As a seasoned crypto investor with a few years under my belt, I’ve seen market trends come and go. I’ve learned to read charts, understand resistance levels, and remain patient during bearish periods. This new week has started off mostly bearish for the crypto market, but as I look at the current state of BTC/USD, Ethereum/USD, and XRP/USD, I see some opportunities.
The crypto market has predominantly seen downturns at the start of this new week, as indicated by CoinMarketCap. Yet, there are certain exceptions where the trend is not bearish.
BTC/USD
The rate of Bitcoin (BTC) has declined by 0.28% over the last 24 hours.
The price of Bitcoin on the daily chart is approaching the resistance point of $67,400 once more. Should buyers successfully maintain control and manage to close the bar near or above this level, further advancement towards the $70,000 region could ensue.
Bitcoin is trading at $67,060 at press time.
ETH/USD
The price of Ethereum (ETH) is unchanged since yesterday.
As a crypto investor, I’ve noticed that Ethereum (ETH) isn’t exhibiting as much bullishness from a technical standpoint compared to Bitcoin (BTC). If the daily candle fails to close near the $3,171 mark, it’s likely we’ll see continued sideways trading within the range of $3,000 to $3,100 throughout the week.
Ethereum is trading at $3,093 at press time.
XRP/USD
XRP is the biggest loser from today’s list, falling by 1%.
The recent technical shift in XRP‘s value hasn’t significantly altered its standing on the daily chart. Neither side has gained clear control, implying that major price swings are unlikely for now. It’s plausible that XRP will continue to trade within a limited range between $0.5050 and $0.5150 in the near term.
XRP is trading at $0.5125 at press time.
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2024-05-20 16:33