Bitcoin continues to exert influence over the market; nevertheless, certain currencies have returned to the red zone of the trading range.
BTC/USD
Buyers were continuously trying to break through the major barrier of $58,000 yesterday, but they were unable to do so by evening and fail to reach the zone of the previously-predicted October high of $58,550, which was predicted this week.
After a brief pause, buyers swooped in and smashed through this barrier, generating bullish momentum in the process. The price of Bitcoin continued to rise despite the fact that trading volumes were quite high, and it burst through an impenetrable line.
The limit is set at $60,300 in the morning, which is a psychologically significant amount.
One theory is that bears attempted to push the price back down to the $58,000 psychological level after retesting the psychological level.
At the time of publication, bitcoin was trading at $59,860.
ETH/USD
Ethereum (ETH) prices surged over the October and September highs yesterday afternoon as buyers were able to scale up their buying activity.
Earlier this evening, the pair reached a new monthly high around the $3,825 mark, and buyers attempted the $3,840 level this morning before trading volumes declined and the pair’s rise halted.
It is reasonable to infer that the Ether price is consolidating in a sideways range in this area. At the same time, the sideways trend may not persist for long, and if the bulls manage to keep the momentum going, a breakthrough of the $3,900 mark is a possibility.
It is possible that the pair may return to the $ 3,600 region if no bullish impulse is generated.
At the time of publication, the price of Ethereum was $3,796.
XRP/USD
Yesterday, following a retest of the $1.14 barrier, the price of XRP was unable to maintain its upward momentum and instead consolidated sideways.
This evening, bears attempted to push the pair back to the average price level, but they were unable to break through the four-hour exponential moving average (EMA55).
This morning, the XRP price rebounded to the level of $1.140, and it is expected to continue rising for the rest of the day.
At the time of publication, XRP was trading at $1.12891.
