📈 Price Predictions

BTC Price Leaves Danger Zone, LTC Still Kicking, XRP Abandoned by Investors

  • Dmitry Cake
    📈 Price Predictions

    Don’t be fooled: early signs of market reversal could be just another bears’ trap.

BTC Price Leaves Danger Zone, LTC Still Kicking, XRP Abandoned by Investors

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.

By the beginning of Tuesday, the situation on the cryptocurrency market remains uncertain. Despite the fact that Bitcoin - the indicator of investor sentiment - is hovering near a key level with murky prospects, no tension or panic is evident in the media or on the charts. It seems that market participants have learned to accept the things they cannot change, and are now patiently waiting for a sign to either buy or sell, without showing any initiative.

Market indicators are stable, no sign of rapid change

Most positions show a slight increase in price, but after updating their lows over the weekend - this is no more than preparation for possible growth. We also find confirmation in key market indicators: the total capitalization grew just by $5 bln to $365 bln, Bitcoin dominance is consistently over 45.5 percent.

Top 10 altcoins remain calm, while Verge shows surprising growth

The top altcoins followed the main asset’s growth, increasing 1 to 3 percent. Stellar and Cardano are ahead of the market with increases of 8 and 5 percent, respectively. Beyond the top 10, there is more activity: VeChain grew an impressive 25 percent, NEM and BNB - by 10 percent. Yesterday’s leader Verge not only maintained its position, but also capitalized on its achievements, adding another 13 percent.


Bulls managed to fulfill the task that we set before them yesterday - not just to keep the price at $7,000, but to make an attempt at $7,200. There’s more good news - almost all of Monday, Bitcoin price lazily dragged along the boundary of the descending channel, but was finally able to overcome it at the end of the day. Now, the main resistance for buyers remains the range of $7,200 - $7,300.

As is often the case, good news is followed by bad news, and we do have some. The main issue of concern is growth without volume. The amount and size of transactions is incomparable to what we saw over the weekend. Since April 1, the bears have not shown their influence. Because of this, we are under the impression that big players let go of the price for a while, letting the little guys enjoy the market game.

If buyers manage to hold the price above $7,200 today, with or without significant volumes, and if we see some real action at this level, then we can start discussing a possible trend change. In this case, the next target for bulls will be the range of $7,500 - $7,700. Until then, the downtrend scenario remains relevant, $ 6,000 is still calling the bears, although their task is becoming much more difficult.


Despite Litecoin creator’s cruel treatment of his offspring, there is still life in the asset. At press time, LTC price is $120, while the day’s minimum value was $110. On the chart, we see the realized "double bottom" figure, which allowed buyers to confidently push off the support line.

Further lateral movement led to a timid break of the boundary of the nearest descending channel. If Bitcoin goes up, the first buyer target will be the level of $130, which gets a double confirmation in the form of the 0.382 Fibonacci extension and the mirror resistance.

But if the main asset continues on the path to $6,000, Litecoin price is likely to form a “triple bottom” at the level of $110 and then, if there is no rebound, sellers will move on to the psychological target of $100.


During the weekend, the price of Ripple fell to $0.45 - this is the minimum value since mid-December 2017. The problem with volumes is even more crucial for XRP than for Bitcoin. The last surge in buyer activity was in the beginning of February 2018, and since then investor interest has been falling steadily.

This is indicated by the volume profile: for several weeks, the price has been below the last level with a significant amount of transactions - $0.62, and buyers have not made any attempts at an upward break.

In case of reversal, the first major target for buyers is the range $0.59 - $0.62, which is located between the 0.5 and 0.618 values of the Fibonacci expansion and coincides with several mirror levels. With a high degree of probability, the bulls will not be able to get any further on the first attempt.

With negative developments, the rate is unlikely to drop significantly, because XRP has suffered more than most other assets. If buyers are unable to form a “double bottom” from the level of $0.45, we believe the pain limit of investors to be at $0.4.

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About the author

Dmitry is a professional trader fascinated by the opportunities that crypto industry provides. His experience is backed by writing skills and the Master's degree in Economics. Dmitry's passion is to show crypto enthusiasts how beautiful and precise the technical analysis can be.

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