According to the current chart, it doesn’t look as rosy with the cryptocurrencies. Bitcoin holds its own best against Ethereum and Ripple.
Cryptocurrencies are waiting for Bitcoin
Bitcoin is of course the strongest and most liquid of the three cryptocurrencies on the market. Opposite Ethereum and Ripple keep themself in a sideways movement above their support levels. However, Bitcoin has again failed to emerge above the downward line and assert itself with further price gains. Bitcoin is currently trading at $10780.
Here, it´s important for the cryptocurrency to keep the 10000 dollar mark and not to slide down. Should a downward breach occur, further declines can be expected due to the dwindling confidence of investors. However, we assume that the support will last for the time being.
With the number 2 of the cryptocurrencies Ethereum, the chart looks far worse. Although ETH/USD bounced off the 800 dollar level yesterday, it has established itself below the 880 dollar resistance level. According to chart technique, Ethereum has thus resumed its downward trend. Should the 800 dollar mark fall, we´re most likely to see the 650 dollar mark again.
Most investors look at Bitcoin. For this reason, Ripple is much less volatile. However, it can also be said of Ripple that it didn´t make the jump over the resistance and that it was again on its way to the south.