Have Bitcoin (BTC) and Ethereum (ETH) accumulated enough power to rise?
The cryptocurrency market is in a neutral mood today as some coins keep rising, while others are in the red zone.
BTC / USD
Yesterday morning, the price of Bitcoin (BTC) consolidated in a narrow side range around the $ 63,000 mark. In the afternoon, the volatility of the pair began to grow. The sellers rolled back the price to the support of $61,500, and in the evening, bulls began to restore the pair to its previous level.
This morning, the price collapsed to the psychological level of $ 60,000, breaking stop losses and closing long positions. A minute later, consolidation in the sideways trend continued again.
Now the pair is holding below the four hour EMA55, and we believe this moving average may prevent the price from onslaught of sellers. If sales volumes are at an average level, then the bulls may be able to restore the BTC price above the $64,895 level.
Bitcoin is trading at $ 60,998 at the time of publication.
ETH/USD
The Ethereum (ETH) price left the high yesterday and rolled back to the nearest support around $4,460. In the evening, buyers were able to restore the pair, and by the end of the day, the bulls renewed the all-time high to the $ 4,670 level. The bullish momentum was rather weak and failed to test $4,700.
For now, the pair has returned to the $ 4,500 level and is consolidating in a narrow sideways trend.
Today, after a short-term consolidation, one can expect a continuation of the race to the target level of $47,00. A new high is possible in the area of $4,750.
Ethereum is trading at $ 4,484 at time of publication.
XRP/USD
XRP is the only coin growing from today’s list. The price has risen by 1.38%.
Yesterday, the XRP price managed to break through the resistance of $ 1,150 and test the target level of $ 1,250. The pair has finally come out of the October price range and today may try to continue its recovery to the $1.30 area.
XRP is trading at $ 1.1828 at time of publication.
