Crypto Analysis: BTC, ETH, XRP

Since Friday, the market has been declining, while volatility has noticeably increased. The capitalization index lost about 6%, dropping to the current moment to the value of $281 billion.

Crypto Analysis: BTC, ETH, XRP
Crypto Analyisis

Since Friday, the market has been declining, while volatility has noticeably increased. The capitalization index lost about 6%, dropping to the current moment to the value of $281 billion.

Bitcoin (BTC)

Over the weekend BTC price fell by about 4.5% and is currently near support at around $9,700 per coin. In the current situation, the conditions for purchase are still preserved - at a higher time interval, signs of a possible end of the uptrend and subsequent reversal are already visible. Volatility is maintained at high values, so the size of the position should be small and at the same time, individual characteristics of risk sensitivity should be taken into account. 

Ethereum (ETH)

ETH is also adjusted. Price went below the level of the support ($260), so the likelihood of a deeper correction in the coming days has increased. Keeping the trend, it is possible to move to the region of $230, and therefore, in this phase of the market, from a practical point of view, it makes sense to maintain a neutral position, observing the dynamics of quotations from the side. Volatility is increasing, which is also a signal to decrease activity and the manifestation of increased caution when making trading decisions.

Ripple (XRP)

XRP price continued to decline and again returned to the level of $0.28. Now the price is in the area of ​​the trend line, however, given the weakness of the coin, while maintaining the market negatively, it will not be difficult for the “bears” to lower price even lower. From a technical point of view, there is an opportunity to buy, but the increasing volatility in the current situation allows you to open a position on a very small amount.

DISCLAIMER: All content on this site is the information of a general nature and does not address the circumstances of any individual or entity. Nothing in the site constitutes professional and/or financial advice.


Charts via Investing.com powered by TradingView