ETH, XRP and BCH Price Analysis for Sept. 15

Price Predictions
Tue, 09/15/2020 - 14:06
Denys Serhiichuk
Can any of the altcoins outperform the rise of Bitcoin (BTC)?
ETH, XRP and BCH Price Analysis for Sept. 15
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.

Contents

Most of the coins have followed the bullish mood of the market, however, there are some exceptions. Mainly, Chainlink (LINK) and Binance Coin (BNB) are the only losers among the Top 10 cryptocurrencies.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The key data for Ethereum (ETH), XRP and Bitcoin Cash (BCH) today:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Ethereum 

ETH

$42,322,833,036$375.83$18,876,442,9780.47%

XRP

XRP

$11,147,301,746$0.247485$1,940,522,6530.66%

Bitcoin Cash

BCH

$4,363,353,604$235.62$3,484,976,4364.22%

ETH/USD

Yesterday, Ethereum (ETH) buying volumes exceeded average and, during the day, buyers retraced the price from the 2HEMA55 to an uptrend. In the morning, volumes decreased; therefore, it has not been possible to overcome the green trend line yet.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

If buyers continue the bullish onslaught, then they can test the target level of $400 and gain a foothold in the green upward channel. In the event that resistance at the lower border of the channel reverses the price downward, with low market activity, the pair may hold at the level of $360. With a jump in volatility, the decline may reach the support of $320.

Ethereum is trading at $373.47 at press time.

XRP/USD

Yesterday, buyers were able to continue recovering from the level of average prices and came close to the resistance of $0.25. On the daily time frame, the Stoch RSI indicator lines show potential for the continuation of the recovery to the $0.265 area. Thus, the probability of a breakout of the $0.25 level is still relevant.

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

However, while we do not see a major buyer who could continue this rise, and if the pair fails to gain a foothold above the $0.25 mark, then the XRP price might roll back to the $0.23 support.

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In the event of strong bearish momentum, sellers can break through the September low level and renew it to the support area of ​​$0.213.

XRP is trading at $0.2468 at press time.

BCH/USD

Bitcoin Cash (BCH) is the main gainer today. The rate of the altcoin has increased by 4.22% since yesterday, while the price change over the last week has risen +6.22%.

BCH/USD chart by TradingView
BCH/USD chart by TradingView

On the daily chart, Bitcoin Cash (BCH) has just started getting out of the consolidation phase after bouncing off the support at $205. The trading volume remains low, which confirms the high potential of a false breakout rather than continued growth. The falling lines of the Bollinger Bands indicator support such a scenario. To sum up, the local peak to which bulls may move the rate is $245.

Bitcoin Cash is trading at $235.66 at press time.

 
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 & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.