Cryptocurrencies: Bitcoin failed in front of important resistance, hope for Ethereum and Ripple

There is currently a consolidation going on in the crypto markets. Bitcoin failed at $12,080 due to the important resistance, and only a clear breakthrough above this level would signal a rally towards $14,000. However, concerns about China and South Korea are still weighing on the cryptocurrencies. It´s therefore questionable whether Bitcoin will gain momentum again in the near future.

Ethereum

Ethereum looks similar. Yesterday we mentioned the strong range of resistance between $1000 and $1075. ETH/USD is currently consolidating in this area. However, if the hurdle is overcome, Ethereum bulls can hope for a rally up to $1250.

Ripple

However, Ripple managed to break through the resistance at $1.40 and has now started a rally towards $2. This level is unlikely to exceed the cryptocurrency during the first test. Overall, however, things look much better for Ripple. Strong support may now be expected at $1.40.

Altcoins

The smaller cryptocurrencies also recovered. Cardano, Stellar and NEO all had a solid performance in the last 48 hours. However, TRON should still be avoided. The white paper of the cryptocurrency is partly a plagiarism, and this is of course a very bad sign. Meanwhile, NEO has proven to be relatively stable even during the major crash, and has a good chance of reaching the all-time high again in the near future.

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