Altcoin News

Ethereum, Bitcoin and Altcoin Analysis

BTC BTC had been following an ascending support line since the beginning of July. On Dec 4, it broke down from the line and proceeded to reach a low of $42,000. However, it bounced shortly afterwards and validated the line as resistance (red icon). The line also coincides with the 0.382 Fib retracement resistance level at $52,450.

Until it manages to reclaim it, the trend cannot be considered bullish.

[Chart By TradingView](https://www.tradingview.com/symbols/BTCUSDT/)

ETH Unlike BTC, ETH is still following its ascending support line. The Dec 4 fall only caused a validation of this line and created a long lower wick (green icon). This is considered a sign of buying pressure.

Therefore, the price movement of ETH is more bullish than that of BTC and could eventually move towards a new all-time high price.

[Chart By TradingView](https://www.tradingview.com/symbols/ETHUSDT/)

XRP XRP (XRP) has been decreasing since Sept 5. However, the movement was contained inside a descending parallel channel.

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