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Are the coins from the top ten list ready to keep the growth growing?

Despite the fact that the majority of the top 10 coins are in the green zone, there are a few exceptions to the rule. DOGE and Internet Computer (ICP) are under bearish influence.

chart

Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has finally gotten out of the correction phase as its rate has increased by almost 2% over the last day.

BTCUSD

BTC/USD chart by TradingView

On the 4H chart, Bitcoin (BTC) is trading sideways; however, the short-term scenario is more bearish than bullish. A possible drop is confirmed by increasing selling trading volume, which means that traders might expect a fall to $53,500 very soon.

But it does not mean that bears will seize the initiative in the long-term projection.

Bitcoin is trading at $55,620 at press time.

ETH/USD

Ethereum (ETH) has gained more than Bitcoin (BTC) as its price has increased by 4% and set a new peak at $4,400.

ETHUSD

ETH/USD chart by TradingView

Even though the long-term picture of Ethereum (ETH) has not been broken, the drop to the mirror level at $3,960 may occur before continued growth. The trading volume is low, which means that buyers may not have fixed their positions yet. In this case, a further rise to $4,500 is possible in case of a bounceback from the support.

Ethereum is trading at $4,215 at press time.

XRP/USD

XRP could not show the same growth as Bitcoin (BTC) or Ethereum (ETH), and its rate has declined by 2%.

XRPUSD

XRP/USD chart by TradingView

Despite the decline, XRP is trading above yesterday's minimum levels, which means that short-term growth is more likely than a drop. Thus, the selling trading volume remains low. All in all, the nearest resistance at $1.59 is the main target for bulls for the upcoming days.

XRP is trading at $1.42 at press time.

DOGE/USD

DOGE is the main loser today as its rate has gone down by more than 5% since yesterday.

Chart

DOGE/USD chart by TradingView

DOGE is neither bullish nor bearish at the moment. However, the selling trading volume has decreased, which means that bulls might retest the resistance at $0.57 shortly.

DOGE is trading at $0.4747 at press time.


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Author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.

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