Denys Serhiichuk

Can Bitcoin (BTC), Ethereum (ETH) or XRP return to bullish trend soon?

The market is facing a bounce back, according to CoinStats.

BTC/USD

The rate of Bitcoin (BTC) has risen by 0.51% since yesterday.

Today’s slight rise has not affected the general technical position of BTC on the daily chart. The price is far from the key levels, which means that neither buyers nor sellers are ready for a sharp move.

In this case, sideways trading in the zone of $63,000-$67,000 is the more likely scenario.

Bitcoin is trading at $64,700 at press time.

ETH/USD

Ethereum (ETH) is more of a gainer than BTC, going up by 3%.

From the technical point of view, the main altcoin is trading similarly to BTC. If the daily bar closes below yesterday’s peak, bears may again seize the initiative, which can lead to a drop to the vital zone of $3,000.

Ethereum is trading at $3,142 at press time.

XRP/USD

The price of XRP has grown by 1.88% since yesterday.

On the daily chart, the rate of XRP has bounced off the resistance level of $0.5140. If the bar closes far from that mark, the drop may continue to $0.48 shortly. Such a scenario is relevant until the end of the week.

XRP is trading at $0.4967 at press time.

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Denys Serhiichuk