BTC, ETH, XRP Price Prediction — Can Bulls Withstand Bears’ Pressure and Push the Market to New ATH?

  • Denys Serhiichuk
    📈 Price Predictions

    The rates of the top coins are going up. Should traders rush to buy or have they already missed their chance?


BTC, ETH, XRP Price Prediction — Can Bulls Withstand Bears’ Pressure and Push the Market to New ATH?

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

If yesterday the cryptocurrency market only showed some signals of the rollback, today, bulls have firmly fixed their positions. All top 20 coins are in the green zone; Litecoin remains the top gainer, rising by 10% over the past day, while NEO has gone up only by 1% against the US dollar. The price rises have affected the total market capitalization, which has managed to overcome the psychological $250 bln mark.

Cryptocurrency market capitalization by CoinMarketCap

The current rise is taking place against the neutral news background even though India now completely prohibits operations with cryptocurrencies.

BTC/USD

Our recent Bitcoin prediction came true, and the rate could get to $8,000, but then came back to $7,900. Yesterday, the price of BTC set a maximum at $8,090 during the recovery. It was assumed that in the area of average rates, the pair would turn to decline, but in the second half of the day, the average purchase volumes allowed BTC price to fix in the lateral range. Bitcoin is consolidating in the area of $8,000 and is not in a hurry to go down.

BTC/USD chart by TradingView

It is possible that the decline in the specified area of $7,400 may begin today. We see that on a four-hour timeframe, the Stochastic RSI formed a signal to decline in the overbought zone. It is worth noting that the signal is rather weak and the four-hour moving average EMA55 can still hold BTC in the area of average prices for some time.

The price of BTC is trading at $7,944 at the time of writing.

ETH/USD

The price of Ethereum, as well as the flagship cryptocurrency, is stuck at the level of the moving average EMA55 and does not rush to the 100% Fibo support ($222.98).

ETH/USD chart by TradingView

Last night, a local maximum was set in the area of $250. In the morning, the pair slipped slightly below the average price level, but there is still no evident pressure from the bears. It can start today at any time, and then Ethereum will fall back to the support of the 100% Fibonacci level.

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The price of ETH is trading at $245.05 at the time of writing.

XRP/USD

Ripple is trying to consolidate above $0.40 according to our previous analysis; however, bulls are facing strong resistance from bears.

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Yesterday Ripple recovered in the orange corridor range. In the area of average prices, the pair turned to decline, but so far the lower limit of $0.392 keeps it from breaking through to the $0.370 support level.

XRP/USD chart by TradingView

The pressure of buyers is still missing, and trading volumes are shallow. XRP may continue to fluctuate in the orange range in the short-term scenario, but the decline is supposed to resume soon, and bears will break through the support of $0.370.

The price of XRP is trading at $0.3932 at the time of writing.

Cover image via 123rf.com
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About the author

Being a passionate blockchain enthusiast Denys has a vast experience in сryptocurrency market analysis, as well as blockchain related projects. All this is backed up by his working at W12 platform, Platinum Listing & ICO Advisory company, Export.Online and many others.

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ETH Price Is Heading to $400 Mid-Term Level: Why Are Most Traders Bullish?


ETH Price Is Heading to $400 Mid-Term Level: Why Are Most Traders Bullish?

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

Resisting the bears’ attempts to beat it down, Ethereum price retains its positions around $250. Moreover, it’s said to be approaching the $400 goal. When should it happen, and why are most traders optimistic about ETH’s future? Let’s analyze Ethereum price predictions from tradingview users and compare their price charts – you will be surprised to discover most of them share similar opinions.

Target – wave III

Ethereum moving on waves

Look at the pattern from Crypto_Boer: the wave pattern is playing out perfectly, and now Ethereum keeps moving to the wave III somewhere at the $377 level. The finish target here is $440, which can be achieved in mid-September or October.

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$360 by the end of June

 $400 mark can be hit in August

Here’s another price chart showing us Ethereum’s way to the heights. Bulls may show up soon. Our target is $360 for 50% upside potential. If ETH reaches such a level, crawling to the $400 mark in July-August will be more than possible.

Beware of a double bottom

ETH should go through a correction

Of course, before Ethereum is able to reach the desired heights, it should go through a correction. User JRghost predicts that ETH should touch $287 before starting the retracement. Price may look to hit PRZ and retrace, then extend to double bottom measured move.

Here are the technical indicators to prove that:

  • Coinciding bearish patterns - Cypher/Butterfly.

  • PRZ is highlighted in red

  • .382 and .618 zone for each pattern highlighted in Green

  • 382 is confluent for a back-test of double bottom confirmation line.

  • Higher Levels of Relative Strength

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Closest targets for ETH

Major targets for ETH

User bread911 has noticed a major momentum divergence on the ETH/USD 4 hr chart. The average is $236.50, while our major resistance targets now are $265, $280, and $340. The first two targets can be easily overcome during June, but what about the third one? It’s possible to reach, too!

Final words

ETH looks really good on the weekly and daily charts – we have broken the trend-line resistance, and begun fresh up-trend. The 5th Elliot wave count is looking primed.

If we manage to break up in the coming days, there’s a big chance Ethereum will reach $290-300 and then simply turn down again. It could potentially even become high for the coming months. If we drop and break down from the current patterns, ETH will stay inside the $220-260 range during June, but it will be more likely to break resistance later, and we’ll see a much bigger rally in the coming months.

Some traders also claim they see a triangle on the price chart, which is a sign of bulls being eager to get in and bears giving up. They simply can't break the flag support because there are just too many bulls wanting to get in.

Ethereum has already managed to break the major $230 resistance, but there’s a possibility of an H&S pattern, which we can consider to be some kind of neckline. If it breaks, outcomes might be sad. $250 is a clear short term resistance now, and the trend is still up, so candles are likely to pop up.

It should be noticed that a lot here depends on Bitcoin. For instance, ETH can repeat its current head & shoulders pattern and take a short nosedive. But in case of growth, we’ll see kicking off the push to $400 for the ETH/USD pair.

Ethereum charts by TradingView

Cover image via 123rf.com
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About the author

Vera Yurina (aka Vera Thornpike) writes on web tech and works as a translator, copywriter & crypto geek with a strong passion for creative writing and wordplay. Creates marketing and SEO content for IT & hosting companies, ICOs and finance media since 2013.

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