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Bitcoin‘s price hovers around $36,850 at the time of writing, failing to breach the latest resistance. As the monthly close approaches, investors anticipated new highs, yet volume remains weak. What awaits investors of Ethereum and XRP Coin in the coming hours? We delve into current charts and price predictions.
Will Ethereum Rise?
Bitcoin has been experiencing such pullbacks for weeks, subsequently reaching new highs. The last $38,000 test before the drop might have been the peak, but similar past sentiments misled investors. The leading cryptocurrency has continued its climb steadily. It remains uncertain whether the past will repeat itself, but the slow and limited losses may offer hope.
Ethereum (ETH), on the other hand, has once again lost the $2,000 threshold. The price awaited BlackRock and Fidelity ETF applications to surpass this area, but even with them, the gains were not sustained. On November 24th, it approached the overall resistance of $2,137 but bulls could not overcome this barrier, which may have led to profit-taking as indicated by the long wick on the day’s candlestick.
Bears are trying to pull the price below the 20-day EMA ($1,998). If they succeed, ETH’s price could drop to $1,904. A break below this support could signify the completion of a double top formation and a fall to $1,834. Bears are currently below the 20-day EMA, but what happens in the upcoming hours remains uncertain.
If ETH’s price rebounds from the 20-day EMA, it would show strong buyer support, and likely targets would be the $2,137 and $2,200 levels.
XRP Coin Price Analysis
The lawsuit’s most productive days have also impacted XRP Coin. If the July victory had occurred in the last few weeks, XRP Coin’s price could have reached new highs above $1. However, timing is not always perfect. Many developments transpired, and the price last jumped from $0.58 on November 22nd. Yet, sellers cut off the bulls at $0.61, indicating that bears are trying to turn the 20-day EMA into resistance.
Closures below $0.56 could lead to a sell-off down to $0.46. Conversely, a resistance wall at $0.65 could be targeted, but <a href="https://en.coin-turk.com/blackrocks-bitcoin-etf-application-boosts-institutional-bitcoin-assets-signifying-positive-market-outlook/”>BTC currently suggests less resistance downward for XRP Coin.
- Bitcoin struggles as Ethereum and XRP waver.
- Critical support levels are tested across the market.
- Investors anticipate the impact of external factors.
