Altcoins Revisit Dec. 2017 Levels As They Turn Red Amid Bitcoin’s Rally, Are Altcoins Dead? Altseason

altcoin vs token

Bitcoin still dominates the crypto market as ETH/BTC revisits the levels last experienced in the days before the great pump. Recently, the altcoins suffer against the Bitcoin which attempts a price rise as high as $14,000. Uncertainty creeps in as users consider whether to continue trading altcoins or shift attention to the surging king of cryptocurrencies.

Users are likely to make compulsive decisions in such a situation where emotions outweigh reasons. However, they need to determine if the move will be beneficial.

BTC Price Analysis – Bitcoin Latest Update – Bitcoin News Today – Altcoins Fall Shifting Attention to Bitcoin

Since the bullish run in early May, the relative losses to BTC have significantly reached 35%. With reference to the highs recorded in December 2017, the value of the loss is around 400%. Currently, there is a price gain after a long period of deep decline. Such a scenario suggests the possibility of a continuous bearish trend for an extended time.

Ethereum News Today – ETH Price Analysis – ETH/BTC Price Analysis

The value of the ETH/BTC pair determines the wellbeing of the crypto market. The pair has reached levels recorded the days before the uptrend in December 2017. At that time, the ETH/BTC was at 0.02337. Currently, the pair trades at 0.02378. Above this price are the first, second, and third resistance levels which are at $0.0269, 0.0276, and 0.0282 respectively. However, the first and second levels are the price congestion resistance.

Also, the price congestion support levels below the current price are at 0.02337, 0.0200, and 0.015. From the analysis of the ETH/BTC daily chart, the market situation may remain as it is for a few more days. However, there may be a possibility for a bullish cut. There is a sharp increase in the activities of the bulls to maintain a high price. However, their action is contrary to expectations considering the current price of ETH/BTC.

Ethereum News Today – ETH/USD Price Update – ETH/USD Price Analysis

Currently, the ETH/USD is trading at $308.5. Since the last week of June, the pair has been stuck in this price range. The three resistance levels above the current price are all price congestion resistance. They are at $318, $330, and $360. The first and second levels of support (price congestion support) below the current price are at $305 and $290 respectively. However, the third one (EMA50) is at $273. The ETH/USD daily chart suggests that the pair will retain its bullish potentials.

BTC Price Update- BTC/USD Price Analysis

The BTC/USD pair which hit $13,000 early in the morning in Europe is trading at $12,982. The first and second resistance levels which are at $14,000 and $17,000 respectively are price congestion resistance. However, the third resistance level at $19,890 is a historical high. The support levels below the current price of BTC/USD are at $12,000, $11,280, and $10,600. These levels are price congestion support.

Bitcoin (BTC) Price Today – BTC / USD

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Though the pair is likely to continue in the bullish trend, falls are likely to occur in the short term. Despite the bullish prices pull sales remains at high levels.

XRP Price Update- XRP/USD Price Analysis

The current price of XRP/USD is at $0.393. XRP which is regarded as a utility lags behind Bitcoin and Ethereum which are valued as a “Store of Value” (SOV). This valuation may have affected the cryptocurrency. The bearish trend of XRP may have a little advantage over the bulls. Besides, the coin may experience increased volatility.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.


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