Cryptos To Watch This Week: Bitcoin (BTC), Cardano (ADA), XRP
The crypto market looks great today, with the most important coins trading in the green.
In a new article, Cointelegraph notes that in a recent interview with them, SEC Commissioner Hester Peirce said that the regulator would have to become accommodative to innovation – it’s also important to note the fact that there are some people from the crypto space and the traditional financial institutions who are seeking their guidance.
They also noted that Bloomberg’s crypto newsletter predicted that a Bitcoin ETF could see daylight soon. This will happen if Joe Biden is elected, according to the online publication.
Here are some coins that are worth checking out this week, according to the online publication.
At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $11,372.03. The digital asset is up by 0.32% in the past 24 hours.
Cointelegraph notes that “if the buyers can push the price above the overhead resistance at $11,500, the next stop for the BTC/USD pair could be $12,000 and then $12,460.”
They also note that such a bullish view could become history if the coin drops to $10,853. This falling price would suggest that the current breakout was nothing but a bull trap.
At the moment of writing this article, Ripple’s XRP is trading in red, and the digital asset is priced at $0.254422.
“A breakout and close (UTC time) above $0.26 will complete an inverse head and shoulders setup that has a pattern target of $0.300288,” Cointelegraph notes.
The online publication also made sure to highlight the fact that “the moving averages on the verge of a bullish crossover and the RSI close to 60 suggest an advantage to the bulls.”
Cointelegraph notes that if buyers can boost the price above the neckline, “it will complete a reversal setup that has a pattern target of $0.1331.”
Such a bullish view could be invalidated if ADA falls and breaks below the moving averages.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.