The cryptocurrency market is relatively quiet at the onset of the new
month. Bitcoin momentarily stepped above $50,000 on Monday but struggled
to sustain the uptrend. The largest altcoin, Ethereum, stalled
marginally above $1,600 following a sell signal on the 4-hour chart. On
the other hand, Ripple has sustained its position above $0.4 despite the
overhead pressure at $0.45.To get more news about [url=https://www.wikifx.com/]WikiFX[/url], you can visit wikifx official website.



　　In spite of the calm in the market, Cardano has grown in market value,
becoming the third-largest cryptoasset. The aspiring smart contract
token market cap stands at $39 billion while exchanging hands at $1.23.



　　Other selected coins with double-digit gains include Chainlink, Uniswap, NEM, THETA, The Graph, Compound, and Avalanche.



Bitcoin technical breakout intact

　　Bitcoin is exchanging hands at $49,000 at the time of writing. It is
immediately supported by the 100 Simple Moving Average (SMA) on the
4-hour chart. The recent breakout from the falling wedge pattern had a
16% target at $54,000, but BTC stalled marginally above $50,000, mainly
due to the resistance at the 50 SMA.



　　If support at the 100 SMA holds the ground, Bitcoin will continue with
the upswing to $54,000. Besides, the Moving Average Convergence
Divergence (MACD) reinforced the bulls intensifying dominance in the
market.It is worth mentioning that as long as Bitcoin is trading below
the 50 SMA and by association $50,000, recovery will be hampered.
Similarly, failing to protect the 100 SMA support could trigger declines
toward the 200 SMA near $45,000 (recent support level).



Ethereum upswing to $1,700 depends on a crucial barrier

　　Ethereum is flipping bullish again after stalling slightly above
$1,600. Immediate support has been established at the 100 SMA, allowing
bulls to focus on higher price levels. The MACD indicator cements the
bulls' position in the market. For instance, the MACD line (blue) is
almost crossing into the positive territory while widening the signal
line's divergence.



　　Notably, a breakout past the 38.2% Fibonacci retracement level will
leave Ether open-air to explore toward the hurdle at $1,700, as
illustrated by the 50 SMA on the 4-hour chart.It is vital to keep in
mind that failing to step above the 38.2% Fibo allows the bears to
increase their positions while aiming for losses back to $1,500 and
$1,400, respectively. Moreover, the resistance at $1,600 must come down
to bring Ether out of the woods.



Ripple prepares for a 30% move

　　The cross-border token is in consolidation after meeting the barrier
at $0.45. The rebound from $0.4 was slow but consistent. Meanwhile,
XRP's price action over the last couple of weeks has printed a
symmetrical triangle pattern.



　　This pattern does not have a bullish or bearish bias. It can lead to a
massive breakout or breakdown. If the price slices through the upper
trendline, XRP will hit a 30% target of around $0.575. The international
money transfer token is currently doddering at $0.44 and drawing closer
to the potentially massive upswing.