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Widely followed cryptocurrency traders are bearish on Bitcoin (BTC) and XRP as they expect Ethereum (ETH) to surge after major smart contract platforms hit bottom. I’m here.
A pseudonymous analyst known as Altcoin Sherpa has told his 183,600 Twitter followers that BTC price is likely to continue trading within the $18,200 to $19,500 range.
The flagship crypto asset hit a high of $20,377 this week and is currently trading at $19,462.
BTC: Are we still having fun?
Altcoin Sherpa says XRP price volatility indicates that XRP is unlikely to take off anytime soon. The 6th largest crypto asset by market capitalization is currently trading at $0.48.
XRP: Looking at this 1 again, it stopped out in a past trade and suffered a small loss. I think it bounces around .41.618 fib. [Fibonacci level] Still, it doesn’t look good now.
But Traders Expect ETH ProfitsAltcoin Sherpa says the top altcoin could surge from its current $1,332 to $1,500.
ETH: In my opinion this is forming a short term bottom. Expect more chops, wait [exponential moving averages] If you catch up with the price in 4 hours, you’ll see it go up to at least $1500 or more.
Meanwhile, Santimento To tell Bitcoin and Ethereum appear to be moving away from the stock market, and the drop in share prices doesn’t seem to have affected the top two cryptocurrencies by market capitalization. increase.
Today Bitcoin is stuck at around $19,400 and Ethereum at around $1,340. But the story is the fact that they are doing so without SP500 support, down -2.4%. And if the correlation between equities is easing, this is very encouraging.
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Featured image: Shutterstock/issaro prakalung
