Bitcoin, Ethereum, Ripple overview: Major coins switch to the recovery mode, BTC tests critical resistance

  • Dominant cryptocurrencies are gaining ground on Monday.
  • BTC/USD attempts to break above $3,700.
  • Ethereum beats the market with 11% growth.

The cryptocurrency market is green this Monday morning. All top-20 coins are on the positive territory, gaining from 0.6% to 11% of their respective value in recent 24 hours. The total capitalization of all digital assets in circulation reached $126B during early Asian hours, which is the best value in more than a month.

Bitcoin is changing hands at $3,675 after a short-lived attempt to break above $3,700 handle. The most significant digital asset has gained 2.6% since this time on Sunday amid global cryptocurrency market recovery. The bullish momentum in BTC/USD started gaining traction after the price broke above $3,650 resistance. Now the focus has shifted onto $3,700 barrier that stopped the recovery during the previous bullish episode.

Ethereum is the growth leader today. The coin has gained over 11% and came close to a critical $140.00 before retracing to $138.34. The sell-off fits the definition of a healthy correction from an overbought territory as long as the price stays above $130.00. However, the really critical support lies at $125.00-$124.50. This area contains DMA50, SMA100 1-hour, and 23.6% Fibo retracement weekly.

Ripple’s XRP is trading at $0.3114, close to intraday high. XRP’s recovery is capped by the sloping trend line from November 6 high at $0.5668. Once it is cleared, the upside will gain traction with the next aim at the congestion zone $0.3240 and DMA50 at $0.3350.

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price prediction: All eyes on the $8,530 support line as BTC/USD sinks

BTC/USD is on course for charting three bearish days in a row. The sellers dropped the price of BTC/USD from $8,764.45 to $8,631.70 this Thursday. So far this Friday, BTC/USD has fallen further to $8,601.15.

More Bitcoin News

Altcoin segment: bullish war drums

Sunny King, the creator of the consensus protocol Proof of Stake (PoS), has stated in a recent interview that Bitcoin has a vital role as a reference value in the crypto-verse, but that the highest growth potential is in the Altcoin segment.

More Cryptocurrencies News

ETH/USD hovers around $185.00, vulnerable to further losses

ETH/USD is trading at $185.27 at the time of writing, having recovered from the intraday low of $184.11. The second-largest digital asset with the current market value of $18.8 billion has lost 1.34% of its value since the beginning of Thursday and stayed mostly unchanged on a day-to-day basis. 

More Ethereum News

Ripple price prediction: XRP/USD smashes below critical support of $0.2700 – Confluence Detector

Ripple’s XRP extended thee sell-off to $0.2633 on Thursday. The coin is moving in sync with the market, controlled by bearish sentiments. A sustainable move below $0.2700 support bodes ill for XRP's short-term forecast, making it vulnerable to further losses.

More Ripple News


Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast