Crypto Market Update: Bitcoin Trades Sideways, Ripple Holds Support
Bitcoin's recent rally above $81,000 has shown signs of cooling off as it maintains sideways trading around the $78,000 support. However, its downside remains protected due to major moving averages providing support and steady capital inflows absorbing selling pressure.
Ripple, on the other hand, retains a neutral-to-bullish outlook with a current price of $1.37. The remittance token's upside has been broadly constrained since reaching $1.70 on August 17, but it still holds onto key support at $1.35 anchored by a moving average.
Uniswap is bucking the trend with a firm bullish outlook, trading at $5.84 and up over 10% on Tuesday. Its decentralized exchange native token has marked four straight days of gains, indicating a robust technical structure in place.