Thomas Hughes

Ethereum, NEO, Monero, Stellar Weekly Price Prediction – Will ETH Break Out Above $165?

💲📊The first day of the week found the crypto market in a slump losing roughly $7 billion in just one day
Ethereum, NEO, Monero, Stellar Weekly Price Prediction – Will ETH Break Out Above $165?
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The first day of the week found the crypto market in a slump losing roughly $7 billion in just one day. This is quite a big drop but probably a good thing for bullish traders. Most of the losses occurred Monday, March 3rd but since then about $2 billion came back into the market. As expected, most of the top coins are in the red, but since volumes are slowly picking up it is possible, we’ll see the top-ranked tokens resume their new uptrends. The question is when.

Ethereum (ETH) Price Analysis

Currently fluctuating between $129 and $130 Ethereum is still holding second place with a market valuation of $13,599,508,394. It is ahead of Ripple’s XRP by almost one billion dollars and looks like it will hold its spot for now. ETH has lost 6.30% over the last 7 days but gained a timid 1.84% in the last 24 hours which shows support is still there. However, the pair seems to lack the necessary bullish pressure to stage a move higher from here, which increases the chance of a drop into the next strong support target at $105. Unless we see a quick turnaround and a move above the 100 days EMA, I expect lower prices in a week’s time.

ETH/USD chart by Trading View

ETH/USD chart by Trading View

NEO (NEO) Price Forecast

Ranked the 17th cryptocurrency by market cap, NEO is trading at 8.50 against the US Dollar having lost more than 7% over the last 7 days. The recent break of the key handle at $10 seemed like a major victory for the bulls but the move above that resistance proved very short lived. The current bearish move is likely to continue into $7 area or until the Relative Strength Index (RSI) enters/approaches oversold. Candles are small and show lack of conviction from both sides so anything could happen, really.

NEO/USD chart by tradingview

NEOUSD - NEO Price Chart — TradingView

Monero (XMR) Price Forecast

Monero lost only 2.10% over the last 7 days making it one of the more resilient coins in the top 20. It is currently trading just above $48 and ranked number 13 with a market cap of $814,282,121. The pair showed some signs of bullish momentum over the last couple of months but now it has failed three times to break resistance at $59 - $60. This means that we might be gearing up for a stronger drop and an extended period of bearish price action. The first support is located in the $42 – $43 area where support is likely to cause a bounce if not a reversal.

XMR/USD chart by tradingview

XMR/USD chart by TradingView

Stellar (XLM) Price Forecast

The Stellar Lumens coin is down 1.90% over the last 7 days and had to relinquish its number 8 spot to Binance Coin. At the time of writing XLM is trading at 0.084 against the US Dollar with a market cap of $1,617,844,288. Stellar’s XLM is still in a clear downtrend printing lower lows and lower highs and recently failed, again, to breach resistance at $0.095. There are no bullish signs on the chart whatsoever so unless a news item or a fundamental event pushes this coin upwards, I expect a drop into $0.073 area in a week’s time.

XLM/USD chart by tradingview

XLM/USD chart by TradingView

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Vera Thornpike

Bitcoin Short-Term Price Analysis: $4,000 BTC Price Is to Be Hit Again. What to Expect from BTC This Week?

🤑📈Bitcoin short-term price prediction from TradingView users. Is BTC to overcome $4,000 this week? When to buy Bitcoin? Patterns and factors contributing to BTC growth.
Bitcoin Short-Term Price Analysis: $4,000 BTC Price Is to Be Hit Again. What to Expect from BTC This Week?
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Bitcoin has managed to make it to $4,000 but didn’t hold long. What will be its next steps? Will BTC reach new heights, or is its short-term success to be eclipsed by another bearish trend? tradingview users share their outlook on Bitcoin’s nearest future.

BTC is going through ABC correction

Bitcoin is through ABC correction

Bitcoin price chart from botje11

According to user botje11, Bitcoin seems to be going through ABC correction. So far, it has been moving towards the $4,200 neckline again. Volume is moderate, but not bad. It looks to be developing normally within what looks like a right shoulder. Since December 2018, it has been attempting to form an inverse H&S pattern.

Here’s what botje11 writes:

“In a short term, we want to see something like the chart on the left. Making a bigger bull flag here. So touching 4000/4020 again and then retest the support one more time around 3950/40. If we see this happen without any strange moves, chances will be very high to see an attack of the 4200. As you know from my previous analysis, that if we see a touch of 4200ish, even when seeing a rejection there at first, i am quite sure it will break eventually. In this scenario, 4000 should be the low after touching the 4200ish.”

If we manage to move up above 4000/4050, the volume should increase. To witness positive changes, the rally should be bigger than before. The real volume jump can be postponed until a break of the $4,200 level. But then it has to be enormous. Seems like traders aren’t willing to wait anymore.

Short-Sale Structure pattern is here

We are likely to see Bitcoin falling to a support line

Bitcoin price chart from CryptoManiac101

According to CryptoManiac101, up to date, we are witnessing a clear follow through with our Short-Sale Structure pattern. It means there’s a 90% chance of a flash dump or drop towards supports. However, crypto is a very volatile matter, and we might see an upward movement into the next week. At the moment, there’s no clear BTC/USD trade set up.

There’s the third successive buy signal

Prepare to buy BTC at $4,100

Bitcoin price chart from TradingShot

Bitcoin gives another buy signal for traders. Look at the pattern: 4H Channel Up within a 1D Ascending Triangle. The signal seems to be bullish in the Higher Low zone. Prepare to buy BTC at $4,100 higher high and sell on $4,190 when Ascending Triangle Resistance forms.

BTC is to fall to $3,300

BTC might fall to $3,300 and lower soon

Bitcoin price chart from MrRenev

Some users don’t share the optimism around Bitcoin’s future. For example, the user nicknamed MrRenev believes that BTC is to fall to around $3,300 in 7-10 days.

Here’s what he writes:

“After a dead cat bounce and the usual victims that regulators try so hard to protect - no matter how much that hurts the legit traders like me - and that lose no matter how many rules aka wheelchair training wheels are set in place to help them out, will ONCE AGAIN call the bottom, buy the dip etc - which should last let's say 3-5 days, the price will then fall more than 1/3 in a matter of days. We will then bottom at 1500-2000 we might get there fast or after a bounce a little higher and momentum slowdown follower the 33% loss in 2-3 days.”

Why should it be so? MrRenev bases his prediction on the fact that the Chinese government doesn’t like Bitcoin and might do everything to suppress it. BTC will be under risk after rejecting resistance twice and run into the next resistance which is $4,200-4,300. The user is sure that the chances of a bull run is minimal.

After breaking resistance, Bitcoin is through the uptrend. Judging by predictions from TradingView, it's more likely to rise than return to the $3,500 level or lower. Keep tabs on the new resistance level. $4,050 will be a new BTC price threshold and an entry point for traders.

BTC/USD price chart on TradingView

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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