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The last working day of the week has turned out to be bullish for the cryptocurrency market as the majority of the coins are in the green zone. XRP is the only exception from the rule, falling by 1.63%.
BTC/USD
Yesterday morning, the two-hour EMA55 stopped the BTC price pullback and acted as support for the recovery. At the end of the day, the bulls broke above the psychological level of $50,000, setting a weekly high around the level of $51,380. In the morning, the maximum was renewed above the level of $51,500.
On the daily time frame, the Stoch RSI indicator lines are going off the charts in the overbought zone.
If the bulls intensify the pressure today, the price can test the reversal level of $53,400.
Bitcoin is trading at $51,159 at press time.
XRP/USD
Yesterday, the XRP price traded sideways between the $0.96 support and $1 resistance. During the day, the pair tested the lower boundary of the indicated corridor, and at the end of the day, it pierced the psychological level of $1, setting a maximum around $1.016.
As of this morning, the pair continues to struggle in a sideways range, and in the near future, it may test the support of $0.96. If the lower boundary of the sideways channel is broken, the pair can roll back to the area of the two-hour EMA55.
XRP is trading at $0.9594 at press time.
BNB/USD
Binance Coin (BNB) is also following the bullish trend, rising by 3.54% since yesterday.
Analyzing the daily chart, Binance Coin (BNB) may have accumulated enough energy for a rise. The selling trading volume is low, which means that sellers are weaker than bulls at the moment. Respectively, if the rate of the native exchange coin can hold above $540, there is a chance to see the test of the liquidity level around $582 soon.
BNB is trading at $546.4 at press time.
MATIC/USD
The rate of MATIC is going up slower than BNB, rising by 1.73%.
Despite today's slight growth, MATIC remains bullish until the price trades above the support level at $2.521. The buyers' power is also confirmed by an increasing trading volume, which means that bulls are ready to get the rate up to new peaks.
In this case, if MATIC can fix above yesterday's high, the vital mark of $3 can be attained by the end of the month.
MATIC is trading at $2.557 at press time.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Arman Shirinyan
Alex Dovbnya
Dan Burgin
Vladislav Sopov