Have Bitcoin (BTC), Ethereum (ETH) and XRP already found local resistance levels?
The market is trading sideways today as some coins are in the red zone, while others continue to rise.
The Bitcoin (BTC) rate has increased by 0.38% in the past 24 hours.
Today’s slight upward movement did not affect Bitcoin’s (BTC) overall technical position. The rate continues to trade in the channel, building up power for another move. Traders can only consider a continued rise if the price settles above the $29,000 mark.
Bitcoin is trading at $28,461 at press time.
Ethereum (ETH) failed to follow the rise of Bitcoin (BTC), falling 0.21%.
From a technical standpoint, Ethereum (ETH) trades the same as Bitcoin (BTC) because neither the bulls nor the bears have taken the lead yet. In this case, an ongoing consolidation in the $1,750-$1,800 area is the most likely scenario for the next few days.
Ethereum is trading at $1,794 at press time.
The XRP rate is almost unchanged since yesterday.
XRP price made a false break of the resistance at $0.5582. Until the rate is below this mark, there is a chance to see a local correction. If that happens, the decline may continue to the important $0.50 area.
XRP is trading at $0.5394 at press time.