Recently, the price fluctuations of Bitcoin, Ethereum, and Ripple have attracted a lot of follow in the market. Let's dive in and see what's happening!
Bitcoin's current price has surpassed $115,000, just breaking through the resistance of the 50-day Exponential Moving Average (EMA), and it's gaining momentum. Ether and Ripple are also not to be outdone, rebounding nearly 5% and 6% respectively. It seems that these giants may continue to rise.
For Bitcoin, there has been a recent rebound, and it is expected to challenge the $120,000 mark in the future. If the market price stabilizes above $116,000, it will be a positive signal. Currently, the Relative Strength Index (RSI) is at 58, indicating that the market's upward momentum is strengthening, and the MACD indicator also supports this view. However, if the price corrects to below $116,000, it may fall again to $113,129.
Ethereum has been fluctuating between $4,232 and $4,488 in recent weeks, and it is now just a bit away from breaking this upper limit. If ETH breaks through $4,488 and maintains this level, it may continue to target the historical high of $4,956. Like Bitcoin, Ethereum's RSI is also at 58, indicating good upward momentum, and the MACD indicator is approaching a bullish crossover, supporting the upward trend.
Let’s talk about Ripple, which has broken out of a key descending wedge structure and is currently around $3.04. If the upward momentum continues, it may challenge the daily resistance level of $3.40. This is also a market full of momentum, with the RSI also above the neutral level of 50, while the MACD showed a bullish crossover signal on Monday.
As for some common knowledge in the crypto world, let's talk about what circulating supply, market capitalization, trading volume, and funding rates are. These are all important indicators for understanding the cryptocurrency market. Circulating supply is the total number of tokens that can be minted or issued, determined by the underlying blockchain algorithm. Market capitalization is obtained by multiplying the circulating supply by the current market value. Trading volume is the total number of trades of a certain asset over a certain period, used to measure market sentiment. Funding rates help ensure that perpetual contract prices are consistent with the spot market.
Finally, don't forget: this article aims to provide informational reference and does not constitute investment advice. Past performance is not indicative of future results.💡