The cryptocurrency market is slightly recovering after a prolonged drop, and most of the coins are in the green zone.
Despite today’s rise, the rate of Bitcoin (BTC) has gone down by 28.80% over the last seven days.
On the weekly chart, Bitcoin (BTC) is about to make a false breakout of the $19,490 mark. At the moment, one should pay close attention to the daily closure. If buyers can keep the initiative and the price holds near the $19,500 mark, there are chances to see a further correction to the $20,000 zone next week.
Bitcoin is trading at $19,468 at press time.
Ethereum (ETH) has risen more than Bitcoin (BTC) since yesterday, as the price change has accounted for 4.44%.
Ethereum (ETH) has also bounced off the $900 mark against the increased volume. Thus, the rate has come back above the crucial $1,000 mark. If the situation does not change by the end of the day, one can expect the continued growth to the $1,150-$1,200 area within the next few days.
Ethereum is trading at $1,033 at press time.
XRP is falling the least in terms of the weekly analysis as the drop has constituted 9.80%.
Despite this, the situation is less clear compared to Ethereum (ETH) and Bitcoin (BTC). Currenly, bulls need to hold the initiative they have gained, keeping the rate above the $0.30 level. If they manage to do that, a rise is possible to $0.35 shortly.