BTC, XLM, ETC, BSV Price Prediction - Has the Altcoin Season Officially Opened?

📈 Price Predictions
Sat, 01/18/2020 - 14:22
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The cryptocurrency market hasn't changed since yesterday. However, there are some coins which rates have significantly increased. Mainly, the quotes of Bitcoin Cash and Cardano have risen by 7.62% and 6.08% respectively.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The key data of Bitcoin (BTC), Stellar (XLM), Ethereum Classic (ETC), and Bitcoin SV (BSV).

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$161 404 350 401

$8 884,21

$32 752 243 653

0.58%

Stellar

XLM

$1 265 912 761

$0,063174

$694 034 910

13.71%

Ethereum Classic

ETC

$1 088 161 402

$9,36

$4 415 839 812

-8.75%

Bitcoin SV

BSV

$4 884 878 119

$268,07

$3 459 571 349

-12.29%

BTC/USD 

Bitcoin keeps trading in the range of $7,700 to $7,900 that confirms strong positions of buyers. 

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the 4H chart, Bitcoin (BTC) is located almost near the resistance zone of the Bollinger Bands indicator. Analyzing the short-term price forecast, the price might reach it, however, unlikely to fix it as the trading volume has started to decline. 

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In this case, the nearest zone is the support level of $7,500-$7,650 that might be attained soon.

Bitcoin is trading at $8,904 at press time.

XLM/USD 

Stellar (XLM) is the biggest gainer from our list today. The price of it has increased by more than 13% over the last 24 hours.

XLM/USD chart by TradingView
XLM/USD chart by TradingView

On the 4H chart, the coin has reached the 50% level of the Fibonacci retracement. In terms of the price projection, it is about to go down as it is already overbought according to the RSI indicator. In this case, the closest zone is $0.0600 that corresponds to the 61.8% level of the Fibonacci retracement. 

Stellar is trading at $0.0641 at press time.

ETC/USD 

Etheruem Classic (ETC) shows the highest growth among altcoins over the last days. Its rate has rocketed by more than 120% over the previous 3 days.

ETC/USD chart by TradingView
ETC/USD chart by TradingView

Analyzing the current growth of Ethereum Classic (ETC), it was rather a pump than a start of the bullish trend. The trading volume was high, however, it could not fix itself and started to gradually decline. The long wick of the bearish candle also confirms the inability of bulls to push the rate higher. Summing up, the support at $8.40 is supposed to be achieved until the end of January. 

Ethereum Classic is trading at $9.40 at press time.

BSV/USD 

Our earlier Bitcoin SV price forecast has justified itself as the rate went down even below the expected mark at $320.

BSV/USD chart by TradingView
BSV/USD chart by TradingView

On the 4H chart, Bitcoin SV (BSV) is still facing a correction after a sharp growth to $450. According to the technical analysis, the decline has not ended yet as the MACD indicator is still bearish. What is more, the selling trading volume keeps increasing. All in all, the descending channel is relevant until the price reaches $200 and it might happen in the last days of the current month.

Bitcoin SV is trading at $268 at press time.

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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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