The last day of the week is about end on a bearish note. Yet, the top coins are trying to bounce back. Bitcoin SV (BSV) has suffered the most since yesterday's drop, as the rate for the altcoin lost 6.32%.
Below is the vital information on Bitcoin (BTC), Ethereum (ETH), and XRP:
|
Name |
Ticker |
Market Cap |
Price |
Volume (24H) |
Change (24H) |
|
Bitcoin |
BTC |
$166,788,323,026 |
$9,056.22 |
$16,713,559,699 |
0.01% |
|
Ethereum |
ETH |
$24,959,565,363 |
$223.78 |
$7,277,625,925 |
-1.75% |
|
XRP |
XRP |
$7,914,955,821 |
$0.178838 |
$1,261,500,844 |
-0.99% |
BTC/USD
Bitcoin (BTC) continues to consolidate in the $9,000-$10,00 range despite yesterday's drop to $8,900. The rate is unlikely to go below $9,000 as the level of trading volume is low.
Looking at the daily time frame, the leading crypto has made the far rates of the $9,000 mark. Applying the Fibonacci retracement to the chart from its local peak to bottom, Bitcoin (BTC) is about to return to the 38.2% level, which corresponds to the $9,445 mark. Here, liquidity level is quite high, which a prerequisite for an upward movement.
At press time, Bitcoin was trading at $9,045.
ETH/USD
Ethereum (ETH) has dropped more than Bitcoin (BTC); however, it might still come back to its resistance levels. The rate of the main altcoin has declined by 3.16% from the previous week.
The trading volume was low during yesterday's decline. This means that the bears are unlikely to move towards $210 and below. The bulls are currently trying to return to their previous levels around the $230 mark. The more likely price action for Ethereum (ETH) may be a retest of the 50-Day Moving Average ($232). If buyers manage to break the mark, then one might consider a growth continuation towards $250 in July.
At press time, Ethereum was trading at $222.85.
XRP/USD
XRP has shown significantly better price dynamics than Ethereum (ETH). The price of the coin has dropped by 0.81% as compared to the previous 24 hours.
XRP found its local bottom at $0.1730, followed by a bounce off. As with the case of Ethereum (ETH), a continuing decline is unlikely to occur as the bears have run out of fuel. This is based on the trading volume. However, there is a reason for a growth continuation as there is a bullish divergence on the Relative Strength Index (RSI). Respectively, the growth might near its resistance level at $0.1870.
At press time, XRP was trading at $0.1778.
Yuri Molchan
Tomiwabold Olajide