The cryptocurrency market began the week on a positive note, with Bitcoin rising by 1.55%, Ethereum increasing by 1.81%, and XRP experiencing near 1% growth. Sustained buyer momentum will be crucial to avoid potential corrections for Ethereum and XRP.

This week commenced favorably for numerous cryptocurrencies, as reported by CoinMarketCap. Bitcoin (BTC) has experienced an increase of 1.55% within the last 24 hours, with its current trading rate at $62,952. The daily chart indicates a rising trend following a positive closure yesterday; however, if today’s candle closes significantly lower than its peak, it may indicate insufficient buyer momentum, thus hindering further upward movement. Ethereum (ETH) has also mirrored Bitcoin’s growth, recording an increase of 1.81%. Currently trading at $2,470, Ethereum has witnessed a false breakout against the resistance level of $2,499. Should buyers fail to maintain their initiative by the close of the day, a correction towards the $2,400-$2,450 range could be anticipated. XRP has increased by nearly 1%, trading at $0.5369. The price movement appears similar to Ethereum, having rebounded from the resistance mark of $0.5445. Unless XRP surpasses this level, there is a possibility of a decline towards the $0.53 area by the week’s conclusion.

The cryptocurrency market has shown a positive shift with several digital assets reflecting upward trends. Bitcoin (BTC), Ethereum (ETH), and XRP have all demonstrated price increases, albeit with varying degrees of momentum. This analysis seeks to dissect the recent performance and expected future movements of these currencies based on technical indicators and resistance levels.

In summary, the cryptocurrency market has commenced the week with a positive outlook as Bitcoin, Ethereum, and XRP recorded increases in their respective trading values. Nonetheless, potential corrections could manifest if buyer momentum does not sustain, particularly for Ethereum and XRP. Investors are advised to monitor these currencies closely as the week progresses.

Original Source: u.today

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