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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U. Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The new week has stated neutral for the cryptocurrency market, according to CoinMarketCap.
The rate of Bitcoin (BTC) has increased by almost 1% over the last 24 hours.
Despite today’s slight rise, the price of BTC is trading sideways, gaining energy for a further move. As none of the sides has seized the initiative yet, ongoing consolidation in the area of $51,000-$52,000 is the more likely scenario for the current week.
Bitcoin is trading at $52,069 at press time.
Ethereum (ETH) is one of the biggest gainers today, rising by 3.76%.
On the daily time frame, the price of ETH remains bullish until the rate is above the $2,869 level.
However, if the bar closes far from its peak, there is a chance to see sideways trading so buyers can gather more strength for a further move.
Ethereum is trading at $2,894 at press time.
The price of XRP has followed BTC and ETH, going up by 0.44%.
From the technical point of view, XRP is looking rather more bearish than bullish. If the daily candle cannot fix above yesterday’s bar peak, there is a chance to see a correction to the $0.54 zone.
XRP is trading at $0.5567 at press time.