RATE Group | Ethereum, XRP, Litecoin Rejected: More Losses to Come
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Ethereum, XRP, Litecoin Rejected: More Losses to Come

01 May Ethereum, XRP, Litecoin Rejected: More Losses to Come

Posted at 09:21h in Cryptocurrency News by

Despite the bullish sentiment surrounding the Bitcoin’s halving, multiple technical indicators suggest that Ethereum, XRP, and Litecoin are headed for a leg down after the recent market surge.

Key Takeaways

  • Ethereum got rejected by the upper boundary of a parallel channel where it has been contained for a while, which could result in a drop to the lower boundary of the channel at $175.
  • Meanwhile, XRP may pull back to $0.20 after not being able to move past the massive resistance ahead.
  • Litecoin, on the other hand, sits on top of a major support cluster that might be hard to break.

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Investors appear to be exiting their long positions as Ethereum, XRP, and Litecoin signals point to a steep correction.

Nearly $50 billion flooded the cryptocurrency market over the past two days, allowing most digital assets to post significant gains. However, a significant number of investors appear to be exiting their long positions, particularly for altcoins.

Ethereum Gets Rejected by…

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