Stavros Georgiadis

Ethereum Price Prediction for December: An Upward Retracement Is Underway

November 2018 was a tough month for Ethereum as the sharp decline in the Bitcoin price was a general one for the major cryptocurrencies
Ethereum Price Prediction for December: An Upward Retracement Is Underway
Contents

November 2018 was a tough month for Ethereum as the sharp decline in the Bitcoin price was a general one for the major cryptocurrencies, and ETH fell from the price of $208.88 on Nov. 5 to $104.40 on Nov. 27. Ever since in December 2018, there is a retracement already underway.

We will focus on a price prediction for Ethereum, especially for December, and also make an ETH price prediction for today​​ based on technical analysis. Can this 50% decline from November 2018 reverse and pause, or will there be a continuation of the downtrend?

As always, any Ethereum price predictions have the element of uncertainty and risk, and they are not investment recommendations, but rather the result of financial analysis.

Ethereum price forecast

Here are some Ethereum predictions and Ethereum forecasts by experts:

Bobby Ullery, CTO of Waysay:

“I think Bitcoin and Ethereum will share a $4.5 trillion market cap by 2020. How much could one Ether be worth? This is a little harder to calculate due to the somewhat unknown supply of Ether in the future, how Proof-of-Stake might change new Ether issuance, and the impact that the Ice Age will have on time between new ETH issuance. The original 2014 issuance model, stated a projection of ~162M ETH in circulation in 2020, however /u/manly_ pointed out that Vitalik has said it would be closer to 100M, so for our rough math we’ll use 100M ETH.$1,137,500,000,000 divided by 100,000,000 = $11,375 per coin, ~+4,000% from today.”  

Nigel Green, CEO of deVere Group:

The price of Ethereum is predicted to increase significantly this year, and could hit $2,500 by the end of 2018 with a further increase by 2019 and 2020.This general upswing will be fueled by 3 main drivers. First, more and more platforms are using Ethereum as a means of trading. Second, the increased use of smart contracts by Ethereum. And third, the decentralization of cloud computing.”

Alexis Ohanian, Co-Founder of Reddit:

“I’m most bullish about Ethereum simply because people are actually building on it. It’s still early days, but you know, we’ve got a few CryptoKitties.
It’s easy to laugh at, but I think the first version of so many things looks like a toy and often has something to do with cats. It’s because the Internet loves cats. At the end of the year, Ethereum will be at $1,500. Great, now people can call me out if I’m wrong.”

Ethereum is now the third largest cryptocurrency by market capitalization
Ethereum Image

All these experts appear to be bullish and optimistic about ETH’s price prediction for 2018 and beyond, up to the year 2020. Next we will analyze our Ethereum forecast for the rest of 2018.

Ethereum price prediction December

In November 2018, the price of Ethereum most likely fell due to the selloff from ICOs. The majority of analysts in the cryptocurrency sector have attributed the decline in the price of ETH to the selloff of ERC20 blockchain projects that have raised millions of dollars in ETH in their token sales.

As the price of ETH started to fall and the cryptocurrency market entered a major bear market, analysts said that ERC20 projects started to sell their ETH holdings, causing ETH to experience a more intense downtrend than other major cryptocurrencies. Thus, it is very evident that the decision of ERC20 projects on Ethereum to sell large amounts of ETH in panic largely contributed to the downtrend of ETH. What are our own ETH predictions? Our technical analysis will be based on the price action for the past month.

Ethereum infographic on blockchain
Ethereum and decentralized networks

Ethereum price prediction end year

Before our technical analysis section about Ethereum prediction 2018, a few business arguments in favor of the price increase in the future are as follows:

The reasons behind the rise of Ethereum are plenty. Ethereum is used as a platform these days by a wide variety of ICOs as well as other cryptocurrencies.

Moreover, there are quite a few companies which are solely working on the Ethereum blockchain rather than the Bitcoin-based blockchain.

The underlying technology seems to be strong as well. This is the reason why the Ethereum predictions for 2018 as well as thereafter are positive. So, let’s explore this question further.

Ethereum price prediction 2019

Long-term price Ethereum forecast chart
Ethereum forecast for 2018 and 2019

As seen from the chart above, it is not easy to make any Ethereum projection about its future price. Any ETH forecast entails a very large degree of error. An Ether price prediction can be based, however, on more conservative price levels that are supported by business news and developments such as the arguments mentioned above. In our technical analysis section below, our Ethereum price projection will be a very conservative one.

