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TOP 3 Price Analysis: BTC, ETH, XRP — Which Top Coins to Perform Best in Short-Term?

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Tue, 16/06/2020 - 14:19
TOP 3 Price Analysis: BTC, ETH, XRP — Which Top Coins to Perform Best in Short-Term?
Cover image via www.tradingview.com

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The cryptocurrency market has continued the growth it started yesterday when Bitcoin (BTC) and other coins recovered to their previous levels.

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Top 10 coins by Coinstats

The vital information on Bitcoin (BTC), Ethereum (ETH), and XRP is below.

Name

Ticker

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Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$175,697,050,720

$9,545.46

$24,300,852,757

4.77%

Ethereum

ETH

$26,251,734,814

$235.71

$8,989,322,935

5.68%

XRP

XRP

$8,500,831,737

$0.192075

$1,248,243,097

4.23%

BTC/USD

Yesterday morning, the bears pierced the daily EMA55 and set the June low at $8,900. However, there were no large sales anymore, and at medium volumes, the price of Bitcoin (BTC) started to recover quite quickly.

Article image
BTC/USD chart by TradingView

By the end of the day, buyers were able to return the price to $9,441, where the pair consolidated in a narrow lateral range at the end of last week. Today, early in the morning, the price already managed to test $9,600, but at the moment the recovery has slowed down. If bulls continue the offensive, a test of the resistance at $9,800 is possible.

Bitcoin is trading at $9,521 at press time.

ETH/USD

Ethereum (ETH) has recovered from the fall it experienced over the weekend even faster than Bitcoin (BTC). The rate of the leading altcoin has increased by 6.22% over the past 24 hours.

Article image
ETH/USD chart by TradingView

On the 4H chart, you can see a correction wave where Ethereum (ETH) bounced off the support at $220. The ongoing growth is not supported by trading volume, which means that the rise is rather a retest of the resistance to continue the decline. In this regard, it may reach $240 in a few days. 

Ethereum is trading at $235.02 at press time.

XRP/USD

Yesterday, XRP set a June low near the upper border of the downward channel but was able to return to the average price range by the end of the day.

Article image
XRP/USD chart by TradingView

Now the pair is desperately trying to gain a foothold at the two-hour EMA55 level and if buyers can continue to grow, today the price may reach the psychological mark of $0.20. This support will hold the price sideways for some time. If buyers don't manage to continue growth today, then orange support at $0.190 could save the pair from a deep pullback.

XRP is trading at $0.1923 at press time.

 

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