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BTC, XRP and ADA Price Analysis for February 18

Price Analysis
Fri, 02/18/2022 - 15:13
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Denys Serhiichuk
Have bulls accumulated enough energy for a bounceback?
BTC, XRP and ADA Price Analysis for February 18
Cover image via www.tradingview.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.

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Bears have continued their pressure as all of the top 10 coins remain in the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday morning, the two-hour EMA55 failed to hold back the onslaught of the bears, and the price of Bitcoin (BTC) sank below the average level. In the second half of the day, the selling pressure intensified and the pair broke through $42,450. By the end of the day, the rapid decline stopped in the psychological support area of ​​$40,000.

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

This morning, sales volumes have decreased, and the BTC price has rebounded to the $40,700 area. On such small volumes, one should not count on a significant recovery.

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BTC, BNB, ADA, AVAX, SOL and LUNA Price Analysis for February 16

If the bears resume the onslaught again, they can break through the psychological level of $40,000 and roll back the price to the area of ​$​38,500.

Bitcoin is trading at $40,411 at press time.

XRP/USD

Yesterday morning, in the area of ​​average prices, buyers failed to seize the initiative from sellers. The decline in the price of the flagship cryptocurrency caused the XRP/USD pair to fall below the strong support of $0.80. At night, the price of XRP pierced the level of $0.77, at which the fall stopped.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

Over the past night, buyers have slightly restored the price, but the volume of purchases is now too small, and it is not yet possible to break through above the level of $0.80. If buyers can form a bullish momentum, the pair will be able to consolidate above the $0.80 level.

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BTC, ETH and XRP Price Analysis for February 15

If the bearish pressure continues, then the price of XRP may roll back to the support of $0.70.

XRP is trading at $0.7785 at press time.

ADA/USD

Cardano (ADA) has followed the drop of Bitcoin (BTC), going down by 3.85% over the last 24 hours.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Cardano (ADA) could not fix above the zone of the most liquidity at $1.064, having confirmed the sellers' power. If buyers cannot seize the initiative within the next few days, there is a high chance to see the continued drop to the support level at $0.917 shortly.

ADA is trading at $1.021 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 makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.