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The week has started with a slight correction of the majority of the coins, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
BTC/USD
The rate of Bitcoin (BTC) has declined by 0.22% over the last 24 hours.
Image by TradingView
On the daily chart, the price of Bitcoin (BTC) keeps accumulating energy. It is too early to think about a bullish trend reversal as the rate is far from the resistance. However, if buyers manage to restore BTC to the $31,000 zone, there is a chance to see a breakout, followed by a move to the $32,000 zone.
Bitcoin is trading at $30,270 at press time.
ETH/USD
Ethereum (ETH) is more of a gainer than Bitcoin (BTC), even though its rate has risen by only 0.08%.
Image by TradingView
From the technical point of view, Ethereum (ETH) is on the way to the resistance at $1,877. If the growth continues to that mark, one can expect a price blast to the $1,900 area shortly.
Ethereum is trading at $1,868 at press time.
XRP/USD
XRP is feeling much better than ETH and BTC, rising by 0.50% since yesterday.
Image by TradingView
Despite today's rise, the rate of XRP has not accumulated enough strength for growth. The falling volume confirms this statement. However, if the bar closes near the $0.48 mark, the rise may lead to the test of the $0.50 zone soon.
XRP is trading at $0.4710 at press time.
BCH/USD
Bitcoin Cash (BCH) is the biggest gainer today, rocketing by more than 3%.
Image by TradingView
On the daily time frame, the rate of BCH is not ready to rise as sharply as before, as the price does not have enough energy for that. It might only happen if the rate gets back to the $300 zone and fixes above it. In that case, traders might expect a resistance breakout, followed by a move to the $340 area.
Bitcoin Cash is trading at $275 at press time.
DOGE/USD
Meanwhile, the rate of DOGE has fallen by 1.36%.
Image by TradingView
The volatility on the daily chart keeps falling, which means that DOGE needs more time to trade sideways. Respectively, there are low chances to see any sharp moves shortly. In this regard, consolidation around the $0.065 mark is the more likely scenario for the next few days.
DOGE is trading at $0.06467 at press time.
Godfrey Benjamin
Vladislav Sopov
Dan Burgin