Ethereum forecast today

Ethereum forecast 2018
Ethereum weekly chart

This weekly chart shows that anybody who would have been bullish about the Ethereum in 2018 would have been proven wrong, as the price collapsed from $1390 in January 2018 to $107.23 in November 2018, a decline of 92.30%. What is the forecast for next year?

Ethereum price prediction
Ethereum daily chart

As with Bitcoin price prediction today, any price prediction is very difficult, as news that may have a large impact on cryptocurrency prices is very hard to predict. Still, here is our Ethereum forecast for December 2018.

Ethereum technical analysis for December 2018

The daily chart of Ethereum (ETHUSD) does not seem very bullish, as there is a very strong downtrend in place, supported by the high values of the ADX/DMI indicator. The value of the ADX line is above 43, signaling a very strong trend. Usually, values above the 25 level indicate a strong trend. These are some of the key points in our technical analysis on Ethereum.

·    Stochastic indicator (14,3,3) is at oversold levels below the 20 level, but still shows no signs of trend reversal. In fact, a few days ago it made a bullish crossover as price bounced from $104 to $126, but it was a short-term bounce as price is now trading at $108.

·    MACD indicator is still at negative values, and although its histogram diminishes, pointing to a possible trend pause, it has not made any bullish crossover yet.

·    Daily Bollinger bands are at $191.72 and $82.30 for the upper and lower band respectively, having expanded significantly. This high volatility may be followed by less volatility and a mean reversion to the 20-period daily moving average at $138.

·    The price is below the daily 20-period and 50-period exponential moving averages respectively at $136.55 and $170.87. Both moving averages are pointing down indicative of a strong downtrend.

·    There are no obvious levels of support other than the recent low price at $102.10.

·    Former levels of support will act as resistance, and one important level is near $172.50, where 50-period daily EMA is now at $165.70 and at $188.40.

·    Fibonacci analysis is taken as a high price of $225.56 and a low price of $102.09 from November 7, 2018 to November 25, 2018, showing that the 0.5 and 0.618 retracement levels are $163.07 and $177.46 respectively.

·    Given the strong downtrend we estimate that a bounce is possible up to the price level of $125.00-$150.00.

·    If the support of $102.00 is breached, then there are no previous support levels and the price can move significantly lower.

·    Another factor to consider is that December is typically a month with reduced liquidity as it is a holiday season, and potential spikes in price could occur.

·    Due to the correlation that exists with Bitcoin price collapse, and in general the decline of major cryptocurrencies in November, any Bitcoin bounce to higher levels could also drive higher the price of Ethereum in December 2018. The current price of Ethereum as of December 3, 2018 is $108.18.

Conclusion

The crypto market has been suffering a severe decline in the last quarter of 2018. But the last month of the year looks bright for Ethereum, as the HTC Blockchain Phone Exodus 1 is getting ready to ship in December, which is only accepting Bitcoin and Ethereum cryptocurrencies.

Ethereum enables developers to build smart contracts, and this is a positive factor as it has plenty of business potential. Will Ethereum rise or fall in December 2018? It’s a hard answer to give and prediction to make. The recent downtrend is strong. Still, it is too early to make a call for the bottom price of Ethereum as the year ends. But a moderate uptrend during the remainder of 2018 is probable.

We estimate that, due to the liquidity diminishing as we get closer to the Christmas holiday season, a moderate move up to the price level of $125-$150 is possible. The cryptocurrency has fallen significantly, and while we favor trading with the trend, a dominant downtrend with the possibility of a moderate move up is our basic scenario for the rest of December 2018.

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David Dinkins

Ripple Will Not Be Next Bitcoin, But That’s Not Bad

Ripple will not be the next Bitcoin, but it could still be wildly successful
Ripple Will Not Be Next Bitcoin, But That’s Not Bad

Voltaire famously wrote that the medieval Holy Roman Empire was neither holy, nor Roman, nor an empire. In the same way, at least according to the MIT Technology Review, Ripple is neither decentralized nor a currency. But lest we judge it too harshly, it’s wise to remember that it was never intended to be either.

Next Bitcoin?

