Will altcoins be able to get back on Bullish track faster than BTC?

The world’s 2nd largest cryptocurrency Ethereum is not following the BTC as it went down by 0.50% since yesterday.

Written by October 11, 2021 12:35
Bitcoin

New Delhi: It looks like bears seized the opportunity on the weekend as the major crypto coins gave the red indexes in the market. As we know that crypto market is full of exceptions as Ripple’s XRP jumped 11% yesterday.

Bitcoin

World’s biggest cryptocurrency Bitcoin gained 0.40% in the last 24 hours. As the daily chart depicts BTC wasn’t able to break the price resistance of $55,800 and stay there. This means that bulls don’t have much power to take the control of the market.

As per experts, If this continues then BTC can be seen sliding lower to the trading range of $53,000-$55,000 in the upcoming week. The weakness of the buyers can be seen by the trading volume stats.

As per the analysts, the average age of dollars has stopped rising for BTC and ETH which means that investors now can expect some movement in their wallets soon.

BTC is trading at the price value of $56,682 at the time of writing this article.

Ethereum

The world’s 2nd largest cryptocurrency Ethereum is not following the BTC as it went down by 0.50% since yesterday.

As per analysts, ETH is hovering around the sideways channel between the price support level of $3,491 and encountered the resistance at $3,677. After the simple correction, neither bears nor bulls looked to seize the moment. If investors can get past the $3,600 then there is a high chance to see $3,700 by the next week.

ETH is trading at the price value of $3,516 at the time of writing this article.

Cryptocurrency

Ripple’s XRP

XRP becomes the highest gainer from the altcoins when it saw a rise of 11% the last day. XRP tried to get par the resistance level at $1.24. The gain cannot be accompanied by a high trading volume which eventually means that bulls weren’t able to generate enough energy.

As per experts, XRP can expect a retest at the price level of $1.10 to generate enough power to continue the growth, and this can be seen by the end of the upcoming week.

XRP is trading at the price value of $1.16 at the time of writing this article.

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