Bitcoin
Bitcoin tested the resistance level at $40,000 after gaining over 20% this week. The asset managed to penetrate over a dropping wedge pattern last Thursday. It extended its upside moves, breaking over the 20-d MA last Friday.
Since BTC broke the wedge formation, it soared in an ascending channel, breaking the 50-d MA while extending towards $40,000. Keep in mind that Bitcoin has never conquered this level since May.
Though Bitcoin overpowered $40k, hitting bearish .382 Fib ($40.5K), it failed to close its daily candlestick over this level. Keep in mind that the 100-d MA strengthens the resistance around this zone.
With that, the leading coin rolled over, breaking below $39,000 on Friday (Today). Such price moves forced Bitcoin to trade beneath the uphill price channel.
Ethereum
Ethereum explored the $2,450 highs this week after its price hiked by 15.1%. The coin broke the 200-d MA last week on Friday as it penetrated over $2,000. After that, the altcoin extended its fluctuations beyond the 50-d MA as it pushed towards the $2,400 resistance.
At this level, the leading alternative crypto battles to close its daily candlestick beyond the mid-May plunging trend-line. That way, Ethereum rolled over to trade at the critical support offered by a near-term climbing trend-line, indicated on the four-hour chart.
Against Bitcoin, the crypto extends its consolidations within a symmetrical triangle pattern. ETH hit the triangle’s upper border last Friday and plunged to 0.0573 BTC low on Wednesday. From there, ETH rebounded to test the levels beyond 0.06 BTC at the 20-d MA.
XRP
XRP managed to take its value up by 21.5% since last week. With such performance, the asset was the top gainer in the top ten currencies by market value.
On Monday, the digital coin conquered the 20-day moving average at $0.6. After that, XRP continued with new surges. It managed to breach the 50-day moving average on Wednesday while surging over $0.7.
Yesterday saw XRP surging toward $0.782 highs (bearish 0.236 Fibonacci) but failed to overpower this area. Moreover, the level had additional support from the 200-day moving average. With such a market atmosphere, the asset rolled over today, trading near $0.72.
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