BTC, ETH and XRP Price Analysis for March 4
The weekend has started with a bounce back on the cryptocurrency market.
BTC/USD
The rate of Bitcoin (BTC) has slightly risen by 0.17% over the last 24 hours.
On the daily chart, the price of Bitcoin (BTC) is again below the $23,000 mark, which means that bears have locally seized the initiative.
If buyers cannot restore the rate shortly, there are high chances to see a further decline to the support level at $21,473 by the end of the month.
Bitcoin is trading at $22,376 at press time.
ETH/USD
Ethereum (ETH) has followed the bounce back of Bitcoin (BTC), going up by 0.12%.
Even though Ethereum (ETH) is located in the middle of the channel, it is looking bearish as the rate is near the interim support at $1,558. If the candle closes near that mark, one can expect a decline below the $1,500 area next week.
Ethereum is trading at $1,569 at press time.
XRP/USD
XRP has gained the most value from the list today, rising by 2.15%.
Despite today’s rise, XRP has not accumulated enough power for further growth. Thus, the rate is still below the important $0.40 zone, which confirms the ongoing sellers’ pressure. In this case, the more likely scenario is sideways trading in the range of $0.37-$0.38.
XRP is trading at $0.3755 at press time.
