TRENDING:
Australian Unemployment
UK CPI
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Can Bitcoin (BTC) outperform XRP or Ethereum (ETH) soon?

Can Bitcoin (BTC) outperform XRP or Ethereum (ETH) soon?
Denys SerhiichukDenys SerhiichukU.Today

The last day of the week has turned out to be bullish for the cryptocurrency market as most of the coins are trading in the green zone.

Chart

Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has grown the least from our list with a rise of only 0.47% since yesterday.

BTCUSD

BTC/USD chart by TradingView

On the daily chart, the price of Bitcoin (BTC) has made a false breakout of the resistance level at $44,776 once again. At the moment, one needs to pay close attention to where the daily candle closes. If buyers' pressure continues, followed by a high trading volume, there is a chance to see sharp growth next week.

Bitcoin is trading at $44,492 at press time.

ETH/USD

Ethereum (ETH) has gained more than Bitcoin (BTC) as the first altcoin has risen by 0.74%.

ETHUSD

ETH/USD chart by TradingView

Despite the growth, Ethereum (ETH) has not touched its resistance level yet. Thus, the buying trading volume has gone down slightly, which means that bulls might need more time to accumulate energy for a breakout.

If that happens and ETH can overcome the $3,300 mark, the upward move may return the rate to the area around $3,500 soon.

Ethereum is trading at $3,133 at press time.

XRP/USD

XRP is no exception to the rule, going up by 0.76% over the last 24 hours.

XRP

XRP/USD chart by TradingView

Analyzing the mid-term picture, XRP is far away from its key levels, which means that sideways trading is the more likely scenario for the upcoming week. However, if sellers can seize the initiative and return the rate to $0.80, one can expect a decline to the $0.75 mark.

XRP is trading at $0.8295 at press time.

Read full original article on U.Today

Author

Denys Serhiichuk

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

More from Denys Serhiichuk
Share:

Editor's Picks

XRP consolidates as inflows and volume climb

XRP consolidates as inflows and volume climb

Ripple (XRP) retains a slightly bullish outlook on Wednesday despite logging a minor correction from the supply range near $1.15. The remittance token is down 0.5% on the day, reflecting a broader cryptocurrency market drawdown, primarily driven by persistent geopolitical tensions between the United States (US) and Iran in the Middle East.
Bitcoin Price Prediction: BTC recovery holds as ETF inflows persist

Bitcoin Price Prediction: BTC recovery holds as ETF inflows persist

Bitcoin (BTC) trades slightly lower around $66,000 on Wednesday as tensions in the Middle East escalate further. Still, the Crypto King is up over 2.5% so far this week.
South Korea crypto volumes shrink as retail investors shift to stocks

South Korea crypto volumes shrink as retail investors shift to stocks

South Korea’s major crypto exchanges have seen their trading activity fall sharply over the past year as the country’s stock market surged, suggesting retail speculative interest may be shifting toward equities, Cointelegraph analysis shows.
Hyperliquid, Robinhood could lead crypto’s next bull market as DeFi and TradFi converge

Hyperliquid, Robinhood could lead crypto’s next bull market as DeFi and TradFi converge

The next crypto bull market could be driven by the growing convergence between blockchain-based financial infrastructure and traditional finance, according to Bitwise CIO Matt Hougan. In a report published late Tuesday, Hougan argued that crypto may be showing early signs of a market bottom, with Bitcoin gaining 9% since July 1 even as the NASDAQ 100 declined 6%.

Bitcoin’s potential recovery in the second half hinges on these 4 catalysts

Bitcoin’s potential recovery in the second half hinges on these 4 catalysts

Bitcoin (BTC) has fallen over 34% in the first half of this year as the King Crypto failed to capitalize on a good semester for risk assets despite the woes from the Iran war.