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The new week has started with the further rise of the cryptocurrency market.
The rate of Ethereum (ETH) is rising faster than Bitcoin (BTC), going up by 0.77%.
On the daily chart, the price is trading in the middle of yesterday's candle, which means that Ethereum (ETH) has not accumulated enough power for a further move. Such a statement is also confirmed by the declining volume. In this case, the more likely scenario is sideways trading in the range of $1,600-$1,650 for the next few days.
Ethereum is trading at $1,635 at press time.
XRP/USD
XRP is one of the biggest gainers today, rising by 4%.
XRP seems unable to stop its rise as the price has broken the resistance level at $0.41832. If buyers can hold the gained initiative until the end of the day, the accumulated energy might be enough for a continued upward move to the $0.46 zone. Such a scenario is relevant until the end of the current week.
XRP is trading at $0.4229 at press time.
Alex Dovbnya
Vladislav Sopov
Dan Burgin