fxstreet.com 04 Feb, 2021 14:15 am

Bitcoin on the launchpad to $40,000 as ETH rally loses steam

Bitcoin on the launchpad to $40,000 as ETH rally loses steam
Ethereum’s uptrend has cooled off after towering the market on Thursday. On the other hand, Bitcoin is on a mission to get back into the spotlight if

BTC/USD 4-hour chart Bitcoin will embark on another breakdown if the support at $37,000 ceases to hold.The Relative Strength Index on the 4-hour chart is likely to return in the overbought area, hinting at the bullish outlook remaining intact.ETH/USD 4-hour chart Note that Ethereum may abandon the bullish narrative altogether if the immediate support at $1,600 crumbles.In the last couple of days, Ripple has consolidated the massive losses above the 50 SMA on the 4-hour chart.

XRP/USD 4-hour chart Thus, sideways trading will dominate until XRP makes a move either above $0.Some areas of interest include $1,500, the 50 SMA currently at $1,400, and $1,300.

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