The correction has continued on the cryptocurrency market as the majority of coins are in the red zone. Litecoin (LTC) is the only exception to the rule, rising by 4%.
The crucial information on Bitcoin (BTC), Litecoin (LTC) and XRP:
Yesterday morning, buyers managed to find support around the $54,200 mark, and the BTC price continued to recover to the resistance of $58,000.
Late at night, the bulls returned to the zone of the absolute maximum, set on February 21, 2021, but the decrease in volumes did not allow them to renew the record value of February.
As of this morning, the pair rolled back to the area of the $57,280 mark. If the bulls can strengthen the onslaught, they will break through the resistance of $58,000 and continue their race toward the target level of $60,000. If the volume cannot be increased today, then a rollback may continue to the two-hour EMA55.
Bitcoin is trading at $55,680 at press time.
Yesterday morning, the bears managed to pierce the support of $0.45, and the pair tested the middle line of the blue channel. However, the XRP price was able to get out of this corridor rather quickly and consolidate above the upper border of the range ($0.45).
Buyers made an attempt to restore the pair to the area of average prices tonight, but it has not yet been possible to gain a foothold above the four-hour EMA55. If a positive mood prevails on the crypto market, then XRP will continue to recover to the psychological $0.50 mark.
XRP is trading at $0.4334 at press time.
Litecoin (LTC) is the only gainer today. The rate of “digital silver” has risen by 4% since yesterday.
On the daily chart, Litecoin (LTC) is trading within the ascending channel. After a false breakout of the $208 resistance, there is no rollback, which means that bulls are controlling the situation. If the breakout happens, there are chances of seeing a sharp move to the next level of $227.
Litecoin is trading at $203 at press time.