Bulls are trying to keep the short-term growth going as most of the coins have come back to the green zone.
Top coins by CoinMarketCap
BTC/USD
Buyers took advantage of the support at $36,000 yesterday and tried to gain a foothold above the two-hour EMA55.
Great difficulties were caused by the resistance of the 38.2% fibo ($37,150). At the end of the day, this level held back the rise in the price of BTC.
BTC/USD chart by TradingView
Today, the bulls can try to break through the defense of the bears and test the level of $38,600. The most optimistic recovery option involves a retest of the psychological mark of $40,000.
Bitcoin is trading at $37,818 at press time.
ETH/USD
Yesterday, buyers were able to continue the recovery of the Ethereum (ETH) price to the two-hour EMA55 area. The daily high was fixed at $2,511. However, the decrease in volumes at the end of the day did not allow the pair to consolidate above the level of average prices.
ETH/USD chart by TradingView
If bulls can hold the rate above the EMA, there are chances to see ETH's test of the $2,800 level shortly.
Such a scenario is relevant until the end of the week. In another case, the return to $2,400 might be a short signal with a potential target of $2,200.
Ethereum is trading at $2,639 at press time.
XRP/USD
Yesterday, there was no strong pressure from the bears, and at the end of the day, the price of XRP was able to test the two-hour EMA55.
XRP/USD chart by TradingView
By this morning, the pair has not yet been able to overcome this moving average. If during the day, buyers manage to break through to the $0.65 area, then by the end of the day, the XRP/USD pair will be able to gain a foothold above the average price level.
XRP is trading at $0.6363 at press time.
Any financial and market information given on U.Today is written for informational purposes only. Conduct your own research by contacting financial experts before making any investment decisions.
Recommended Content
Editors’ Picks
Dogwifhat price pumps 5% ahead of possible Coinbase effect
Dogwifhat (WIF) price recorded an uptick on Thursday, going as far as to outperform its peers in the meme coins space. Second only to Bonk Inu (BONK), WIF token’s show of strength was not just influenced by Bitcoin (BTC) price reclaiming above $63,000.
Runes likely to have massive support after BRC-20 and Ordinals frenzy
PUPS, WZRD, and PEPE are gaining liquidity through Bitcoin Ordinals. Creator of Bitcoin’s Ordinals protocol is debuting a new fungible token standard to rival BRC-20, Runes.
Ethereum shows firm support at key level as its correlation with US indices increase
Ethereum's price continued a sideways movement on Thursday as the market still awaits a trigger. Ethereum isn't alone in this horizontal trend; several major index funds have also traded sideways.
Mango Market attacker convicted of fraud and market manipulation
Mango Market attacker Avi Eisenberg was convicted by a federal jury on Thursday for "fraudulently obtaining" funds from the Solana-based decentralized exchange (DEX). He could face up to 20 years in prison for his role in the $110 million attack.
Bitcoin: BTC’s rangebound movement leaves traders confused
Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established.