BTC, ETH, XRP Make Decent Gains Amidst Bearish Market

The last 24 hours have been slightly encouraging as BTC and other major cryptocurrencies sharply reversed their respective previous price plunge.

Bitcoin (BTC) had recently experienced a price dump of around 15% altogether. This made prices test the important $10k level. These collective price actions altogether instigated a major market swing. Many altcoins, including Ethereum (ETH) and Ripple (XRP), all moved correspondingly to a price increment.

However, over the last 24hours, the crypto market slowly accumulated some gains and major cryptocurrencies including BTC, are now making decent profits.

#1. Bitcoin (BTC 2% Gain):


BTC price has since yesterday improved by about 2% and now stands comfortably above the $10,800 mark. As this price momentum proves encouraging, BTC presently bends towards a very likely $11,000 price move.

At the time of writing this piece, BTC is changing hands at $10,880. Within the last 24 hours, BTC was seen vacillating between $10,800 and the $10,880 area to build weak support within the range.

The top cryptocurrency gained around 7% on the 7-day timeframe and also 20% in the 60-day timeframe.

Technical Points:

  • Prices build strong support at $10,850
  • Next level of key resistance at $10,950
  • Major trend is horizontal with equal ups and downs movements.

Also Read : Bitcoin Price Prediction: Will Bitcoin Reach $100,000 By 2020?

#2.Ethereum (ETH 5.07% Gain):


Ethereum began the week on a quite good note. Moving up more than 15% from the previous day, ETH gained more than $120, touching a high of $385 as on Wednesday. However, a slight bearish move set in and drove its price further down by Thursday.

However, the charts began to move in the opposite direction following the recent market reverse that was seen in BTC within the past 24 hours. As ETH slowly make gains, it moved up the charts by around 5% in the last 24 hours to record its current price of $280.0

Ethereum gained almost 10% in the 7-day timeframe and also 60% in the 60-day graph. 

Technical Points:

  • Prices found resistance at the $385 corner
  • Next level of key support lies at $380
  • RSI has returned from the 30.0 overbought condition. 

Also Read : Will Ethereum Overcome the Recession in 2020?

#3. Ripple (XRP 4% Gain):


Ripple, like major altcoins, also gained slightly within the previous days. 

Ripple (XRP) struggled on the charts in recent days as the general crypto market fell into great dips. As the market began to recover, ripple, however, remained silent and traded sideways instead, perambulating around the $0.24 region for several days.

Ripple gained around 4% within the last day, landing at $0.256 per unit of the coin at which its currently changing hands.

Technical Points:

  • Prices found major support at the $0.245 area
  • The next level of major resistance lies at $0.255
  • The major price trend is bullish.

Also Read : Ripple Price Prediction: Will Ripple Reach $5 In 2020?

Source: Read Full Article