Was the recent sharp drop the reason for setting new peaks?
The weekend started with continued growth in the cryptocurrency market, with major coins in the green zone.
BTC/USD
Bitcoin (BTC) has grown the least from the list as its rate has increased by 3.41% since yesterday.
Bitcoin (BTC) continues to trade above the $ 56,560 support. For now, the bullish scenario is more relevant than the bearish one as the buyers made a false break out of the purple line.
The trading volume is low, which means that sideways trading is the most likely scenario for the upcoming days. If the situation does not change, the correction may continue to $61,030.
Bitcoin is trading at $ 58,487 at the time of publication.
ETH/USD
Ethereum (ETH) is the biggest gainer today as the rate of the chief altcoin has risen by almost 5%.
Ethereum (ETH) consolidates in the most liquid zone around $ 4,300 after rebounding support to $ 4,000. If the situation does not change, growth could lead ETH to the recently formed resistance at $ 4,452. Such a scenario is relevant until the end of next week.
Ethereum is trading at $4,305 at press time.
XRP / USD
XRP is no exception, up 3.97%.
XRP is trading similarly to Ethereum (ETH), as it is also accumulating power for a further move after the false breakout of the support at $1.0148.
Despite the rapid rebound, there is little chance to expect a market reversal as the bulls need to gain more energy. If such a scenario comes true, the next level at which bears can take the initiative is the area around $ 1.15.
XRP is trading at $1.0895 at press time.
