- The bulls return on Sunday as altcoins continue to find demand.
- The Bitcoin lineup is playing intact but poised to increase.
- Ethereum leads the way among the top 3 cryptocurrencies.
The most preferred crypto coin, Bitcoin, is looking to extend the bullish momentum while trading around $ 11,600, with its eyes on the $ 11,800 mark. Ethereum is the best performer among the top three cryptocurrencies on Sunday. Ripple is on course to regain the $ 0.28 barrier, having found strong support at $ 0.2741. The total market capitalization of the top 20 cryptocurrencies now stands at $ 368.26 billion, as cited by CoinMarketCap.
The 3 most favorite digital assets are trading at the forefront while starting a new week. Let’s look at FXStreet’s Confluence Detector tool to see how they are positioned on technical charts.
BTC / USD: $ 11,800 on buyer’s radar
Bitcoin expands its play range below the fierce resistance at $ 11,633, at the confluence of SMA10 1D, 61.8% 1D Fib and 1W.
On a break above the latter, the bulls could meet minor resistance at $ 11,700, where the Bollinger Band 1D Middle and Fib 161.8% 1D coincide. The next soft cap is estimated at $ 11,830, the previous week’s high.
On the contrary, sellers are aiming for the immediate lower target to $ 11,513, the intersection of the previous month’s high, 23.6% 1D Fib and 1H Middle Bollinger Band.
The convergence of the Pivot Point 1D S3 and the Bollinger Band 1D Lower at $ 11,250 will be the next cushion. Sell pressure will intensify below the latter, opening lows for a test of $ 10,900, 23.6% 1M Fib.
ETH / USD: Acceptance above $ 409.50 critical for bulls
Ethereum is heading towards the robust resistance at $ 409.50, which is the intersection of the previous day’s high, Pivot Point 1D R1 and SMA100 4H.
A decisive break above the aforementioned hurdle will require a test of $ 413, the previous week’s high and the 1D R2 pivot point. The next upside target is lined up at $ 434.50, which is the 1M R2 pivot point.
On the downside, the immediate cushion looks to $ 405, where the SMA10 4H, 23.6% 1W and 1D Fib measures. A bunch of soft support levels are lined up below the latter, around the $ 398 levels, the convergence of 61.8% 1D Fib and 38.2% 1W Fib.
The confluence area of the SMA200 1H, the previous day’s low, and the Pivot Point 1D S1 at $ 392 will be the level to beat for ETH bears.
XRP / USD: bullish bias intact above $ 0.2740
Ripple is trading with moderate gains on Sunday, with the immediate bullish barrier aligned at $ 0.2800, the intersection of the previous day’s high, 61.8% 1W Fib and 1H SMA200.
The next big hurdle is placed at $ 0.2823, or SMA10 1D. Buyer interest will rise above the latter, with the $ 0.2894 target in sight. This level is the confluence of the Pivot Point 1M R1 and the Bollinger Band 1D Middle.
Bulls in XRP will likely stay in charge as long as the spot holds above the strong support of $ 0.2740, where the intraday low, SMA5 1D and SMA100 1H coincide.
An acceptance below this critical support, the level of $ 0.2693 (38.2% Fib 1W) could hold an additional downside.
See all technical levels of cryptocurrency.