- The Cryptocurrency market is once again in the bullish zone.
- Bitcoin, Ethereum and Ripple XRP are up by more than 10.35%, 8.13% and 7.34% respectively.
- This time Ethereum (ETH) is showing good sign while Ripple’s XRP is still waiting for its chance.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) all are in the bullish zone. Not only these but all others cryptocurrency have also joined the bull run. The total market capitalization of the cryptocurrency market has reached $271 Billion USD.
Bitcoin BTC/USD Price Analysis
Bitcoin joined the bull run today broke the $8200 level and is currently trading at $8777 USD. The market capitalization of Bitcoin is now $155 Billion USD.
From the daily price chart of BTC/USD, it can be concluded that the first resistance level $9048 (R1), while the second resistance level is at $9363 (R2). The third resistance level is at $9943 USD.
While the support levels are at $8469. The second support level is at $8230 and the third support level is at $8000 USD. The third support level will bring the price of Bitcoin (BTC) back into the trap of bear.
Ethereum ETH/USD Price Analysis
Ethereum the 2nd largest cryptocurrency by market capitalization is trading at $268 USD at the press time. The market capitalization at press time is $28,538,266,344 USD as per CoinMarketCap.
Almost all the technical indicators like moving averages are indicating towards a buy zone on a daily basis price chart while the oscillators are in the neutral zone.
Volume Weighted Moving Average (20) on a daily basis is 229.97 and is indicating a massive buy zone.
From the ETH/USD price chart, it can be concluded that the first resistance level for Ethereum is $289 while the second resistance level is $303 USD. The third resistance level comes out to be $316.
If we talk about the support level then the first support level is at $261 and the second support level is at $250. The third support level will bring back ETH price to $232 USD.
Ripple XRP/USD Price Analysis
Ripple XRP/USD currently at the 3rd spot in terms of market capitalization is trading at around $0.411156 USD. The market cap at press time is $17,316,529,618 USD.
The price chart of Ripple XRP/USD is hinting towards a possible downtrend. The first resistance level for XRP is $0.41 while the second resistance is $0.43 USD. The third resistance level will take the XRP price to a new level of $0.45 USD.
However, the support levels are $0.39, $0.37 and $0.34 USD. If the XRP/USD price reaches the $0.45 mark then it will further join the massive bull run and the price might cross the $0.50 mark.
This article should not be considered as investment advice. Please conduct your own research before investing in any cryptocurrency.