Can Ethereum (ETH) and XRP keep up with the rise of Bitcoin (BTC)? Altcoins do not currently support Bitcoin (BTC) growth. The domination index exceeded the highest level in three months. The best cryptocurrencies have risen a bit, but they have not been able to join BTC.
BTC / USD
There was a strong upward trend in the range of 8,500 – 9 thousand 200 dollars, where Bitcoin (BTC) has been in place for more than a week. Yesterday, the price of the leading cryptocurrency has overcome the $ 9,500 and $ 9,800 levels and tested $ 10,000. Bitcoin (BTC) is the only digital coin among the top 3 crypto coins in the green zone over the past week.
In the daily timeframe, we should pay attention to the dynamic resistance zone (blue line on the chart). This area is the upper limit of the medium term downtrend, which has also reached the horizontal resistance levels of $ 10,867 and $ 11,368 since December 2017. Since Bitcoin (BTC) leaves the accumulation zone (8 thousand 600-9 thousand dollars), the growth in this corridor is likely to continue (10 thousand 867-11 thousand 368 dollars). Otherwise, if the coin does not use this growth path, it will likely fall and consolidate under $ 8 thousand 850. According to the CoinMarketCap data at the time of writing, Bitcoin was trading at $ 9,956.
ETH / USD
Although Ethereum seems weaker in correlation with Bitcoin, it is rising against the US Dollar. The increase in cryptocurrency since yesterday has been 1.11 percent.
While Bitcoin still has the power to rise, Ethereum is about to end its growth. On the 4-hour chart, altcoin reached a local peak with $ 225. However, Ethereum has little chance to hold on to it because there is almost no intake volume to push the rate higher. Moreover, there was a downward trend, a bearish signal. In this regard, the $ 175 critical support is a possible first stop in the coming decline. Ethereum was trading at $ 214 at the time of writing.
XRP / USD
XRP remains the slowest growing currency on our list. While the increase in the last 24 hours was only 0.34 percent, last week’s loss was 1.28 percent.
After reaching $ 0.2360, XRP faces a slight correction. The current growth is accompanied by the increase in trade volume, which is a good sign for the next increase. In addition, the cryptocurrency is stuck in a Wedge pattern, which is a bullish sign on the growing market. In summary, a break from $ 0.24 to the next vital area can be expected. XRP was trading at $ 0.221 at the time of writing.