BTC, ETH, XRP Price Prediction β€” Growth Was Changed by the Market Fall. Have Bears Seized the Initiative?

  • Denys Serhiichuk
    πŸ“ˆ Price Predictions

    πŸ“ˆ πŸ’±An increasing trading volume against the dump. Are traders switching to other coins or leaving the market?πŸ”€


BTC, ETH, XRP Price Prediction β€” Growth Was Changed by the Market Fall. Have Bears Seized the Initiative?

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

Perhaps, nobody expected such a quick dump on the cryptocurrency market, as yesterday evening the prices of the top coins went further up. Notable, Bitcoin touched the critical $9,000, however, could not consolidate there. After good growth by Ethereum, today, the chief altcoin is among the biggest losers, going down by 11%, while the rate of Bitcoin SV is declining even faster (drop by 19%).

All this affected the total market capitalization, which declined by $30 Bln over the day.

Total market capitalization

Today market dump was mainly caused by the technical factors, not fundamental ones. In this regard, let’s get to charts of the top 3 coins.

BTC/USD

Our previous BTC prediction did not come true, as the quotes did not stop at $8,450 and went more in-depth. On the other hand, Bitcoin dominance has increased by a few points, as altcoins are looking worse than the leading cryptocurrency.

BTC/USD 1-hour chart

Bitcoin rolled back to the position it was 5 days ago, so nothing critical happened in the long-term, just a usual correction. According to the graph, the RSI indicator is about to break the oversold area, suggesting the price could not go below $7,900.

This is also confirmed by the prevailing number of long positions over shorts. After that, traders can expect a bounce back to the nearest resistance at $8,450.

The price of BTC is trading at $8,229 at the time of writing.

ETH/USD

If yesterday ETH was rising above others, today, it is falling faster than other coins. Even the news about Tether and Ethereum blockchain could not stop the price decrease.

ETH/USD 1-hour chart

On the hourly chart, Ethereum is trading in the descending channel, and the price can even go deeper, as mentioned previously in our forecast.

Currently, the altcoin located above $250; however, it most likely go down to the corridor $235-$245. No technical signs show the movement below $235 - MACD is about to change its wave from bearish to bullish. The short-term idea is coming back to the $260 level until June 6-7.

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The price of ETH is trading at $254.32 at the time of writing.

XRP/USD

Even though Ripple underwent correction as well, its current position is looking towards the price growth. A technical analysis confirms such suggestions.

XRP/USD 1-hour chart

Fortunately, Ripple did not go deeper $0,40, meaning that the scenario is supposed to be bullish in the first part of June. MACD has already found the bottom, and its lines are looking upwards. The same pattern can be applied to RSI which has come out from the oversold zone.

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If no further decline occurs, one can expect Ripple at $0,44 on June 2-3.

The price of XRP is trading at $0.4197 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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Litecoin Price Analysis β€” Can the Upcoming Halving Push the Price to $150?

  • Denys Serhiichuk
    πŸ“ˆ Price Predictions

    After spectacular growth, Litecoin is moving even higher. Does LTC have strength for a new bull run before halving?


Litecoin Price Analysis β€” Can the Upcoming Halving Push the Price to $150?

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.

While the cryptocurrency market is waiting for a new bull run or a potential decline, Litecoin keeps going up. Currently, its quotes have increased by almost 4% over the last day; it is the only coin out of the top 5 who has not lost the value compared to its price yesterday.

Litecoin chart by CoinMarketCap

Besides the upcoming halving, the price increase might have been caused due to the partnership of Litecoin Foundation with the Bibox exchange and the blockchain-company Ternio, whose goal is to issue a plastic cryptocurrency debit card.

β€œThe upcoming LTC reward halving will push price to $160-$170 per LTC in the middle of July, but for 1 week before halving will happen we are waiting that traders will start to fix their profit and price will have a correction on $120-$130 price level,” says Artur Dzhalilov, CEO at Vexel.

Now, let’s get to the chart to analyze the future LTC rate.

 LTC/USD chart by TradingView

On the hourly graph, the "digital silver" is located under the bullish tendencies, even after a prolonged bull run. In this case, traders might expect the price to be at the nearest resistance level of $140 in the short-term scenario. The RSI indicator confirms it, as its lines are moving north, to the oversold area. Moreover, it looks like trading volumes are not going to decrease, remaining at their maximum positions.

LTC/USD chart by TradingView

On the 4-hour chart, the scenario looks less favorable, as Litecoin has still not faced an expected rollback. The MACD indicator is bearish, confirming the upcoming price drop.

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Besides, the trading volumes had also declined compared to the time when LTC rocketed from the 6th place to the 4th in the global crypto ranking. Taking it into consideration, the correction might push the price back to the nearest support at $125.

The price of LTC is trading at $137.62 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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