Ethereum was rightly trading below its major resistance level $190 in order to cross lines at $200 since the start of the ongoing month. However, yesterday, ETH price went as high as $192.47 and is trading at $191.61 (at the time of writing), as per the data feed from Coinbase. Important to note that the coin has been trading in the lower range from quite some time now, but there must be a persistent trade above $190 in order to notably cross $200 soon.
On the other hand, with lieu to compare the next biggest altcoin of the market after ETH, XRP has also shown a dramatic rise. Ripple was trading below $0.30 in the past 5 days, and it was just yesterday that it soared as high as $0.3059, while currently trades at $0.3006.
If we compare the price trends of both the coins, we see a noticeable hike in Ethereum as it mounted at $192 to hit the major resistance from trading around the $180.
Ethereum vs Ripple Price Analysis:
Analyzing the hourly movement over the past 5-days we see that initially, ETH was trading as low as $177.43, and the coin had a stable momentum then. It was just 2 days back when Ethereum price started progressing from trading around $185 to pushing it to $192.47 with a halting dip at $181.72, yesterday. The coin marked a remarkable rise of over 5% and 8% from $181.72 and $177.43, respectively.
The current trading price is supported by 100-day EMA at $191.02, followed by 100-day SMA at $188.35 and 10-day SMA at $185.39. On the contrary the long-term moving average, i.e. 50-day MA will have grounded support if the coin detains even after the 10-day SMA.
The immediate resistance for ETH price is $193 and $195, while the immediate and major support is the above-mentioned moving averages.
XRP has also grown notably from trading as low as $0.284 to $0.305 within the said time frame. However, the growth or the change in the price trend has not been as defined as that in ETH. The coin has grown by over 7% is in the ‘strong buy’ phase.
The current trading price of Ripple has supported by 10-day MA at $0.296 followed by 50-day MA at $0.278. Currently, it has hit the major resistance level at $0.30 which may take a turn to have a determined trade above $0.30 now.
Technical Indicators of Ethereum:
The MACD of Ethereum is above zero, with the signal line and MACD line being joined and having a bullish run.
The RSI of the ETH coin is touching the upper end at 70, to rightly cross the overbought region and proving this to be a good time for the investors to plan their entry.
Technical Indicators of Ripple:
The MACD of XRP is slightly above zero, with the signal line and MACD line running adjacent to but away from each other.
The RSI of the coin is rightly above 40 and exhibits no extremities at present.