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BTC, XRP and ADA Price Analysis for February 11

Price Analysis
Fri, 02/11/2022 - 16:39
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Denys Serhiichuk
Can the cryptocurrency market remain bullish after the most recent decline?
BTC, XRP and ADA Price Analysis for February 11
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bulls appear to be unable to maintain market growth, with the top 10 coins being back in the red zone. 

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The price of Bitcoin has fallen about 2.78% over the last 24 hours.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

However, the price continues to trade near the resistance level at $45,478, which means that bulls are not giving up. 

Related
BTC, XRP, ADA and BNB Price Analysis for February 9

If the buying trading volume increases and the candle fixes in the area of $45,500, there is a chance of seeing the price of the main coin climbing to the zone of $46,000 next week.

Bitcoin is trading at $43,685 at press time.

XRP/USD

XRP is the biggest loser on today's list, falling by about 5.42%.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

Despite the price drop, XRP keeps trading in the zone of the most liquidity around $0.80 where most of the buying power is accumulated. Thus, the selling trading volume is declining, which means that bears are losing their power. If buyers can capitalize on this chance and keep the price in the area of $0.80, the growth may continue to $0.85 next week.

XRP is trading at $0.82 at press time.

ADA/USD

Cardano (ADA) has also followed the example of Bitcoin (BTC), going down by 3.25%.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

After yesterday's bearish candle, bulls have managed to pull off a failed breakout and push the price back to the zone around $1.20.

Related
BTC, ETH and SOL Price Analysis for February 8

If nothing changes by the end of the day, one may expect bulls to attack the resistance level at $1.209 within the next few days.

ADA is trading at $1.157 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.