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Despite the fact that the majority of the top 10 coins are in the green zone, there are a few exceptions to the rule. DOGE and Internet Computer (ICP) are under bearish influence.
BTC/USD
Bitcoin (BTC) has finally gotten out of the correction phase as its rate has increased by almost 2% over the last day.
On the 4H chart, Bitcoin (BTC) is trading sideways; however, the short-term scenario is more bearish than bullish. A possible drop is confirmed by increasing selling trading volume, which means that traders might expect a fall to $53,500 very soon.
But it does not mean that bears will seize the initiative in the long-term projection.
Bitcoin is trading at $55,620 at press time.
ETH/USD
Ethereum (ETH) has gained more than Bitcoin (BTC) as its price has increased by 4% and set a new peak at $4,400.
Even though the long-term picture of Ethereum (ETH) has not been broken, the drop to the mirror level at $3,960 may occur before continued growth. The trading volume is low, which means that buyers may not have fixed their positions yet. In this case, a further rise to $4,500 is possible in case of a bounceback from the support.
Ethereum is trading at $4,215 at press time.
XRP/USD
XRP could not show the same growth as Bitcoin (BTC) or Ethereum (ETH), and its rate has declined by 2%.
Despite the decline, XRP is trading above yesterday's minimum levels, which means that short-term growth is more likely than a drop. Thus, the selling trading volume remains low. All in all, the nearest resistance at $1.59 is the main target for bulls for the upcoming days.
XRP is trading at $1.42 at press time.
DOGE/USD
DOGE is the main loser today as its rate has gone down by more than 5% since yesterday.
DOGE is neither bullish nor bearish at the moment. However, the selling trading volume has decreased, which means that bulls might retest the resistance at $0.57 shortly.
DOGE is trading at $0.4747 at press time.
Arman Shirinyan
Yuri Molchan
Gamza Khanzadaev
