How long is the altcoin rally going to last?

Denys Serhiichuk U.Today

Most of the coins have continued their growth today. However, some of them have entered a correction phase.

Top 10 coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) could not keep the growth, and its price has gone down by 2.22 percent as a result.

BTC/USD chart by TradingView

Despite the dip, Bitcoin (BTC) does not look bearish while it keeps trading above $61,500.

The volatility has reduced, which means that the sideways trend in the range of $62,000-$63,000 is the most likely scenario until the end of the week.

Bitcoin is trading at $62,800 at press time.

ETH/USD

Ethereum (ETH) is more bullish than Bitcoin (BTC). The rate of the main altcoin has increased by 3 percent since yesterday.

ETH/USD chart by TradingView

On the daily chart, Ethereum (ETH) remains bullish, aiming at the $2,600 mark. The trading volume is low, which means that bears are not so active yet.

Ethereum is trading at $2,467 at press time.

XRP/USD

XRP is the top loser today, with its price going down by 4 percent.

XRP/USD chart by TradingView

XRP is yet to decide its next move. In this regard, sideways trading might prevail in the mid-term. Hence, the area of $1.75-$1.85 is a magnet for buyers in the short-term.

XRP is trading at $1.71 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.

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How long is the altcoin rally going to last?