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BTC, ETH, XRP Price Analysis — Slightly Turning to Red. Has the Rise Finished Not Even Having Started?

Price Predictions
Fri, 06/14/2019 - 07:55
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Denys Serhiichuk
Bullish tendencies have been mixed with bearish ones. Our price analysis explains whether buyers have already run out of steam or not
BTC, ETH, XRP Price Analysis — Slightly Turning to Red. Has the Rise Finished Not Even Having Started?
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Contents

If yesterday almost all the top coins were rising, and only Litecoin was going down, today, most of the assets are in the red zone. Bitcoin is the only coin out of the top 3 whose quotes have increased. The possible reason for this might be the recent news that Bakkt starts testing deliverable Bitcoin futures on July 22.

The top losers are Cardano and Litecoin, whose rates have declined by about 4%. Against this, Bitcoin SV has surpassed the $200 mark and looks like it is not going to decrease.

However, a slight decline has not affected the trading volume, which keeps increasing, meaning that traders are not leaving the market, rather switching from altcoins to Bitcoin and vise versa. In this regard, the total market capitalization has increased by $1 bln and now makes up $262.8 bln, while the BTC market share is 55.7%.

BTC/USD

Slowly but surely Bitcoin is moving according towards our prediction made yesterday, and the quotes are already located above $8,250.

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On the 4-hour timeframe, it can be seen that the price got out at the same time from the downward channel and side channel. Thus, two bullish signals appeared at once and, as a result, the price managed to consolidate above $8,100.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

The next immediate goal should be reaching the $8,400 mark. However, a significant obstacle on the way to it can be the MA 100, which is currently passing through the $8,188 mark. The role of support is designed to play a rising trend line, as well as the level of $7,910.

The price of BTC is trading at $8,235 at the time of writing.

ETH/USD

Our Ethereum price prediction came true, as the rate rolled back to the $255 mark. Even though the rate has dropped by 1%, the trading volume remains at the present levels, suggesting that traders and investors see potential in the leading altcoin.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the 4-hour chart, Ethereum remains bullish until the $250 level is not broken. The leading altcoin has not shown all its potential in June, as the price is located below levels reached in May. Thus, the MACD indicator has been bullish, confirming the price rise until the end of June. In this regard, ETH may reach $270 until June 20.

The price of ETH is trading at $256.10 at the time of writing.

XRP/USD

Ripple is also moving according to our scenario as the bulls could not stay above $0.40 for a long time. Currently, the asset has lost around 1% from its price yesterday.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the 1-hour chart, Ripple has been trading sideways since June 10, and the coin is not going to leave this corridor at once. This is backed by the RSI pattern, which is located in the neutral zone.

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Taking into account the historical background, the rate is about to go down, as the quotes fluctuate within the same price level for a long time. In this case, Ripple might touch $0.3830 before coming back to $0.40 again.

The price of XRP is trading at $0.3974 at the time of writing.

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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 makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.