BTC, ETH and XRP Price Analysis for November 20
The weekend has begun with the continued growth of the cryptocurrency market as the main coins are in the green zone.
Bitcoin (BTC) has grown the least from the list as its rate has increased by 3.41% since yesterday.
Bitcoin (BTC) keeps trading above the support of $56,560. At the moment, the bullish scenario is more relevant than the bearish one as buyers made a false breakout of the purple line.
The trading volume is low, which means that sideways trading is the most likely scenario for the upcoming days. If the situation does not change, the correction may continue to $61,030.
Bitcoin is trading at $58,487 at press time.
Ethereum (ETH) is the biggest gainer today as the rate of the chief altcoin has risen by almost 5%.
Ethereum (ETH) is consolidating in the zone of the most liquidity around $4,300 after a bounceback from the support at $4,000. If the situation does not change, the growth may lead ETH to the recently formed resistance at $4,452. Such a scenario is relevant until the end of the next week.
Ethereum is trading at $4,305 at press time.
XRP is not an exception to the rule, going up by 3.97%.
XRP is trading similarly to Ethereum (ETH), as it is also accumulating power for a further move after the false breakout of the support at $1.0148.
Despite the fast bounceback, there are few chances to expect a market reversal as bulls need to gain more energy. If such a scenario comes true, the next level at which bears may seize the initiative is the zone around $1.15.
XRP is trading at $1.0895 at press time.
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