Bitcoin Breaks Above $4k, XRP, TRON (TRX), Ethereum (ETH), and Litecoin (LTC) Still Bearish

Bitcoin’s (BTC) long-awaited breach above the formerly elusive $4,000 price position was actually expected to give a major boost to the remaining digital currency market. However, it resulted in only a few, sporadic bullish runs in the spectrum. Cryptos like XRP and TRON (TRX) endured setbacks. They remained under the weight of the bearish season.

Ethereum (ETH) Price Today – ETH / USD

Name Price24H (%)
Ethereum (ETH)
$313.33
0.28%

Bitcoin’s change in price didn’t seem to stop their prolonged downturn. The XRP price heavily declined and turned bearish against the USD and Bitcoin (BTC). The XRP/USD pay may consolidate via the short term. We are likely to see upsides when prices remain capped around $0.3100 and $0.3120.

As for Ethereum (ETH), prices declined sharply. They went below key support regions against the USD and Bitcoin (BTC). ETH/USD settled beneath $136 as well as the 100 hourly SMA. This serves as a short-term bearish sign. Litecoin (LTC), the fourth largest coin by market capitalization as listed on CoinMarketCap, was trading between $59- $62 after a brief surge in prices.

XRP Flirts With Key Resistance Positions

The price of the XRP digital asset failed once more to break above the $0.3200 resistance position. Instead, it declined sharply from there against the USD. The XRP  price also broke the key support regions at $0.3125 and $0.3100 to transfer into a bearish zone. We can see a major bearish pattern formed with resistance positions at $0.3110 via the hourly chart of the pair. The XRP/USD pair is currently correcting above. Although it is facing a strong hurdle near the $0.3100 price position.

Ethereum (ETH) Price in Bearish Position at Press Time

The Ethereum (ETH) price failed to break above the $139 resistance level. Instead, it sharply declined against the USD. The price of the pair also broke $134, which is a support level. Before entering a bearish zone.

There’s a new connecting bearish pattern forming with resistance at $139 via the hourly chart of the pair. The ETH/USD pair will probably struggle close $135 and $136 positions should it correct higher via the near term.

 

TRON (TRX) and Litecoin (LTC) Price Analysis

The price of TRON was stable initially. However, it’s decline was limited below $0.0230. The price is still trading above $0.0220 which is a support position. This is a positive sign. The price of TRON (TRX) must settle above the $0.0230 and $0.0235 positions to move into a positive area. Via the one-hour chart for Tron (TRX), the digital asset showed a slight uptrend. This caused its price to move upwards from $0.0223 to $0.0229. $0.0223 which was a support position held strong. While the resistance position was at $0.0239.

At press time, the digital asset held a market cap of $3.60 billion. It also registered a 24-hour Trade volume of $1.74 billion.

Litecoin (LTC) exhibited a 2.3% decline against the USD in the last 24 hours. It recorded a growth rate of 3.98% through the last seven days. Coineal reportedly contributed the highest trade volume for LTC after accounting for 7.98%. It is followed by Coinall and DigiFinex. Both recorded 4.22% and 3,66% each of trade volume for LTC.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.