Could the current rebound lead to market growth in the medium term?
The last day of the week is more bearish than bullish for the cryptocurrency market as all the top 10 coins are in the red.
Bitcoin / US Dollar
Bitcoin (BTC) has lost the lowest on the list as the major currency is down 0.86% over the past day.
Despite the decline, Bitcoin (BTC) is looking strong as it maintains trading above the $39,573 support level on the daily chart. The trading volume is low, which means that the bulls need to accumulate more energy to grow.
If that happens, there is a chance of seeing a return to the more liquid area around $46,500. Also, this level acts as resistance.
Bitcoin is trading at $43,030 at press time.
ETH / USD
The altcoin is down 2.10% since yesterday.
Ethereum (ETH) is trading similar to Bitcoin (BTC) as it is still trading in bullish territory. If the situation does not change and ETH buyers keep the area around $3000, there is a good chance to expect a test of the $3200 resistance where most of the liquidity is concentrated.
ETH is trading at $2,965 at the time of writing.
XRP / US Dollar
XRP is the biggest loser from today’s list with a drop of about 3%.
XRP is in a wide range despite today’s fall, which means that neither the bulls nor the bears have grabbed the lead yet. Also, the sell trade volume is slightly reduced, which means that sellers are losing steam.
In this case, if the buyers manage to break the resistance at $1.014 and consolidate above it, the rally may continue in the most liquid area around $1.13.
XRP is trading at $0.9413 at the time of writing.
