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Crypto outlook | markets are waiting for new momentum

  

Fundamental data

After the new ETH ETFs from the US cleared another hurdle a fortnight ago, crypto markets were not able to regain fresh momentum in recent trading days. It seems as if there must now be new impulses that can push markets further upwards. Even the latest comments from Ripple’s Brad Garlinghouse have not been able to change this situation. He said that it will only be a matter of time before the US Securities and Exchange Commission would authorize further ETFs of XRP, Solana and Cardano. Currently, Bitcoin ETFs can already be traded, but it might probably take some time before ETH ETFs will be fully implemented.

Technical analysis:

– BTC: Bitcoin is trading at USD 67,615 and has barely moved last week. However, a closer look at the market shows that the recent trend could develop again with fresh upward pressure.

If the rising trend line holds, an upward breakout could move the market with new impetus, as the daily chart shows. If the price can break the USD 68,500 handle Bitcoin might proceed towards the USD 71,000 range.

– ETH: Ethereum is trading at USD 3,785. Here, too, there has been no new upward momentum last week, with the market remaining in a wait-and-see pattern. However, as there was no significant correction, the recent breakout could soon continue upwards.


In this case, it might be worth keeping a look on the USD 4,000.00 range. Above the psychological price mark, the positive trend could continue and the price could then move towards USD 4,800.00. Prices should then move fast above last week’s range.

– XRP: Ripple is trading at USD 0.5240 and, according to the weekly chart, remains below the 50-moving average, which continues to limit the market upwards. Only a breakout to the upside should open up new potential here.


The daily chart also shows hardly any upward potential here. On the contrary, XRP must now take care and continue to defend the red, ascending trendline. If this is broken, the price could quickly move below USD 0.5000 and show further negative potential. The latest comments from Brad Garlinghouse, CEO of Ripple, have also failed to provide fresh potential to move prices.

– LTC: Litecoin is trading at USD 83.90 and continues to move in an extended sideways pattern.


Although the daily chart is again showing positive impulses, as the price is once again able to settle above the 50-moving average, there is still hardly any strong upward potential. The positive trend is therefore already looking tarnished. As before, Litecoin must first conquer the important zone in the USD 95.00 range in order for fresh potential to emerge.


Vantage does not represent or warrant that the material provided here is accurate, current, or complete, and therefore should not be relied upon as such. The information provided here, whether from a third party or not, is not to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any financial instruments; or to participate in any specific trading strategy. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. We advise any readers of this content to seek their own advice. Without the approval of Vantage, reproduction or redistribution of this information is not permitted.

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