As a seasoned analyst with over two decades of experience in the volatile world of cryptocurrencies, I’ve seen more market swings than a playground sees children. Today, I find myself analyzing a market landscape that resembles a roller coaster ride more than anything else.
Bears are keeping the pressure on at the beginning of the week, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has risen by 0.37% over the last 24 hours.
Regardless of its current expansion, the primary cryptocurrency appears to be heading downward on the daily graph. It attempted an unsuccessful breakout above the resistance level at $104,630. If the trend persists, a retest of the significant $100,000 region might occur shortly.
Bitcoin is trading at $103,333 at press time.
ETH/USD
The price of Ethereum (ETH) has gone up by 0.24% since yesterday.
On a daily basis, the primary cryptocurrency has rebounded from the significant level of $4,000 yet again. If the closing price strays significantly from this point, there could be a correction that takes us towards testing the $3,800 range by the end of the week.
Ethereum is trading at $3,896 at press time.
XRP/USD
Unlike other coins, the rate of XRP has declined by 2.11%.
Looking at the technical aspects, it appears that the value of XRP might revert to the support point of approximately $2.1743. Should buyers fail to take control promptly, there’s a possibility for a test of the $2.20 region by traders.
XRP is trading at $2.360 at press time.
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2024-12-16 18:14