- According to the Bitcoin Volatility Index, the price of Bitcoin remains low in terms of trading interest rates.
- Ethereum continues to show strength in the market, but how long will it last?
- Ripple price shows a contrarian bullish signal.
The crypto market shows a changing tide. Ethereum and Ripple could dominate the market in the coming weeks.
Bitcoin price shows turbulence
Bitcoin price has stopped all bull production. Peer-to-peer digital currencies have experienced erratic behavior since he crossed the $21,000 barrier towards the end of July. Technicals suggest a wedge pattern is likely underway, so traders may keep their accounts on the sidelines for the next few days.
Bitcoin price volatility may indicate apathy among short-term bulls and bears. An on-chain analytical metric called the Bitcoin Volatility Index (BVIN) disrupts the unpredictability that continues to plague. The BVIN shows lower net and cumulative volume volatility, as indicated by a steady decline in the 50-day Exponential Moving Average (EMA). A sideline approach may therefore be justified for a few weeks until substantive cues emerge.
BTC/USDT/2-hour chart
In the following video, our analysts dive deep into Bitcoin price trends and break down the main levels of interest in the market. -FXStreet Team
Ethereum Price Outperforms
Ethereum price continues to show strength in the market. As for the merge solution the community should take despite the negative sentiment swirling within the ecosystem. Maintaining above $1,500 will remain bullish in the short term.
The first detection of a weakening trend is retention failure support Around $1,350, there is still 15% room left from the current Ethereum price of $1,594. Updates will be issued throughout the week as the digital asset shows potential to outperform its Bitcoin counterpart.
ETH/USDT 3-hour chart
In the following video, our analysts take a deep dive into Ethereum price action and analyze key levels of interest in the market. -FXStreet Team
Xrp price shows strength
Ripple’s XRP price auction is at $0.358 as the bulls remain optimistic. XRP Price is currently above the key trendline and can be seen as a quiet storm brewing as the bulls seem to be eyeing the $0.48 and he $0.50 macro targets . A break above these levels could trigger a bullish rally with him targeting $1.20 in the future and a 180% rally from the current Ripple price.
Deactivating the uptrend depends on the bulls holding the $0.325 levels. If the bear market crosses this critical line, it could plunge towards an all-time low in 2022. A bearish target is $0.20-$0.24, up to 45% downside from the current Ripple price.
XRP/USDT 3-hour chart
In the following video, our analysts dig deep into Ripple’s price action and analyze key levels of interest in the market. -FXStreet Team
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