For years, cryptocurrency languished in obscurity. Assuming they didn’t make too many missteps along the way, early adopters of Bitcoin became millionaires. Many of those who were a little late to the Bitcoin party became early adopters of altcoins, and also became millionaires. Now that crypto has burst into the mainstream and made many people fabulously wealthy, crypto newcomers are desperate to pick the next Bitcoin. Every new investor seems to think if they can buy a digital asset for less than a dollar, they’ll become ridiculously rich when that asset eventually hits $10,000, as Bitcoin did.

While it can’t be definitely said that there isn’t another nascent Bitcoin waiting in the wings somewhere, if there is one, it certainly isn’t Ripple. The currency’s wild ride last year made it the best performing crypto asset in a year of incredibly well-performing cryptocurrencies. Ripple ended the year up by 38,000 percent. No, that’s not a typo.

Those who invested before last summer are all incredibly wealthy now, even after Ripple dropped back under $1. Nonetheless, an important fact remains.

Ripple is not the next Bitcoin.

Different animal

Ripple is something entirely different. While Bitcoin seeks to be a decentralized, peer-to-peer means of digital value exchange with a strong anti-establishment bent, Ripple does not. In fact, Ripple is almost the opposite- it’s highly centralized and extremely friendly with big banks. There’s a good reason for this: Ripple doesn’t intend to be a currency used by ordinary folks buying coffee. Ripple wants to be used by banks to move large numbers of very big transactions each day.

Ripple is an extension of a system banks already know and understand. Ripple is a centralized company whose network relies on “trusted” servers. Banks are cool with that because that’s what they understand. Ripple has premined all 100 bln coins and keeps the remaining 50 bln in escrow, which is fine, because that’s what big companies understand. Companies are used to an IPO where large numbers of shares are created all at once, from nowhere, and distributed to investors. They can understand premines, too.

As the MIT Technology Review states:

“Ripple’s big bet is that XRP will become a ‘bridge currency’ that many financial institutions use to settle cross-border payments faster and more cheaply than they do now using global payment networks, which can be slow and involve multiple middlemen. Bitcoin could be used to do this too, but Ripple can settle 1,000 transactions per second, compared with Bitcoin’s seven, and its transaction fees are much lower.”

Ripple without XRP

The MIT Technology Review also notes that unfortunately for Ripple investors, while its technology is popular, Ripple’s XRP token is not:

“Here’s the catch, though: Ripple’s Blockchain-based payment network doesn’t need a bridge currency to work, and nearly everyone using the network has so far chosen to exchange digital IOUs instead.”

This could certainly change, and CEO Brad Garlinghouse has hinted that it will, but for now, XRP is a fairly speculative play. Ripple is not another Bitcoin, but if everything goes really well, it could be another SWIFT or Visa. The only remaining question is whether the company’s bank customers will use the native XRP token, or settle in dollars as they currently do.

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Bitcoin Fights Strong Resistance, Ethereum Tries to Break Out of the Triangle, Ripple Pulls Back: Crypto Price Analysis, Sept. 3, 2018

Last week was bullish for crypto market, but there is room to go higher
Bitcoin Fights Strong Resistance, Ethereum Tries to Break Out of the Triangle, Ripple Pulls Back: Crypto Price Analysis, Sept. 3, 2018
Contents

*** Please note the analysis below is not investment advice. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of U.Today. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Bitcoin fights historically strong resistance

Over the weekend, the Bitcoin price showed us a very steady grind upwards and because of it, there was a steady growth on the altcoins list.

Currently, the BTC chart shows us that we are on the strong resistance area which is $7,286-$7,349. From here we expect a little pullback or the price stop just a while and if we break this area then our short-term target would be around $7,500.

$7,500 target criteria:

* Fibonacci pulled from July 24-Aug.14

* Round number

* Trendline since May 5

* Fibonacci extensions (entry point Fibonacci's)

* Round number and Fibonacci retracement level are just SO identical.

image

Let's talk a little bit about the current pullback. At the moment the price is above the minor trendline which is pulled from the wicks. It makes for us an upward channel, the price may go inside this channel and the first bigger retest area is around $7,000.

There we can find a May low which works as a support, round number and in the four-hour chart, we could see that the 50 EMA starts to work as a support. If it drops lower, then our next support is around $6767 which is historically worked level and there is also our last trendline. This has to hold us, if not then we go definitely test the lower levels.

