Cryptocurrency Market Update: ETH/BTC breaks above triangle formation, BTC/USD jumps back above $9,100
|- ETH/BTC breaks above triangle formation to possibly trigger positive market sentiment.
- BTC/USD has jumped back above the $9,100–level.
- ETH/USD has peeked above the SMA 50 curve.
- XRP/USD bulls must conquer strong resistance at $0.1773.
ETH/BTC daily chart
ETH/BTC bulls have come roaring back in the early hours of Friday. ETH/BTC has gone up from 0.0249 to 0.025006 and is currently negotiating with the 0.025036 resistance line. An ETH/BTC bullish breakout has historically led to positive results for the market. It will be interesting to see how it pans out.
BTC/USD daily chart
After a brief foray below the $9,100-level, BTC/USD has seemingly steadied its ship following a bullish recovery. The price has gone up from $9,092 to $9,111.12. BTC/USD faces strong resistance at $9,150, $9,237, $9,312.35 (SMA 20) and $9,424 (SMA 50). On the downside, healthy support lies at $9,000.45 and $8,904.20
ETH/USD daily chart
ETH/USD went up from $226.50 to $227.60 in the early hours of Friday. In the process, the price managed to break above the SMA 50 curve. The price needs to overcome resistance at $230.65 (SMA 20), $238 and $248.15 to sustain bullish momentum. The price has healthy support levels at $227 (SMA 50), $225 and $220.35.
XRP/USD daily chart
XRP/USD bulls took charge following a bearish Thursday. The price has gone up from $0.1748 to $0.1761 in the early hours of Friday. The price continues to trend in the lower half of the 20-day Bollinger Band, while the RSI indicator is trending at the edge of the oversold zone.
XRP/USD bulls face some considerable resistance level upfront. Up first, they will need to conquer the $0.1773 resistance line, which has repeatedly thwarted the buyers before. Additional resistance lies at $0.1825, $0.1838 (SMA 20) and $0.1936 (SMA 50).
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