Over the last 24 hours, Bitcoin and altcoins have gained relative stability against the USD. While traders are waiting for a major breakout, stability in prices is still better than downward volatility. However, there are still several resistance levels that Bitcoin needs to overcome to experience a major short-term breakout.
Bitcoin Price Analysis
At the time of writing, the price of Bitcoin was $19,959.02. It is up by 4.01% against the USD. Over the last 24 hours, the price of Bitcoin has stayed in the $19,184.12 and $20,071.20 range. There are several Bitcoin price predictions that place the cryptocurrency significantly higher against the USD. Unfortunately, the unpredictability of the cryptocurrency industry makes it difficult to give a specific prediction.
Ethereum Price Analysis
Ethereum was trading at $1,348.91 at the time of writing. It is up by 3.95% against the USD. The ETH token has reached a $1,355.89 high and fallen back to a low of $1,294.41 over the last 24 hours. Ethereum has had a particularly hard time over the last few weeks since the Ethereum 2.0 launch. The token dropped as low as $1,250 before it started rising and has now found some stability around the $1,350 level.
BNB Price Analysis
BNB has done relatively well over the last 24 hours rising by 2.2% to the $291.28 level. It has traded in the $285.34 and $292.29 range with evidence of a more prominent bullish momentum on the way.
XRP Price Analysis
The XRP token is another cryptocurrency that has gained and maintained bullish momentum over the last few weeks. At the time of writing, the price of the XRP token was $0.4696. It was up by 5.20% against the USD. This means it is outperforming Bitcoin, Ethereum, and BNB. The XRP token has traded in the $0.4447 to $0.4718 trading range.
Before the end of the week, things may either take a turn for the better or worst. In any case, altcoins will follow Bitcoin’s lead as they typically have.