Can altcoins keep resisting the bearish influence of Bitcoin (BTC)?

Tuesday began with the bounceback of the cryptocurrency market; nevertheless, by the finish of the day, bears have seized the initiative.

Top cash by CoinMarketCap


Bitcoin (BTC) retains falling regardless of short-term development impulses. The decline over the final day is by 22%.


BTC/USD chart by TradingView

After a false breakout of the $42,000 zone, bulls are usually not exhibiting any efforts to return the value to the bullish channel. In addition, the shopping for buying and selling quantity is low, confirming the energy of bears.

As the MA 200 has not been examined on all exchanges, there’s a probability to see another decline to the zone round $39,700 shortly.

Bitcoin is buying and selling at $43,564 at press time.


Ethereum (ETH) is exhibiting higher value dynamics than Bitcoin (BTC) as the fee of the chief altcoin may even rise by 2% over yesterday.


ETH/USD chart by TradingView

Ethereum (ETH) is neither bullish nor bearish as the coin retains buying and selling in a sideways vary. The second hottest crypto is buying and selling above the MA 200 on the 4H chart, which signifies that bears haven’t seized the initiative but. Thus, the promoting quantity has considerably declined. That is why the extra probably value motion for Ethereum (ETH) is consolidation in the space of $3,200-$3,400.

Ethereum is buying and selling at $3,356 at press time.


XRP is the second-fastest-growing coin at this time from our checklist, as its fee has gone up by 5.75% over the final 24 hours.


XRP/USD chart by TradingView

XRP is trying far more bullish than Bitcoin (BTC) or Ethereum (ETH), as the coin retains slowly rising whereas the predominant crypto continues the decline. However, the buying and selling quantity is low, which signifies that patrons are usually not prepared but for a breakout. Respectively, the consolidation accompanied by a low volatility of about $1.6 could be the extra probably situation for the upcoming days.

XRP is buying and selling at $1.5486 at press time.


Litecoin (LTC) is the prime gainer at this time with an increase of 9%.


LTC/USD chart by TradingView

Despite the correction by the finish of the day, the situation stays bullish whereas the “digital silver” stays buying and selling above $262. In this regard, merchants could anticipate a take a look at of the mirror stage at $336 shortly.

Litecoin is buying and selling at $298.20 at press time.

Recommended For You

About the Author: Daniel