BTC, ETH, XRP Price Prediction — Did Bulls Need a Break or Is the $250 Bln Market Cap Back?

  • Denys Serhiichuk
    📈 Price Predictions

    🐂 🐻The initiative has changed from bulls to bears and vice versa. Our price analysis explains what that means for the cryptocurrency market👈


BTC, ETH, XRP Price Prediction — Did Bulls Need a Break or Is the $250 Bln Market Cap Back?

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

The situation on the cryptocurrency market is being changed very fast; if yesterday most of the coins were in the red zone, today, only Bitcoin SV and Stellar Lumens are losing their value out of the top 10 coins. Such a slight bounce back pushed the market capitalization to the crucial $250 bln level.

Top 10 cryptocurrency

Analyzing the reasons of the recent 2-day correction, it was mainly caused due to the pressure from big market players and the influence of the US and Chinese trade wars, prompting investors to get rid of high-risk assets.

However, from a technical point of view, the market has adjusted before the upward movement. Moreover, round values are often considered as severe psychological levels. Therefore, the recent Bitcoin rebound from $9,000 is not unusual.

BTC/USD

Even though the price of Bitcoin has increased by only 0.4% over the previous day, its quotes are trading according to our recent forecast, moving to the critical resistance at $8,000.

BTC/USD 1-hour chart

Buyers' dominance is observed on the hourly time frame: RSI shows a bullish divergence, signaling the likelihood of short-term recovery of BTC to $8,000.

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However, taking into account the situation on the previous charts, after the upward correction, the price decline is likely to continue to the area of $7,800.

The price of BTC is trading at $7,800 at the time of writing.

ETH/USD

The second crypto by capitalization has adjusted as we predicted earlier, and at the moment there is a rebound from the lower border of the Bollinger Bands indicator. This can be a good signal for continued growth. As one can see, earlier, this test provoked an increase from $145 to $280. The current situation looks similar, so we should expect an attempt of a sharp rise in the cryptocurrency’s quotes.

ETH/USD daily chart

An additional positive signal is the fixing of quotes above the upper boundary of the ascending channel. The growth target will be at a distance equal to the width of this corridor.

The price of ETH is trading at $245.54 at the time of writing.

XRP/USD

On the hourly chart, XRP quotes are trapped within the Triangle pattern; there is a decrease in volatility in front of a strong movement.

XRP/USD 1-hour chart

As the main trading idea, we can expect Ripple to test the lower boundary of the triangle model and then rise to its upper boundary. In the case of its breakdown and consolidation above the level of $0.4790, one should expect continued growth to the target at $0.5875. The basis for determining the end point of the movement of quotes is the height of the geometric pattern.

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The price of XRP is trading at $0.4015 at the time of writing.

Cover image via www.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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