Can the bulls return the prices of major currencies to previous highs?
Bulls continue to dominate the situation in the cryptocurrency market as the majority of coins are in the green.
Bitcoin / US Dollar
After yesterday’s rally, Bitcoin (BTC) price added 0.61% to its price share.
Analyzing the daily chart, Bitcoin (BTC) is near the resistance at $48,465. The rally is also accompanied by increased trading volume, which means that the bulls are ready to continue growing.
If the breakout occurs and BTC is fixed above the resistance, the rally could continue in the region around $50,000.
Bitcoin is trading at $47,621 at press time.
ETH / USD
Ethereum (ETH) is the biggest gainer on the list today as the price of the altcoin is up 1.47% in the last 24 hours.
For now, Ethereum (ETH) may have enough power to start a mid-term rally. The growth is supported by volume buying, which indicates the ability of the bulls to push up the price.
In this case, the most likely scenario is a test of the local peak around $3,700, where the bears may take the lead.
Ethereum is trading at $3,286 at the time of writing.
XRP / US Dollar
XRP gained the least gains from the list as the coin’s price was virtually unchanged since yesterday.
Despite the slight rally, XRP has consolidated above the vital level at $1,014, confirming the bulls’ efforts to continue the rally. If the buyers can hold the initiative, the next level at which a possible correction might occur is the local top at $1.24.
XRP is trading at $1.0355 at the time of writing.
