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How good are Ethereum (ETH) and XRP's chances to keep rising faster than Bitcoin (BTC)?

How good are Ethereum (ETH) and XRP's chances to keep rising faster than Bitcoin (BTC)?
Denys SerhiichukDenys SerhiichukU.Today

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.

Chart

Top 10 coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has declined much less than other coins. The decline is 3%.

BTCUSD

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.

ETHUSD

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%.

XRPUSD

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.

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.

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