RATE Group | Bitcoin Price Eyes Breakaway, According to RIG Trend Lines
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Bitcoin Price Eyes Breakaway, According to RIG Trend Lines

30 Sep Bitcoin Price Eyes Breakaway, According to RIG Trend Lines

Posted at 14:36h in Bitcoin News by

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The major cryptocurrencies continued the relatively quiet weekend so far today, with only Ripple’s rally making headlines in the segment. Trading volumes are low, as is volatility, and most of the top coins are stuck in very narrow short-term ranges. The mixed short-term and bearish long-term outlook is intact, but Ripple’s strength led to an upgrade in our long-term trend model and now we have a long-term buy signal in the top 3 coins for the first time since mid-June.

Despite the upgrade, traders and investors should still take the broader trends in the market into account, and remain cautious with new positions, since a durable rally is highly unlikely without a healthy bullish leadership in the segment. Today, the short-term bullish coins haven’t been following Ripple higher, with Monero, Litecoin, and Dash all drifting sideways this weekend.

XRP/USDT, 4-Hour Chart Analysis

Ripple managed to recapture the resistance zone near $0.57 again today in early…

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