Has the market accumulated enough energy for a continued rise?
The new week has begun with the growth of the market as all of the top 10 coins are in the green zone.
Top coins by CoinMarketCap
BTC/USD
Bitcoin (BTC) has rocketed by 5.61% over the last 24 hours.
BTC/USD chart by TradingView
Bitcoin (BTC) is again above the vital $30,000 mark. Moreover, the rate has broken $31,000 against the increased buying volume, which means that bulls are ready to keep the upward movement. If they can hold the gained initiative, the resistance at $32,650 might be attained very soon.
Bitcoin is trading at $31,364 at press time.
ETH/USD
Ethereum (ETH) is the biggest gainer today as the rate of the main altcoin has risen by 6.65%.
ETH/USD chart by TradingView
Ethereum (ETH) has followed the rise of Bitcoin (BTC). At the moment, one needs to pay close attention to the $1,900 mark.
If the daily candle fixes above it with no long wicks, there are good chances to see a further rise to the $2,000 zone by the end of the week.
Ethereum is trading at $1,916 at press time.
XRP/USD
XRP has gained the least, rising by only 2.59% since yesterday.
XRP/USD chart by TradingView
XRP has come back to the $0.40 mark, confirming bulls' power. From another point of view, the rate remains trading in the middle of a wide range between the support at $0.3644 and the resistance at $0.4684. In this case, the more likely scenario is continued sideways trading around $0.40 so bulls accumulate more energy for the further rise.
XRP is trading at $0.4039 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.
