How good are Ethereum (ETH) and XRP's chances to keep rising faster than Bitcoin (BTC)?
The market has faced a correction as the majority of coins are located in the red zone. Uniswap (UNI) is the top loser, falling by 10% since yesterday.
Top 10 coins by CoinMarketCap
BTC/USD
The rate of Bitcoin (BTC) has declined much less than other coins. The decline is 3%.
BTC/USD chart by TradingView
On the 4H time frame, Bitcoin (BTC) has the chance to restest the level of $57,800 where most of the liquidity is focused.
However, such local growth should be considered a correction after a sharp decline but not the start of a possible long-term rise.
Bitcoin is trading at $56,700 at press time.
ETH/USD
Ethereum (ETH) is the top loser today as the rate of the chief altcoin has gone down by 5% over the last 24 hours.
ETH/USD chart by TradingView
From the technical point of view, Ethereum (ETH) is following the price action of Bitcoin (BTC), and one can also expect a bounceback to the local resistance level around $2,060. If bulls manage to fix there, the next target is the area of $2,110 where most of the liquidity is concentrated.
Ethereum is trading at $2,006 at press time.
XRP/USD
The price of XRP has not lost much compared to Ethereum (ETH). The drop is by 4.20%.
XRP/USD chart by TradingView
XRP also looks bullish in the short-term view. Even though it is too early to think about new peaks, bulls have the chance to retest the level of $1.029 within the next few days.
XRP is trading at $0.9542 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.
