Can altcoins keep rising faster than the biggest cryptocurrency?
The last day of the week has started with bulls being firmly in control. However, bears have almost seized the initiative.
Top coins by CoinMarketCap
BTC/USD
The passing week has been positive for Bitcoin (BTC), with its price rising by 8 percent.
BTC/USD chart by TradingView
On the daily chart, Bitcoin (BTC) has once again bounced off the support at $30,000, trying to fix in the area of $34,000.
At the moment, the more likely price action is continued growth to the level of the most liquidity around $37,000 where a correction might happen.
Bitcoin is trading at $34,273 at press time.
XRP/USD
The price of XRP has gone down by 0.18 percent since yesterday. Overall, it increased by 2.83 percent over the past week.
XRP/USD chart by TradingView
From the technical point of view, XRP may go lower since it could not fix in the area of $0.70. This is why it is reasonable to expect the retest of the support at $0.50 one more time.
XRP is trading at $0.5932 at press time.
ADA/USD
Cardano (ADA) is the smallest gainer from the list. Its price has gone up only by 1.68 percent over the last week.
ADA/USD chart by Trading View
Even though the price of Cardano (ADA) has remained almost unchanged over the last week, the trading volume is low, which means that there is little intention to keep pushing the rate lower. This is why there is a high probability of seeing the test of the liquidity level at $1.33 next week.
ADA is trading at $1.21 at press time.
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Author
Denys Serhiichuk
U.Today
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.
