Despite the fact that the last 24 hours have been active in the crypto market, still the TOP 3 shows a behavior that tells us that they could go higher.
At the time of this writing Bitcoin is trading at $ 22,940, accumulating a small gain of 0.8% in the last 24 hours. Ethereum, for its part, is trading at $ 649.96, with a loss of 1.7% in the last 24 hours, and as for the price of Ripple, the gain it presents is 3.58% in the same period of time, trading at 0.5870.
Analysis of Bitcoin, leader of the TOP 3 of the crypto market
Bitcoin’s fear and greed index is about to explode, but the bulls still don’t want to give up control.
A major correction is increasingly likely, but it is difficult to try to forecast when there is so much buying pressure from institutions, and a fairly limited supply.
Generally, when this index marks extreme greed, the upward momentum is quite developed, and it may be close to exhausting, however, it has been in this area for weeks and still nothing that the bulls give up control.
Without a doubt, any drastic fluctuation of the largest will influence the other TOP 3 participants and the crypto market in general, so it is worth keeping an eye on what it does.
From the daily chart of BTC vs USDT we observe a clear uptrend in the short term. Yesterday’s candle showed depletion through a bit of wick. A pullback is quite likely to begin, but as long as the support at $ 18,036 remains intact, there will be no need to worry about a deep correction for now.
Technical analysis of Ethereum, TOP 2 of the market
On the ETH daily chart, history repeats itself, bulls have full control of trends.
In the short term we observe a clear upward direction, formed by increasingly higher lows. For this trend to be violated, the support at $ 544.43 must be crossed.
Ethereum is currently developing momentum, and like Bitcoin, yesterday showed signs of exhaustion, so a small correction is likely in the next few hours.
However, the consolidation period you have done in the last few hours may be enough to rest before moving up. The next relevant barrier is at $ 794.30.
Technical analysis of Ripple, TOP 3 of the market
XRP, occupying the TOP 3 in the crypto market, also benefited from Bitcoin’s recent bullish jump.
After picking up demand at $ 0.44696, Ripple managed to escape a falling wedge at the top, giving a bullish continuation signal.
We are now seeing momentum developing, which could either make a small correction, or continue to rise from where it is currently. The next relevant resistance is at $ 0.7644.
All of these bullish projections would change dramatically if Bitcoin loses support at $ 18,000 for the next few hours / days. For now, the bulls continue to command. It is a matter of continuing to monitor behavior, from here we will be informing you.
All our publications are informative in nature, so in no case should they be followed as investment advice.