Ethereum still in symmetric triangle

The current situation on the ETH chart shows us that, after the bounce upwards from our mentioned level, we tried to break outside the triangle and tried to break the round number $300 but this attempt was unsuccessful. ETH price was very close to make a breakout but we didn't find much power to hold the price above the $300.

image

Luckily, we had something positive on the ETH chart- ETH price structure made a small higher high which indicate that we are still on the rising mode and now the pullback definitely have to hold us over the blue support line if we want to stay bullish (marked as Strong Area). We know that soon we will see some bigger action on the Ethereum chart because we are on the triangle tip where the price is 'pushed ' together and soon it will launch. At the moment definitely don't trade this and wait for a breakout from the triangle. Breakout from triangle means short-term Ethereum direction and breakout is confirmed when we have at least a four-hour candle outside that area.

Ripple (XRP) takes down the minor downtrend line

If we take a look Ripple chart, then we could see that over the weekend we managed to break above the minor down-trendline since July 4, 2018 and currently we make pullback to retest the trendline. It could mean that if the market starts to show us some potential to go higher then Ripple have a nice starting platform to do exactly the same.

image

Currently, on the four-hour chart, Ripple price has found a support from 50 and 100 EMA's. The perfect scenario would be a retest the trendline and our climb will continue (because the textbook says- buy/sell breakouts after the retest) but we can start to climb higher only then when BTC finds the support because if BTC drops and the market cap drops then we could see again 'bloody' days on the market.

If we start to go higher then basically our next resistance is a round number $0.4.

Hopefully, this helps you out a little bit to confirm your own analysis.

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Andrew Strogoff

Bitcoin, Ethereum, Ripple, EOS, NEM Go for New Highs, Bulls Becoming Stronger: Price Analysis, July 9

Bitcoin and altcoins develop their bullish trends, major cryptocurrencies still look promising
Bitcoin, Ethereum, Ripple, EOS, NEM Go for New Highs, Bulls Becoming Stronger: Price Analysis, July 9
Contents

Bitcoin and other major cryptos continue to rally as they have reached new highs on weekend. General market moods remain positive and cryptos from the top 20 seem to be ready to make new tops. Psychologically, bulls are winning currently as bears have no chances to reverse the situation.

As for the news, there are no drivers in the moment of writing, but we want our readers to pay attention to some interesting facts. European’s ETF giant launches ETN. This is an Exchange trading note, which is similar to Exchange trading fund, but have some specifics. Crypto community, by the way, expects Bitcoin ETF’s in the nearest future.

Another great news comes from Switzerland where local stock exchange owner SIX launches their own crypto exchange. This company promises to traders to give them a full set of opportunities in order to provide clients with high-quality service.

Bitcoin (BTC/USD) price analysis, July 9

BTC/USD had almost nor gains neither losses in the past 24 hours as the currency pair declined for less than one percent. However, in general, the situation is promising as the main cryptocurrency established new highs during the weekend.

BTC/USD 4 Hours chart

Let’s get down to the four hours’ chart to see what’s going on with the cryptocurrency. Bitcoin has tested the supper area at $6,510 during the weekend but failed to develop its decline. We have updated the ascending trend line according to the recent price changes.

Bitcoin went upwards later and BTC price jumped over the resistance area at $6,701. BTC/USD stays above this level currently, but still unable to make any further upside steps. We think that the currency pair is going to grow today again as we have a clear bullish flag pattern on the chart.

The next target for Bitcoin growth lies at $6,943. BTC price is likely to reach this area within one-two days approximately. However, if bulls are more active, they will be able to develop their progress and to reach even higher tops.

As for the alternative scenario, if sellers gain temporary control over the market, they will be able to press the currency pair down towards the support area at $6,510.

Ethereum (ETH/USD) price analysis, July 9

Ethereum makes smooth losses in the past 24 hours, but the currency pair still looks very promising as it established new highs during the weekend. We have adjusted the ascending trend line in order to make it more appropriate to the current situation.

ETH/USD 4 Hours chart

Wha can we see on the four-hour chart? The first thing that is clear is that ETH price goes along the green ascending trend line. This fact indicates the probability of further upside tendency. ETH price reached the trend line on the weekend but jumped over the resistance area at $473.39 and went higher later.

Currently, we have some kind of a flag pattern on the chart, but it is not a classic pattern analysis flag that we used to trade. However, psychologically, this one is a consolidation after a bullish momentum and may lead to another significant price burst in the nearest future.

