The cryptocurrency market rocketed up as Bitcoin (BTC) rose from $7,300 to $7,800 in just a few minutes. Respectively, the general mood has switched from a bearish tone to a bullish one as all of the top 10 coins are in the green.
Here are how the positions for Bitcoin (BTC), Ethereum (ETH), and XRP (XRP) are looking today:
|
Name |
Ticker |
Market Cap |
Price |
Volume (24H) |
Change (24H) |
|
Bitcoin |
BTC |
$135,562,629,098 |
$7,496.78 |
$18,870,981,937 |
1.77% |
|
Ethereum |
ETH |
$16,318,600,089 |
$149.99 |
$7,306,406,754 |
1.94% |
|
XRP |
XRP |
$9,519,379,066 |
$0.219920 |
$1,312,180,687 |
0.59% |
BTC/USD
The prediction that was made a few days ago is justifiable as BTC could rise the above $7,600 mark.
Looking at the 1H chart, BTC showed abnormal growth. However, this was a pump rather than the start of a bullish trend. The candle's wick is almost the same size as the "body", meaning that a fast decline may occur.
In this particular instance, the nearest support level for BTC is around the $7,400 mark.
At press time, BTC is trading at $7,471.
ETH/USD
ETH followed the same path as BTC as the rate for the largest altcoin shot up by almost 6% over the course of a few minutes.
While ETH has copied BTC's price movement, it is unlikely to fix growth. With regards to the nearest price scenario, ETH may go below the $150 mark as the relative strength index (RSI) indicator shows that it is oversold. In short, the growth was just a pump as the trend remains bearish.
At press time, ETH is trading at $150.22.
XRP/USD
XRP reacted the least on the sharp rise in price for BTC.
Significant trading volume occurred during the sharp increase; however, XRP is currently trending downwards. As for the nearest price forecast, one should expect an update of the $0.22 level. Moreover, the Bollinger Bands confirm a continuation of bearish sentiments.
At press time, XRP is trading at $0.2212.
