Cover image via www.tradingview.com

The cryptocurrency market is trying to recover. And if assets such as Bitcoin and Ethereum demonstrate a readiness to continue the rise, then Litecoin and EOS will reach for the next test of immediate support. Only after that, growth signals may appear and one can expect another attempt at a qualitative rise in asset value.

Top 10 coins by Coinstats

The crucial data for Bitcoin (BTC), Ethereum (ETH) and XRP today:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin 

BTC

$199,496,434,491 $10,788.19 $34,015,899, 441 -1.26%

Ethereum

ETH

$42,545,910,201 $377.72 $20,965,078, 505 2.58%

XRP

XRP

$11,211,486,484 $0.248910 $2,376,939 800 1.98%

BTC/USD

On the four-hour chart, the price has left the downtrend channel; however, the RSI indicator is testing the resistance line. For this reason, one should not exclude yet another attempt to decline to the level of $10,540 with subsequent upward movement.

BTC/USD chart by TradingView

Its cancellation would be a breakdown of the level of $9,505, which will indicate a break in the lower border of the descending channel and may provoke an accelerated fall in the value of the asset. As a rule, the breakdown of the downward channel is a very reliable signal for further development of bearish momentum.

Bitcoin is trading at $10,768 at press time.

ETH/USD

ETH/USD quotes on the daily chart were able to push off from the lower border of the Bollinger Bands indicator, but the breakdown of the middle line has not yet taken place. Such a signal would indicate a full-fledged resumption of the upward trend.

ETH/USD chart by TradingView

Potential remains for the completion of the formation of the "5-0" upward pattern—only the test of the lower border of the upward channel is missing. A strong signal in favor of continuing the rise would be the breakdown of the trend line on the RSI indicator. A positive step would be the breakdown of the support area with the price fixing below the $250 level, which would indicate the cancellation of the "5-0" pattern and the continuation of the fall to the $150 level.

Ethereum is trading at $378.64 at press time.

XRP/USD

Yesterday, during the day, the XRP price consolidated for a long time at the two-hour EMA55 level and, late at night, buyers managed to form a powerful bullish impulse that broke through the $0.250 resistance and set a two-week high at $0.258.

XRP/USD chart by TradingView

However, the XRP price could not stay in the high zone and rolled back to the $0.250 level in the morning. If today this level keeps the pair from further decline, then growth will continue to a new weekly high in the area of $0.270.

XRP is trading at $0.2488 at press time.

 


Any financial and market information given on U.Today is written for informational purposes only. Conduct your own research by contacting financial experts before making any investment decisions.

Recommended content


Recommended Content

Editors’ Picks

COTI price surges on Central Bank of Israel CBDC project participation

COTI price surges on Central Bank of Israel CBDC project participation

COTI (COTI) price retraces by 1.2% at $0.1125 at the time of writing on Wednesday after breaking above a descending wedge pattern last Friday, leading to an 8% rally over the subsequent four days. 

More Cryptocurrencies News

Bitcoin price could react to potential clash between Kamala Harris and Donald Trump at July Bitcoin Conference

Bitcoin price could react to potential clash between Kamala Harris and Donald Trump at July Bitcoin Conference

Bitcoin price struggles around $66,000 on Wednesday. US spot Bitcoin ETFs experienced minor outflows on Tuesday, coinciding with the continued movement of Mt. Gox funds for repayment, which could exert downward pressure on Bitcoin's price.

More Bitcoin News

Solana hovers around $180, resists sell-off despite $22 million SOL transfer

Solana hovers around $180, resists sell-off despite $22 million SOL transfer

Solana whale transferred nearly 124,000 SOL tokens to Binance on Monday. The $22 million transfer could contribute to selling pressure on Solana, raising concerns among traders. 

More Solana News

PEPE price poised for a rally after retesting trendline support

PEPE price poised for a rally after retesting trendline support

Pepe price breaks out of the descending channel pattern, signaling a change in market structure from bearish to bullish. On-chain data shows that PEPE's Long-to-Short ratio is 1.66, suggesting a bullish bias.

More PEPE News

Bitcoin: Will BTC continue its bullish momentum?

Bitcoin: Will BTC continue its bullish momentum?

Bitcoin (BTC) price increased by 5.5% this week until Friday after breaking above a descending trendline. Currently, it is trading slightly higher by 0.23% at $64,166.

Read full analysis

BTC

ETH

XRP