Bitcoin is stable above $38,000 to allow bulls to regroup for another run-up to price levels past $40,000. Ethereum is having an uphill battle sustaining the uptrend above $1,200. Ripple is trading between the 200 SMA resistance and the 100 SMA on the 4-hour chart. The cryptocurrency market has slowed down the drastic upward movements apart from Bitcoin’s surge to a new all-time at $40,425. However, some selected altcoins continue to tower the crypto horizon with their massive gains. For instance, Enjin Coin is up 60% over the last 24 hours; Nano spiked 30% while Civic is up a whopping 56%. Bitcoin seeks stability after rejection from new all-time high The bellwether cryptocurrency exchanged hands above $40,000 for the first time in its history. However, due to the extremely volatile market, BTC retreated considerably, revisiting levels slightly above $36,600. As expected, Bitcoin did not stay down for long. Recovery occurred, stepping above $38,000. At the time of writing, BTC/USD is trading at $38,677 amid a struggle to complete the leg above $40,000. For now, stability seems critical to ensure that declines are avoided while the focus is kept on levels beyond $40,000. BTC/USD 4-hour chart Bitcoin must close the day above two key levels; the ascending channel’s lower boundary and $38,000. However, if it fails, declines are likely to come into the picture, pulling the price back to the recent support at $36,600. Other key support levels to keep in mind include $36,000, $34,000, and $30,000. Ethereum fights to keep the uptrend intact The pioneer altcoin has been on an upward roll since mid-December to the extent of trading the latest new yearly high at $1,294. However, a minor breakdown occurred from the rising wedge pattern as predicted on Thursday. Support at $1,200 and $1,100 was shattered, stopping the predicted slide to $900. Meanwhile, recovery is underway, with bulls persistent on reclaiming the position above $1,200. Stability above this crucial level is expected to increase investors’ confidence in the recovery and ETH’s ability to rise to the early 2018 highs above $1,400. ETH/USD 4-hour chart Recovery and stability will be a pipe dream if Ether fails to close the day above $1,200. In case bears slice through the next support target at $1,100, we can anticipate another leg down to $1,000 or even $900. Ripple technicals bring two key levels to test Ripple almost hit $0.4 after the breakout discussed on Thursday. On the upside, the 200 Simple Moving Average limited movement. On the other hand, a reversal from the hurdle found refuge above the 100 SMA on the 4-hour chart. In the meantime, Ethereum is trading at $0.32 while buyers fight to take control over the price. Immediately below the current price level, $0.3 is the pivotal level that must be kept intact to avoid attracting high overhead pressure. XRP buyers must also keep their eyes on $0.4 because breaking above the critical level would pave the way for gains above $0.6. XRP/USD 4-hour chart On the downside, massive sell orders are likely to be triggered if the cross-border token closes the day under $0.3. Such a price action would increase the gravitational pull on XRP, putting the 100 SMA and the 200 SMA to the ultimate test. Further down, Ripple will seek refuge at $0.2 and the December low at $0.17. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next GBP/USD: Ready to rally? Three signs that bulls are ready to take over Yohay Elam 1 year Bitcoin is stable above $38,000 to allow bulls to regroup for another run-up to price levels past $40,000. Ethereum is having an uphill battle sustaining the uptrend above $1,200. Ripple is trading between the 200 SMA resistance and the 100 SMA on the 4-hour chart. The cryptocurrency market has slowed down the drastic upward movements apart from Bitcoin’s surge to a new all-time at $40,425. However, some selected altcoins continue to tower the crypto horizon with their massive gains. 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