This week has been a journey for every cryptocurrency that will be considered as a big one for this month. Within a week, the cryptocurrencies saw significant changes in their price trends which automatically lead to a change in their trading volumes.
While Bitcoin faced a bearish trend yesterday, which took the price down to test the support levels of $9,600, other cryptocurrencies witnessed the dominance and struggles of the bulls in the market as the trading price broke the key resistance levels for almost all of them.
Bitcoin, however, saw a bullish sign in the charts again as the bulls were able to defend the price at the $9,600 support level which was followed by an upward trend in the charts.
Currently, Bitcoin is trading at $10,157.67, and it is facing a strong resistance near the $10,300 level as the price failed to go beyond that. Support level can be seen forming near the $10,100 and $10,000 level.
With the resistance levels present $10,300 and a major resistance level forming neat the $10,450 and $10,500, we can expect the bulls will try to push towards the key resistance levels. In case the charts face further downward correction, we can expect the price to come down to the $10,000 support levels and any decline in the price will test the support levels of $9,900 and $9,800. Major resistance is forming near the $10,700 level.
Ethereum price decided to test the support levels of $204 and $202 as the price declined before a bullish trend took the price the monthly high of $221.92. The pair is currently trying to gain in the charts as it stays supported by $210 levels.
Currently, ETH is trading at $216.81 with strong resistance forming near $225 level as the price faces a slight downward correction presently. Support levels for ETH can be seen, forming near $213 and $210.
An upward trend can make the price rally towards the resistance level of $225 and aim for the major resistance level of $240. If a downward correction enters the charts, we can expect the price to test the support levels of $210, and further decline will make it test the support levels of $206 and $202.
Ever since the Bitcoin price has seen bearish trends, it will be safe to say that bulls and people have started moving towards other digital currencies as XRP sees a keen buying interest.
The trade volume is strong near the support levels of $0.2850, and it has been trading above that ever since the bullish run towards the $0.3200 resistance level was done.
Currently, XRP is trading at $0.2922 with a strong resistance forming near the $0.3100 level as the bulls try to defend the $0.2850 support levels. Immediate support can be seen near the $0.2850 and $0.2800 levels.
A bullish trend in the charts will take the price to the $0.3120 and $0.3150 levels and aim for the $0.3200 and beyond level. A downward correction in the chart will bring the price to the support levels of $0.2850, and further decline will make it test the support levels that are present at $0.2720 and $0.2700.
Litecoin has proved its value in the market as the price saw a bullish trend in the market and rallied towards the significant resistance levels of $80.
Currently, LTC is trading at $75.63 with the support levels forming at $73 and $70 while a strong resistance can be seen near the $80 levels. Any further bullish trend will take the price towards the $85 and $88 key resistance levels.
If the downward trend enters the charts, we can expect the price to test the support levels of $73 and any further decline will take the price to $70.
Bitcoin Cash faced a downward correction as the trading price almost reach the critical resistance level of $325 yesterday. The downward correction took the price to test the support level at $305 against the US Dollar.
Currently, the price is trading at $318.43 as the price corrected upwards after the drop. Strong resistance can be seen near the $320 level as the price tries to push through the resistance levels. Immediate support can be seen, forming near the $315 and $310 levels.
If the bulls enter the market again, then we can expect the price to aim towards the resistance level of $325, and it might rally towards the $340 major resistance level. In the case of a downward correction, we can expect the price to go down and test the support levels present at $310 and $305. If the trend continues, we can expect the price to test the $298 and $295 levels again.