ByBit
0
📈 Price Predictions
972 views

BTC, ETH, XRP Price Analysis — BTC Is Facing a Healthy Rollback, Altcoins Are Updating Local Minimum

  • Denys Serhiichuk
    📈 Price Predictions

    🔝🔴All top coins are in the red zone over the last few days. Our price analysis explains how long the correction is going to last🔬🏁

BTC, ETH, XRP Price Analysis — BTC Is Facing a Healthy Rollback, Altcoins Are Updating Local Minimum
Cover image via www.freepik.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Bitcoin continues to grow steadily. One can see a sharp rise again, but it failed to consolidate above $13,000.

The last time Bitcoin was located above $12,000 was January 2018, when prices declined amid the start of a downward bearish market. However, today, the situation is different. BTC continues to show impressive results, showing an increase of 40% in June alone, while its annual productivity grew by more than 250%.

Top cryptocurrency

However, altcoins are showing negative trends. If Ethereum, the second largest cryptocurrency capitalization, rose in price to $330, then XRP fell by more than 3% per day.

At the same time, the growth of Bitcoin did not affect Litecoin, EOS, Binance Coin, Bitcoin SV, and Tron – all of them are in the red zone compared to yesterday’s positions.

BTC/USD

The weekly chart details key support and resistance levels at $11,500 and $13,700, respectively, with the result that closing above or below these zones will determine the direction of the trend: either a price rise or a rollback.

BTC/USD 1- week chart

Our scenario for yesterday came true, as the expected rollback below $13,000 occurred. Since the beginning of the new year, there has been strong support for the weekly volume, except for March, when trading volume during the month was below average. This is a good sign for the bulls, as the movements are supported by strong liquidity and traders’ pressure.

👉MUST READ

Bitcoin Price Analysis for 2019: Will BTC Price Get Back to $20,000?

Bitcoin Price Analysis for 2019: Will BTC Price Get Back to $20,000?

If the market conditions maintain their current exchange rate, BTC may aim at a resistance of $13,500 in the coming days. If prices fall below $11,500, then traders should consider re-testing the psychological support zone at $11,000.

The price of BTC is trading at $12,750 at the time of writing.

ETH/USD

Although our Ethereum price forecast has not justified itself yet; the quotes are looking downwards, as we predicted earlier.

ETH/USD 1-day chart

In general, the cryptocurrency continues its growth, and the main idea was to rise by the width of the broken upward channel. As we see, the market has successfully fulfilled such a goal. At the moment, one can expect a decline and a test of the lower limit of the rising channel at $285. After that – continued growth with a potential target of $416. The MACD indicator confirms the long-term bullish tendencies.

The price of ETH is trading at $323.95 at the time of writing.

XRP/USD

Ripple is falling even faster than Bitcoin or Ethereum; its rate has dropped by more than 5% over the last 24 hours.

XRP/USD 1-hour chart

On the hourly chart, the XRP price declined from $0.46 to $0.42 just in 1 hour. 

👉MUST READ

Every Ripple Price Prediction 2019 Says the Same Thing: XRP Price Might Reach 10$

Every Ripple Price Prediction 2019 Says the Same Thing: XRP Price Might Reach 10$

From a technical point of view, the asset has found a bottom, and a bounce back is likely to happen soon. However, one should not expect a fast price rise to previous levels. The nearest support which Ripple may reach is $0.44.

The price of XRP is trading at $0.4269 at the time of writing.

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted
0
📈 Price Predictions
337 views

TOP 3 Price Predictions for BTC, ETH, XRP: Next Stop for the Bears?

  • Denys Serhiichuk
    📈 Price Predictions

    Analyzing the reasons for today’s cryptocurrency market decline

TOP 3 Price Predictions for BTC, ETH, XRP: Next Stop for the Bears?
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

November 22nd started with a huge market dump as Bitcoin, the top cryptocurrency, lost nearly 10% of its value since yesterday. The altcoins have also followed today's downward trend, as the top 10 coins are all located in the red. 

Top 10 coins by Coinstats

Here is key information about Bitcoin (BTC), Ethereum (ETH), and XRP (XRP).

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$129,201,282,733

$7,153.53

$29,610,280,555

-9.95%

Ethereum

ETH

$16,292,927,175

$149.96

$10,741,686,263

-11.77%

XRP

XRP

$10,151,900,406

$0.234456

$1,818,796,100

-4.67%

BTC/USD 

Our BTC prediction from yesterday came true as the price has almost reached the expected $6,875 mark.

BTC/USD chart by TradingView

Today’s sharp price drop for the leading crypto has more to do with a fundamental reason than a technical one. This mainly happened because of China's policy to ban any providers of crypto transactions to its citizens.

👉MUST READ

Bitcoin Price May Drop to $6,800 but Small Bullish Reverse Is Likely: Crypto Analysts

Bitcoin Price May Drop to $6,800 but Small Bullish Reverse Is Likely: Crypto Analysts

Looking the 4H chart, BTC has updated the bottom by touching the $7,000 mark. It is unlikely to go any deeper according to the Stochastic RSI and other indicators because they are showing that BTC is oversold. Meanwhile, the $7,500 mark will be retested soon as this previously served as a support level for BTC. A bounce back might occur through the end of the current week.

At press time, BTC is trading at $7,114.

ETH/USD

Compared to BTC and XRP, ETH has faced the biggest price drop (more than 11%) since yesterday.

ETH/USD chart by TradingView

Even though ETH has lost significant value from its shares, it is more likely to return to its previous positions faster than BTC. The last bearish candle has a long wick, which suggests that sellers could not fix the rate below $150 for a long period of time. Moreover, the coin is oversold on all time frames, especially the daily ones. Respectively, this chief altcoin could come back to the $155-$160 range soon.

At press time, ETH is trading at $149.74.

XRP/USD

XRP has shown the best price dynamics against the market decline. While the majority of altcoins have lost about 10%, the rate of the third most popular crypto has been reduced by 5%.

XRP/USD chart by TradingView

XRP has more than justified our previous scenario as the rate has gone far below the $0.24 mark. In terms of a short-term price projection, it is bullish as sellers have almost sold everything, giving a chance for buyers to accumulate positions before an additional decline against the bearish market. To sum it up, a bounce back could push the price up to $0.2450. 

At press time, XRP is trading at $0.2323.

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted