Despite the correction of some coins from the top 10 list, the bullish trend continued on the cryptocurrency market.
Top 10 coins by CoinMarketCap
BTC/USD
Yesterday, the bears pushed the Bitcoin (BTC) price back below the support of $45,200, which limited the pullback from the all-time high. The decline has stopped around $44,000. Trading volumes decreased and the pair consolidated in a short-term consolidation.
BTC/USD chart by TradingView
Attempts to restore the price are still taking place at small volumes, so today it is possible that the decline will continue below the two-hour EMA55. If the moving average is able to stop the pullback, then buyers might get to the mark of $50,000.
Bitcoin is trading at $47,480 at press time.
ETH/USD
Yesterday morning, buyers managed to renew the all-time high to $1,839 before the price pulled back to the support of $1,700.
ETH/USD chart by TradingView
A rather strong bearish momentum was able to pierce the two-hour moving average, but by this morning, the pair has held above this level of average prices. If during the day EMA55 limits the onslaught of sellers, the pair will return to the resistance zone around $1,850.
Ethereum is trading at $1,792 at press time.
XRP/USD
Yesterday morning, buyers broke through the psychological resistance at the level of $0.50 and tested the level of $0.543.
XRP/USD chart by TradingView
The sellers' reaction was a rather strong bearish impulse, which forced a test of the upper border of the sideways corridor of $0.45. This level worked as a support and the price bounced to the area of $0.50, trying to gain a foothold above it in consolidation.
Now trading volumes have decreased and price volatility has decreased. One believes that today the XRP price will consolidate above the $0.50 level.
XRP is trading at $0.5267 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
Editors’ Picks
New York Attorney General reaches $2 billion settlement with Genesis after claims of fraud
New York Attorney General Letitia James says her office has secured a $2 billion settlement from Genesis. AG Letitia James sued the crypto company in October on account of lying and defrauding investors of over $1 billion.
Digital asset weekly inflows jump over 600% following response to CPI report
Coinshares weekly report of digital asset flows shows that crypto assets witnessed more than a 600% increase in net inflows last week after US Consumer Price Index saw a softer-than-expected inflation increase.
Ethereum sees a 16% spike as Bloomberg analysts surprisingly increase approval odds to 75%
Ethereum's (ETH) price gained over 16% on Monday as Bloomberg analysts updated their odds for spot Ethereum ETF approval to 75%. Grayscale’s CEO stepping down from his role days before the Securities & Exchange Commission (SEC) decides on the ETFs has also added complexity to the predictions of analysts.
Tokens with high FDVs, low circulating supply face fierce criticism from crypto community
Tokens with high fully-diluted valuations (FDV) have been subject to fierce criticism recently following a series of token unlocks that has caused losses for several investors. As a result, Binance has said in an announcement on Monday that it will give more focus to small and medium-valued crypto projects.
Bitcoin: Is BTC out of the woods? Premium
Bitcoin price shows signs of continuing its uptrend, providing a buying opportunity between $64,580 to $63,095. On-chain metrics forecast a bullish outlook for BTC ahead. If BTC clears $70,000, the chances of resuming the uptrend would skyrocket.