The cryptocurrency market is trying to recover after a few days of fall.
BTC/USD
The rate of Bitcoin (BTC) has risen by almost 1% over the last day.
On the daily chart, Bitcoin (BTC) has once again bounced off the $21,000 mark, confirming buyers' power. If the growth continues until the end of the day, there are chances to see the breakout of the recently formed local resistance level at $21,774.
Bitcoin is trading at $21,496 at press time.
ETH/USD
Ethereum (ETH) has followed the growth of Bitcoin (BTC), going up by 4.37% since yesterday.
Ethereum (ETH) has also made a false breakout of the vital mark of $1,600. Until the rate is above it, bulls have a chance to seize the initiative for a midterm rise. If that happens, the leading altcoin can test the nearest resistance zone at $1,700 shortly.
Ethereum is trading at $1,647 at press time.
XRP/USD
XRP is growing the least today, with a rise of 1.49%.
XRP is trading similar to Bitcoin (BTC) as the coin is accumulating power for a local bounceback. In addition, the selling volume has declined, which means that bears are getting weaker. If bulls can hold the $0.34 mark, the upward move might be restored.
XRP is trading at $0.3420 at press time.
SOL/USD
Solana (SOL) is not an exception to the rule, rising by 4%.
Solana (SOL) is about to fix above the $36 mark. Currently, one needs to pay attention to that mark as the breakout of it can lead to a sharp rise to the next level area of $37. It may happen if today's candle closes with small or no wicks.
SOL is trading at $35.74 at press time.
MATIC/USD
MATIC is the biggest gainer today as the rate has rocketed by 4.56%.
MATIC has bounced off the $0.80 mark, which means that bears are not ready for a further drop. At the moment, $0.83 plays a key role in the continued rise. If bulls can conquer it, the breakout may lead to the resistance at 0.8448 soon.
MATIC is trading at $0.8237 at press time.
Yuri Molchan
Godfrey Benjamin