- Bitcoin remains on track to post daily gains for third straight day.
- Ripple closes in on critical $0.20 handle on Sunday.
- Ethereum gains traction, adds more than 4% to turn positive for week.
After moving sideways in tight ranges for the large part of the day on Sunday, major cryptocurrencies gained traction despite a lack of apparent positive developments that are relevant for crypto traders.
Top-three coins price overview
Bitcoin (BTC/USD) posted modest gains on Friday and Saturday after finding support near the $7000 mark on Thursday. As of writing, the pair was up 1.4% on the day and testing the critical $7400 resistance (Fibonacci %23.6 retracement of the October 26-December 18 drop). With a weekly close above that level, the pair could meet an interim resistance at $7600 ahead of $8000 (Fibonacci 38.2% retracement October 26-December 18 drop). On the other hand, supports are located at $7200 (20-day moving average), $7000 (psychological level/December 27 low) and $6430 (December 18 low).
Ethereum (ETH/USD) is adding 4.3% on the day and trading around $133.50 as the best-performing cryptocurrency among the 10 biggest cryptocurrencies with regards to market capitalization. On January 1st, the Muir Glacier hard fork will be executed on the Ethereum network. With this decisive rebound, the pair remains on track to close the day above the 20-day moving average for the first time since mid-November. On the upside, $135-$136 area aligns as the initial resistance ahead of $142 (December 16 high) and $150. Supports could be seen at $132 (20-day moving average), $122 (December 27 low/March 4 low) and $116 (December 18 low/February 11 low).
Ripple (XRP(USD) extended its recovery into a fourth straight day on Sunday and was last seen trading at $0.1970, adding 1.6% on a daily basis. $0.2000 (upper limit of the 11-day trading range) is the initial hurdle ahead of $0.2030 and $0.2065 (December 17 high). On the downside, supports could be seen at $0.1850 (December 27 low/December 20 low) and $0.1760 (December 18 low/25-month low).
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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange
Pendle (PENDLE) price is among the top performers in the cryptocurrency market today, posting double-digit gains. Its peers in the altcoin space are not as forthcoming even as the market enjoys bullish sentiment inspired by Bitcoin (BTC) price.
Ethereum shows signs of a potential rally as suspected Justin Sun wallet buys heavily
Ethereum's (ETH) recent price movement hints at a potential rally despite ETH ETPs recording outflows. The recent price improvement follows the fourth Bitcoin halving and a suspected Justin Sun wallet purchasing large numbers of ETH.
Floki poised for growth after listing on Revolut
Floki's (FLOKI) team announced in an X post on Monday that the meme coin would be listed on the popular neobank and Fintech platform Revolut. Floki could rise further following key partnerships to boost retail usage.
Jupiter DEX second Launchpad vote concludes, JUP price rises 5%
Jupiter, a Solana-based decentralized exchange (DEX) has completed the second launchpad (LFG) vote to identify the two projects that will debut on its platform. On March 30, the aggregator network had unveiled its Core Working Group (CWG) budget proposal voting.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?