BTC, ETH and XRP Price Analysis for November 20
Most of the coins keep growing, according to CoinStats.
The price of Bitcoin (BTC) has increased by 2.64% since yesterday.
On the daily chart, the rate of BTC is looking bullish as the price is on its way to testing the resistance level again. If the bar closes near that mark, the accumulated energy might be enough for a breakout, followed by a move to the $39,000 zone.
Bitcoin is trading at $37,406 at press time.
Ethereum (ETH) is more of a gainer than Bitcoin (BTC), going up by 4.63%.
Even though the rate of ETH has increased today, it keeps trading in the middle of the channel. A further upward move is possible only if the price gets back to the $2,100 zone and fixes around it. In this case, traders can expect a resistance breakout shortly.
Ethereum is trading at $2,043 at press time.
XRP is the least gainer today, going up by 0.35%.
The rate of XRP is far from the support and resistance levels, which means that neither bulls nor bears have seized the initiative yet.
All in all, ongoing consolidation in the area of $0.60-$0.65 is the more likely scenario for the current week.
XRP is trading at $0.6208 at press time.