As an experienced crypto investor who has seen numerous bull and bear markets over the past decade, I find myself both excited and cautious as we navigate this latest wave of bullish momentum. The overall market cap growth is impressive, but it’s essential to remember that every rise must be met with a fall.
A new week has started with ongoing bulls’ dominance, according to CoinMarketCap.
BTC/USD
Unlike most other coins, the rate of Bitcoin (BTC) has dropped by 0.33% over the last day.
On the daily chart, Bitcoin’s price has dropped following a misleading breakthrough of the established resistance at $69,363.
If the closing price of the bar dips beneath yesterday’s lowest point, it’s probable that the correction will extend towards the $66,500 to $67,000 range in the near future.
Bitcoin is trading at $67,855 at press time.
ETH/USD
The price of Ethereum (ETH) has increased by 1.67% since yesterday.
Looking at its technical aspects, Ethereum’s (ETH) trading pattern appears quite similar to Bitcoin’s (BTC). If the current downtrend persists and the price drops below its support level at around $2,659, there might be a potential test of the $2,500-$2,600 range in the near future.
Ethereum is trading at $2,682 at press time.
XRP/USD
XRP is the biggest gainer from the list today, going up by 2.24%.
Regardless of today’s increase, the value of XRP has once more struggled to surpass the resistance level of $0.5556. If the day’s closing price strays significantly from that figure, traders might observe a decline towards the range of $0.5350-$0.54.
XRP is trading at $0.5459 at press time.
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2024-10-21 18:04