Can altcoins rise as fast as Bitcoin (BTC)?


The new week has begun with a relatively neutral mood on the cryptocurrency market as some coins are in the red zone, while others are in the green.

Chart

Top coins by CoinMarketCap

BTC/USD

Over the weekend, the price of Bitcoin (BTC) consolidated above the psychological mark of $60,000 and consolidated in a sideways range.

BTCUSD

BTC/USD chart by TradingView

At the end of the week, the bears tried to swing the price and knock the pair out of the sideways range, but tonight the price returned to the range and approached the monthly maximum zone in the morning.

If buyers can continue to rise, then during the day the pair can test the 100% Fibonacci level, and a strong bullish momentum might be able to renew the all-time high around the $66,000 mark.

Bitcoin is trading at $62,044 at press time.

ETH/USD

On Saturday, the price of Ethereum (ETH) approached the psychological level of $4,000, renewing the monthly high at $ 3,971.

ETHUSD

ETH/USD chart by TradingView

At the end of last week, bears pushed the Ethereum (ETH) price below the four-hour EMA55, but over the past night, the pair was able to fully recover to the $3,860 area. If large purchases resume, the price can break the $4,000 level and renew the monthly high around $4,100.

Ethereum is trading at $3,762 at press time.

XRP/USD

At the end of last week, the XRP price was in a sideways range with support in the four-hour EMA55 area.

XRP

XRP/USD chart by TradingView

Over the weekend, the pair failed to test the level of $1.20, and on Sunday evening, bears rolled the price back below the average price level, setting a weekly low at $1.022.

This morning, the pair is trying to recover to the POC line, but it is not yet clear whether the price will be able to gain a foothold in this area or continue to decline to the psychological level of $1.

XRP is trading at $1.0683 at press time.



Source link