Ethereum, Ripple, Bitcoin Outlook, Analysis of Top 16 Cryptos

[Goodcat49]

The price of Ethereum soared with high momentum by 15.13% over the weekend recovering from its Friday lows of $146 to Sunday highs of $168.58. At press time, Ethereum is trading at $138.52 (-0.99% 24h), Bitcoin (BTC) trades at $3878.28 (0.17% 24h) and Ripple at $0.314041 (-1.94% 24h).

On the daily view, as you can see, many of the Top 16 cryptocurrencies are in “the Green”, while Bitcoin SV (Satoshi Vision) has dratically decreased and is traded at $67.78 (-4.62% 24h). Surprisingly its only Tether (0.51% 7d), Binance Coin (0.09% 7d), Bitcoin SV (3.01% 7d) and Maker (42.64% 7d) that have a weekly trading price in Green.

From that time, the price of the second largest cryptocurrency by market cap, Ethereum, started sloping down by more than 20% to $138.44 on February 25.   

When you look at the hourly chart, the price had the support of a 0.618 Fibonacci level on Monday’s demise and the price trend begun creating a symmetrical triangle, particularly around those levels.   

This triangle could be taken by many as a bearish pennant, a trend continuation configuration so another collapse from this point could be in pipeline.   

Further consolidation and a slanting trend would now be anticipated before another major breakdown as the market players are becoming muddled by these present crypto market conditions.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/top-cryptos-analysis/