Price Analysis

BTC, ETH & XRP Exhibit Fresh Growth and Instigate Bull Run

The major coins of the crypto market make a notable sound as all the three viz., Bitcoin, Ethereum, and XRP are seen testing the major resistances.

Points to be covered:

  • Bitcoin price trend inclines towards the upper trading price range as it steeply tests the major resistance at $9,500 and is currently trading around $9,700
  • BTC price marks a fresh 90-day high at $9,824 over the past 24 hours as the coin gains the requires pace and support
  • Ethereum leaps by over 10% within a 24-hour trading duration, while, currently trades at $217.30 after hitting a fresh 90-day high at $220.80
  • ETH price grows impressively in a day as it hits all the resistances with notable pace and support throughout
  • XRP leaps to a 90-day high price at $0.28, although, the MACD holds a bearish crossover as it pulls back to $0.281
  • The RSI of XRP is seen sliding downsides as the utter growth manifested faces a small correction, at the press time

Bitcoin Price Analysis

Bitcoin Price News
BTC/USD chart by TradingView

While comparing the three driving forces of the global crypto market, we cannot underestimate either of them as BTC, ETH, and XRP are all ranging after an anguished end to the bygone year.

Therefore, taking a glance at BTC/USD movement on Coinbase, we see that the coin is trading towards the upper edge of the price range as it exhibits a clear rise and has rightly sustained through all the major resistances. Also, the 20-day Bollinger Bands laid are showing a moderate width and we do not foresee any unpredictable volatility in the upcoming days. The current trading price of Bitcoin is supported by all the imminent daily moving averages at $9,700 and $9,500 majorly.

While the MACD of Bitcoin is seen moving adjacent to the signal line as the price of the coin pulled back after hitting a fresh 90-day high, and the RSI is at 51.06 with a downward slide yet exhibits no extremities.

Ethereum Price Analysis

Ethereum Price News
ETH/USD chart by TradingView

Analyzing the 24-hour movement of ETH/USD on Coinbase, we see that the coin is still ranging above 38.20% Fib Retracement area as it records a fresh 90-day high at $220.80. Ethereum price has, however, pulled back slightly as it currently trades at $217.30. Important to note that there is steady long-term support from the 200-day daily MA.

The 20-day Bollinger Bands laid also have a moderate width, and therefore, we do not foresee any major volatility in the upcoming days. The RSI of Ethereum is at 44.17 and is seen sliding downwards due to the intraday pullback, yet, exhibits no extremities at present.

XRP Price Analysis

XRP Price News
XRP/USD chart by TradingView

Taking a glance at half-hourly XRP/USD move, we see that the price of XRP just like the king of cryptocurrencies and the king of altcoins is seen recording new heights as it also exhibits a fresh 90-day high. Just like the other two, 20-day Bollinger Bands are seen having a moderate band width with total support from the daily moving averages.

Although, the MACD of Ripple cryptocurrency is having a bearish crossover as the signal line overrides the MACD line due to intraday correction, while RSI lies at 46.57.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.
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