The crypto speculators have a new favorite, and this is Ethereum. ETH reached a new all-time high overnight, while almost all other major cryptographic currencies are under pressure.
Ethereum has already proved to be extremely stable in the last few weeks compared to other large cryptos. The corrections were less steep and Ethereum was able to recover relatively quickly. The outlook remains positive in the short term, and by the end of the month, ETH/USD could slowly approach the $2000 level.
Ripple’s under pressure. Even after the chaos was resolved with CoinMarketCap pricing, the cryptocurrency was unable to recover. The break below the important $2.00 mark indicates that Ripple is about to test $1.60 in the near future. The next bigger support will be $1.26 after that.
Meanwhile, Bitcoin continues to consolidate. Even the weakness of the old coins could hardly support BTC, as a lot of money is currently flowing into Ethereum. The charts also point to another correction: a clear break below $14,000 would indicate that BTC/USD will soon test the $12k mark.
One of the biggest losers in the past few days was TRON. A crypto investor discovered on Sunday that TRON’s whitepaper is partly a plagiarism. The price plunged quickly from $0.18 to $0.11, and it is questionable whether the currency will recover soon. In the short term, TRON should definitely be avoided.