- The Bitcoin quote below $ 94,000 on Monday after being rejected at a key resistance level on Friday.
- Ethereum slips about $ 1,861, with correction threatening to extend to a broader bassist trend.
- XRP closes below its 50 -day EMA by $ 2.20, increasing the risk of an additional drop for $ 1.96.
The price of Bitcoin (BTC) is around $ 94,000 on Monday after Friday’s rejection. Ethereum (ETH) and Ripple (XRP) followed the steps of the BTC and faced rejections of their key resistance levels last week, with the correction threatening to extend to a broader bearish trend.
Bitcoin decreases when facing rejection at their daily level of $ 97,700
The price of Bitcoin tested again and was rejected around its daily resistance level of $ 97,700 on Friday. Then it decreased almost 3% for the next two days. At the time of writing on Monday, it quotes around $ 94,000.
If the BTC continues to correct, it could extend the fall to test its next key support level at $ 90,000.
The Relative Force Index (RSI) in the Daily Mark 60 graph after being rejected from its overcompra level of 70 on Friday, indicating a fading of the bullish impulse. If the RSI falls below its neutral level of 50, it would indicate a strong bearish impulse and a drop pronounced in the price of Bitcoin.
BTC/USDT daily graph
However, if the BTC recovers and breaks above its daily resistance at $ 97,700, it could extend the profits to test its psychological resistance at $ 100,000.
Ethereum could correct more after testing its daily resistance by $ 1,861
The price of Ethereum faced resistance around the daily level of $ 1,861 on Friday and decreased 1.87% for the next two days. At the time of writing on Monday, it continues to quote around $ 1,795.
If the ETH continues its setback, it could extend the fall to test its psychological importance at $ 1,700. A successful closure below this level could extend the fall to test its next level of support by $ 1,449.
The RSI in the 52nd Daily Graphic, floating around its neutral level of 50, indicating indecision among the operators. The RSI must move below its neutral level of 50 to maintain the bearish impulse.
ETH/USDT daily graph
On the contrary, if the ETH breaks and closes above the daily resistance in $ 1,861, it could extend the rebound to re -test its level of psychological importance in 2,000 $.
XRP shows weakness when closing below its 50 -day em.
The XRP price closed below its 50 -day EMA level by $ 2.20 on Saturday and decreased 2.26% to the next day. At the time of writing on Monday, he continues to quote around 2.14 $.
If XRP continues to decrease, it could extend the fall to $ 1.96.
The RSI in the daily brand 47, below its neutral level, indicating a bearish impulse.
XRP/USDT daily graph
On the other hand, if XRP breaks and closes above the level of $ 2.20, it will extend the rebound to test its maximum of March 24, $ 2.50 before potentially reaching $ 3.00.
Bitcoin, altcoins y stablecoins FAQs
Bitcoin is the largest cryptocurrency for market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any person, group or entity, which eliminates the need for the participation of third parties during financial transactions.
Altcoins are any cryptocurrency apart from Lbitcoin, but some also consider that Ethereum is not an Altcoin because it is from these two cryptocurrencies that bifurcation occurs. If this is true, then Litecoin is the first Altcoin, fork the bitcoin protocol and, therefore, an “improved” version of it.
The stablecoins are cryptocurrencies designed to have a stable price, with their value supported by an asset reserve it represents. To achieve this, the value of any stablecoin is linked to a raw material or financial instrument, such as the US dollar (USD), and its supply is regulated by an algorithm or demand. The main objective of the stablecoins is to provide an entry and exit ramp for investors who wish to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value, since cryptocurrencies, in general, are subject to volatility.
Bitcoin dominance is the relationship between Bitcoin market capitalization and total market capitalization of all combined cryptocurrencies. It provides a clear image of the interest that Bitcoin awakens among investors. A high dominance of the BTC usually occurs before and during an upward movement, in which investors resort to investing in relatively stable cryptocurrencies and high market capitalization such as Bitcoin. A BTC domain drop usually means that investors are moving their capital and/or benefits to Altcoins in search of greater returns, which usually triggers an explosion of increases in the Altcoins.
