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

  • Denys Serhiichuk
    📈 Price Predictions

    📈 💱An increasing trading volume against the dump. Are traders switching to other coins or leaving the market?🔀

BTC, ETH, XRP Price Prediction — Growth Was Changed by the Market Fall. Have Bears Seized the Initiative?
Cover image via www.123rf.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

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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Ethereum Price Prediction — $30 Bln Market Cap Is Reached. Can We Expect New Levels in 2019?

Ethereum Price Prediction — $30 Bln Market Cap Is Reached. Can We Expect New Levels in 2019?

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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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$

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.

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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 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.

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Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester

  • Alex Dovbnya
    📰 News

    Tuur Demeester wants you to buy the dip as Bitcoin touches the support of its parabolic uptrend for the first time since March

Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester
Cover image via u.today

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.

Tuur Demeester of Adamant Capital has just taken to Twitter to calm down Bitcoin enthusiasts who might have been swayed by incredibly bearish sentiment on crypto Twitter. 

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Bitcoin Price Slashed to $6K. Is This Best Black Friday Sale?

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Bitcoin recently dropped to $6,800, its lowest level since early May. However, Demeester apparently sees this as yet another opportunity to buy the dip. He states that top coin's parabolic uptrend that started at the beginning of 2015 hasn't been violated. However, Bitcoin has tapped support for the first time since March when Bitcoin was trading well below $4,000. 

Shortly after printing a huge red candle on the logarithmic chart, the Bitcoin price spiked by 20 percent on Apr. 2, which started the coin's massive run to $13,700. 

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Crypto Analyst Doesn't Expect Bitcoin Price to Repeat Past Halvenings

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As of now, BTC is down by nearly 50 percent from its yearly high, but this might not be the end of the nightmare for Bitcoin bulls. According to trading exert Josh Rager, the crypto king could plunge below the $7,000 level again after a fakeout to the $7,500 range. 

Gold bug Peter Schiff recently predicted that BTC could collapse to $10,000 level after competing the head-and-shoulders pattern.  

At the time of writing, BTC is sitting $7,313, CoinStats data shows. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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