.
This morning, the moving average has limited further growth in the price of Bitcoin (BTC). In the morning, the pair will try to gain a foothold in a sideways range, using the level at $37,150.
Denys SerhiichukIn case of a break above the average price level, the pair might continue to recover to the mark of $42,447. If bears push the price back below $37,150, then the lilac level of $36,000 can act as a support.
Bitcoin is trading at $37,850 at press time.
ETH/USD
Unlike Bitcoin (BTC), Ethereum (ETH) has continued to rise after the correction, going up by 4% over the last day.
On the daily chart, Ethereum (ETH) is looking bullish as the chief altcoin has successfully bounced off the $2,400 mark. Bears are losing their power, which is confirmed by the declining selling trading volume. If ETH can fix above $2,650, the next target at $3,100 may be achieved soon.
Ethereum is trading at $2,580 at press time.
XRP/USD
XRP is the biggest gainer today as its rate has rocketed by 8%.
XRP is also more bullish than bearish as XRP is trying to come back to the vital level at $1. The altcoin is located in the zone where most of the liquidity is focused, which means that traders are accumulating power for a big upcoming move. In case XRP remains trading above $0.90, there are high chances to get to the mirror level at $1.18 shortly.
XRP is trading at $0.94 at press time.
ADA/USD
Cardano (ADA) has gained less than XRP with a price rise of 4%.
Cardano (ADA) has fixed above the support at $1.33 and is gathering power for a possible continued rise according to a low buying trading volume. In this case, the altcoin may get to the resistance level at $1.79 by the end of the week if bulls keep controlling the situation.
ADA is trading at $1.5620 at press time.
Arman Shirinyan
Alex Dovbnya
U.Today Editorial Team
Vladislav Sopov
Dan Burgin