As a seasoned analyst with years of experience navigating the crypto market, I see this week starting off with a familiar dance between bulls and bears. The slight increase in Bitcoin’s price, while not groundbreaking, is a promising sign for those who believe in its potential. If the breakout at $64,988 holds, we might just be looking at a quick dash towards $68,000.
The new week has started with the bears’ pressure on, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has increased by 1.04% over the last day.
Keep an eye on the significant level around $64,988 on the hourly chart. Should a breakthrough occur and the rate hold steadily above this point, there’s potential for further progress towards approximately $68,000 in the near future.
Bitcoin is trading at $63,416 at press time.
ETH/USD
Ethereum (ETH) is one of the biggest gainers today, rising by 3.57%.
On the daily chart, bulls appear to be taking control. Maintaining the current price level could lead to a potential challenge of the resistance at approximately $2,799 before the week ends.
Ethereum is trading at $2,667 at press time.
XRP/USD
Unlike other coins, the price of XRP has dropped by 0.09%.
Currently, the minor drop in XRP‘s value hasn’t altered its overall chart pattern. The reduced volatility suggests that neither bulls nor bears are prepared for a significant price shift at this time. Given these circumstances, it appears that sideways trading within the range of $0.58 to $0.61 is the most probable outcome.
XRP is trading at $0.5890 at press time.
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2024-09-23 20:15