Cryptocurrency market update: Major cryptos turn south toward the end of the week
Bitcoin rose above $11,000 on Saturday but lost its momentum after closing in on $11,200 (Fibonacci 38.2% retracement of July 21-August 18 uptrend) resistance. At the moment, BTC/USD is losing 2% on a daily basis at $10.863. On the down side, $10,800 (Fibonacci 50% retracement) aligns.
Ripple Price Analysis: XRP/USD struggles to hold above $0.25
Ripple (XRP/USD) rose above $0.2550 on Saturday but closed the day virtually unchanged at $0.2518. In Sunday’s choppy market action, the pair edged lower and was last seen losing 0.85% on a daily basis at $0.2496. Ripple is up more than 3% on a weekly basis.
Ethereum Price Analysis: ETH/USD pares majority of weekly gains, trades near $370
Ethereum (ETH/USD) fluctuated in a relatively tight range on Saturday and came in under strong selling pressure on Sunday. As of writing, the ETH/USD pair was down 4.15% on a daily basis at $369.35. ETH/USD is still up modestly for the week.
