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How long is the altcoin rally going to last?

How long is the altcoin rally going to last?
Denys SerhiichukDenys SerhiichukU.Today

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

Chart

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. 

BTCUSD

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.

ETHUSD

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.

XRPUSD

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.

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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