Ethereum [ETH] Drops Below XRP in Crypto Rankings After Bearish Price Performance

2019-1-10 17:59

Ethereum Daily Chart – Source: Tradingview.com

After a bullish outperformance since mid-December, Ethereum is undergoing a sharp drop today which has resulted in it dropping to the third position in the cryptocurrency rankings by market cap.

It has now been overtaken by Ripple’s XRP which also overtook Ethereum during the bearish market conditions of November.

The drop in Ethereum quickly fell below an expected support level at $140.

$140 to $128 was an important area of liquidity for Ethereum during the November drop. Price is currently meeting some support at $128.

Ethereum 4-Hour Chart – Source: Tradingview.com

The drop took place after a head and shoulders pattern formed as seen above on the 4-hour chart.

Head and shoulders pattern is a bearish trend reversal pattern.

While price broke below the neckline of the head and shoulders pattern earlier in the week, price consolidated along with the rest of the market until today.

Bearish movements across the market catalyzed the current sharp drop being seen.

Key Takeaways: Ethereum had been bullishly outperforming since mid-December. A sharp bearish drop has resulted in Ethereum dropping to the third position in the cryptocurrency ranking by market cap with Ripple’s XRP taking the second position. The bearish drop quickly broke through an expected support level at $140. Some support is currently coming into play at $128. A head and shoulders pattern preceded the sharp bearish move. Latest Ethereum News:

ConsenSys Interview Opera to Discuss Their Native Browser Wallet Built on Ethereum

Parity Technologies Receives $5 Million Grant From The Ethereum Foundation

DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Ethereum [ETH] Drops Below XRP in Crypto Rankings After Bearish Price Performance was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

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Ethereum (ETH) на Currencies.ru

$ 1908.61 (+1.44%)
Объем 24H $38.62b
Изменеия 24h: -5.60 %, 7d: -6.90 %
Cегодня L: $1791.61 - H: $1944.11
Капитализация $230.191b Rank 2
Цена в час новости $ 118.2 (1514.73%)

ethereum rankings xrp bearish cryptocurrency market drop

Источник: blokt.com

ethereum rankings → Результатов: 23


Ripple’s XRP Retakes Second Position From ETH in Crypto Rankings Despite Descending Triangle Breakdown

Ripple’s XRP has retaken the position of second largest cryptocurrency by market cap after overtaking Ethereum’s cryptocurrency ether for a second time within the last two months. XRP overtook Ethereum for the first time around mid-November amid bearish drops across the market where XRP held its value better than Ethereum.

2019-1-10 18:19


Ripple’s XRP Falls to Third Largest Cryptocurrency After Ethereum’s Outperformance

XRP / USD Daily Chart: Ripple’s XRP has moved down in the cryptocurrency rankings as Ethereum’s cryptocurrency ether reclaims the position of the largest altcoin by market cap. While XRP had strongly outperformed ether during declining market conditions, ether has been recording extremely bullish movements trading in a steep uptrend.

2019-1-2 18:49


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