As a researcher with a background in financial markets and cryptocurrencies, I find the recent surge in the price of Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) quite intriguing. Based on the data from CoinStats and the charts provided, it appears that these digital assets are showing signs of recovery after a period of bearish sentiment.
Bulls are coming back to the game, according to CoinStats.
BTC/USD
The price of Bitcoin (BTC) has gone up by 2.07% since yesterday.
As a researcher studying the cryptocurrency market, I would advise keeping a close eye on the daily closing price of Bitcoin. Even if its value is currently increasing, be aware that a closure below the peak could signal sellers regaining control, potentially leading to a decline back towards the $62,000 region.
Bitcoin is trading at $62,739 at press time.
ETH/USD
Ethereum (ETH) has followed the rise of BTC, growing by 1.93%.
From a technical perspective, Ethereum’s (ETH) price action resembles Bitcoin’s (BTC). If the daily candle closes near current levels, it’s plausible to anticipate sideways movement within the $3,450 to $3,500 range.
Ethereum is trading at $3,466 at press time.
XRP/USD
XRP is not an exception to the rule, going up by 1.69%.
On the daily time frame, one should focus on the nearest vital zone of $0.4850.
If the candle closes near it, traders may witness an upward move to the $0.49 area soon.
XRP is trading at $0.4797 at press time.
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2024-07-01 18:38