Crypto Update: Coins Still Stable as Ripple Breaks Trendline - Only4Free - Cryptocurrency Connection

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Crypto Update: Coins Still Stable as Ripple Breaks Trendline

Crypto Update: Coins Still Stable as Ripple Breaks Trendline

While the major coins didn’t make too much progress in the last couple of days, with a few exceptions like Bitcoin Cash, Lisk, ETC, and Monero, the price action is encouraging considering the recent period and the global environment in financial markets. The segment shows clear signs of resilience amid the elevated levels of uncertainty in the investment community following the stock market crash on Monday.

XMR/USDT, 4-Hour Chart Analysis

There was no relief for equities in the Asian session; in fact, the local indices actually underperformed their US and European peers, while more than $5 trillion of market value has been erased in less than a week globally.

The most valuable digital currencies are all holding up well above their lows form Monday, as the whole segment is up by almost 40% on average, despite the overnight dips of the last two days. The ongoing consolidation could serve as a base for another leg higher in the rally, and that could cement the lows as a likely long-term cycle low.

BTC is trading just below its weekly highs right now, within a relatively narrow range that developed in the $7500-$8650 range. We expect a very active session in stocks and other traditional assets in the US, and it will be crucial to see how Bitcoin will perform in the volatile conditions.

In the case of a sell-off, the lower end of the range could be in focus, but it seems likely that the coin will hold up above that level and tackle the range between $9000 and $9200 in the coming week.

BTC/USD, 4-Hour Chart Analysis

Ripple Back in Action with $0.85 in Sight

As the bullish continues in the segment, it’s once again XRP that is leading the gains today, breaking-out from the steepest downtrend and heading towards the key $0.85 resistance as we speak. While the success of the break-out is not guaranteed, since the broader downtrend is intact and volatile dips are still expected as part of the bottoming process, the coin is showing positive signs, and aggressive traders could remain long here.

XRP/USD, 4-Hour Chart Analysis

The other majors are trading virtually unchanged, in choppy market conditions, but things can get heated as soon as US markets open.
Stay tuned for our detailed technical analysis later on today.


Tags: Bitcoin Cash, Lisk, ETC, Monero, financial markets, crypto news, long-term cycle, BTC, bitcoin, bitcoins, bitcoin news

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