How long is the altcoin rally going to last?
|Most of the coins have continued their growth today. However, some of them have entered a correction phase.
Top 10 coins by CoinMarketCap
BTC/USD
Bitcoin (BTC) could not keep the growth, and its price has gone down by 2.22 percent as a result.
BTC/USD chart by TradingView
Despite the dip, Bitcoin (BTC) does not look bearish while it keeps trading above $61,500.
The volatility has reduced, which means that the sideways trend in the range of $62,000-$63,000 is the most likely scenario until the end of the week.
Bitcoin is trading at $62,800 at press time.
ETH/USD
Ethereum (ETH) is more bullish than Bitcoin (BTC). The rate of the main altcoin has increased by 3 percent since yesterday.
ETH/USD chart by TradingView
On the daily chart, Ethereum (ETH) remains bullish, aiming at the $2,600 mark. The trading volume is low, which means that bears are not so active yet.
Ethereum is trading at $2,467 at press time.
XRP/USD
XRP is the top loser today, with its price going down by 4 percent.
XRP/USD chart by TradingView
XRP is yet to decide its next move. In this regard, sideways trading might prevail in the mid-term. Hence, the area of $1.75-$1.85 is a magnet for buyers in the short-term.
XRP is trading at $1.71 at press time.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.