Price Analysis

Bitcoin Price Rally Commenced, Altcoins Tensed! What’s Next?

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Highlights

    Bitcoin price after ranging above $64,400, seems to have relaxed a little yet sustained strongly around these levels

    The altcoins adopt a silent trend and remain out of the trader’s attention, therefore a minute swing in the price is recorded

BTC price remained just 2%-3% short in attaining the highest ever levels in history which were followed by the highest ever day close for Bitcoin. On the other hand, popular altcoins undergo a sideways trend. Ethereum price managed to jump nearly $100 whereas Cardano price dropped close to $2.

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It appears that the primitive crypto is dominating the whole crypto space, other assets seem to have overshadowed. However, the altcoins maintained a narrow trend but attempted hard to follow the Bitcoin price rally.

Ethereum Price Struggles To March Close To $4000

The world’s second-largest crypto, Ethereum after maintaining a narrow trade through the Asian trade day, finally broke above its consolidation. The bulls entered the space and banged on the price which was swinging around $3850. However, the extraction of profit is also visible as, despite a huge green candle, a notable wick also has made its way. 

Also Read: Bitcoin(BTC) Price An Inch Close To ATH, What’s Stopping It To Move Ahead?

Cardano Price Temproraliy Fakes The Bears

The asset was trending within the bearish trap for the past couple of days. After trending within the symmetrical triangle, the asset slowly slid down and was about to fall into bearish divergence. Yet, the buyers stepped in and temporarily avoided the asset to experience more loss. However, the fear of a rebound towards the bearish trap still hovers the asset. And to undergo a notable uptrend, the asset needs to achieve and sustain levels above $2.2.

Also Read: Dogecoin(DOGE) Price Could Follow Bitcoin Price Rally Soon, $0.5 Achievable!

XRP Price On A Decisive Phase

Ripple’s native token, XRP experienced a pretty consolidated start of the Q4 as the asset failed to register any notable pump. Moreover, the levels at $1 also appeared at stake for some time, when a considerable flip from bearish divergence. Despite the flip, yet the price is attempting very hard to smash these levels and hence cemented at $1.12. To keep up the uptrend, the XRP price is required to initially attain a $1.3 resistance zone. 

Collectively, the altcoins appear to be slightly overpowered by the Bitcoin(BTC) price rally. Yet Ethereum(ETH) price is hovering very close to its current ATH. On the other hand, Cardano(ADA) price and Ripple’s XRP price are also trying to absorb the bullish market sentiments and utilize the opportunity at the maximum. 

Also Read: XRP Breakout Is Imminent! Can Traders Expect XRP Price to Hit ATH In this Bull Run?

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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