At the end of the week, the cryptocurrency market has entered a short-term correction phase as some coins from the Top 10 list are in the red zone.
The main data for Bitcoin (BTC), Ethereum (ETH) and XRP:
|
Name
|
Ticker
|
Market Cap
|
Price
|
Volume (24h)
|
Change (24h)
|
|
Bitcoin
|
BTC
|
$433,691,429,957 | $23,421.39 | $42,585,846,715 | 1.87% |
|
Ethereum
|
ETH
|
$73,404,844,724 | $645.97 | $15,287,234,909 | -1.11% |
|
XRP
|
XRP
|
$25,845,742,899 | $0.570902 | $10,352,626,106 | -1.23% |
BTC/USD
Bitcoin (BTC) is the biggest gainer among the Top 3 coins this week. The rate of the main crypto has gone up by 20% over the past 7 days.
On the daily chart, Bitcoin (BTC) is not going to face a correction even in the short-term projection. The selling trading volume is low, which means that bears have not entered the market yet. Applying the Fibonacci retracement on the chart, the closest resistance level is located around $25,200; it may be achieved next week.
Bitcoin is trading at $23,420 at press time.
ETH/USD
Ethereum (ETH) has been bearish since yesterday, however, the rate of the leading altcoin has risen by 10% over the last week.
Ethereum (ETH) has much more space for growth as the coin has not updated its peak yet. On the weekly time frame, the next resistance at which a short-term drop may occur is the level of $731. If bulls keep trading above $640, the resistance may be attained shortly.
Ethereum is trading at $646.37 at press time.
XRP/USD
XRP is the top loser today as its rate has gone down by 1.23% over the last 24 hours.
On the 8H chart, XRP is trading in a narrow range, gathering efforts for a sharp move. From the technical point of view, one may expect continued growth as most of the liquidity is focused in the area around $0.60.
In case bulls manage to hold this level, there is a chance of getting to $0.65.
XRP is trading at $0.5696 at press time.
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