As for targets for this growth, we think that Ethereum is likely to reach $540.69 in the nearest future. However, the closest target is the resistance area at $500.36.

Is there any alternative scenario? If bulls are unable to drive ETH/USD higher than bears will push it lower. We think that Ethereum will run lower in this case, targeting the support area at $543.29.

Ripple (XRP/USD) price analysis, July 9

Ripple looks less promising than other majors as the crypto failed to establish new highs during the weekend. The currency pair has lost more than two percent in the past 24 hours. The currency pair has broken through the ascending trend line and moved lower. It is hard to say currently whether Ripple is going to resume its uptrend in the nearest future.

XRP/USD 4 Hours chart

The situation on the four-hour chart is neutral as there is no tendency currently. Ripple failed to jump over the resistance area at $0.5088 during the weekend. The currency pair tested the support area at $0.4744 instead.

We have set upper targets for Ripple at $0.5444, but currently, we cannot say that XRP/USD is able to reach them in the nearest future as the uptrend was broken. The lower targets are set at the support area at $0.4495, but Ripple will have to breakout the closest support area at $0.4744 in order to reach it.

EOS (EOS/USD) price analysis, July 9

EOS seems to be neutral on Monday as the currency pair has no clear direction. EOS has lost more than four percent in the past 24 hours. We have readjusted the trend line to make it appropriate to the current situation.

EOS/USD 4 Hours chart

EOS has almost reached the resistance area at $9.03 during the weekend but later the currency pair declined towards the ascending trend line. It stays in the middle of the horizontal channel in the moment of writing.

We think that EOS is going to stop declining there and after meeting the ascending tend line, the currency pair is likely to resume its growth. EOS/USD’s first target is at $9.03. If bulls are able to drive the currency pair higher, EOS is likely to reach the next resistance at $9.56.

As for the alternative scenario, we think that according to the current situation, bears have the same chances to push EOS downwards. The closest support area is at $8.29. As for targets, they may be even lower at the next support area at $7.65.

NEM (XEM/USD) price analysis, July 9

NEM has no clear direction currently, but we think that the currency pair is likely to resume its uptrend according to the chart situation in the moment of writing. We have adjusted the trend line and it shows the situation better in the moment of writing.

XEM/USD 4 Hours chart

There is a bullish pattern on the four-hourchart and we think that bulls have chances to drive the currency pair higher. XEM price is close to the ascending trend line and if it jumps off it, the price is likely to reach the closest resistance area at least.

We have set bullish targets at $0.2121, but the price will have to jump over the closest resistance area at $0.2002 first. However, if this bullish pattern does not work, the bears will regain control and will be able to push the currency pair lower. The closest target for the decline lies at $0.1682.

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Ethereum, Ripple and Litecoin Reach Growth Targets, While Bitcoin Hesitates

Bitcoin consolidates around $8,000, giving investors some time to enjoy altcoin growth
Ethereum, Ripple and Litecoin Reach Growth Targets, While Bitcoin Hesitates
Contents

The market is growing, Bitcoin is not. This short phrase is enough for an exhaustive description of the current situation. If you just look at the price of the main asset, growth is not apparent: most investors expected a reprise of the winter scenario when Bitcoin set the direction of the movement initially and altcoins entered the game a month later. Now we see the opposite situation and, most likely, the profits earned on the growth of other assets will eventually become fuel for the heavyweight Bitcoin.

Internal resources for growth can’t last forever

Meanwhile, the primary cryptocurrency is losing ground: while the market capitalization grew by another $20 bln in 24 hours (up to $360 bln),

BTC dominance fell to 38.5 percent. One and a half percent is a record daily decline in this indicator since the beginning of the year. This leads us to believe that growth is supported in large part by money which is already in the market, rather than an inflow of "fresh blood."

When the last signs of FUD (which are already fading out) finally give way to a positive informational background, we will see another rally, funded by the resources of new investors.

BTC/USD

Bitcoin has not yet earned back the love of investors, the best confirmation of which in the cryptocurrency market are, of course, volumes- they remain at an average level. Therefore, the buyers only managed to fulfill the minimum goal set for yesterday, keeping the price above $8,200. At $8,380 there is a mirror resistance level, which exerts more pressure on the asset than we expected. After overcoming this level and breaking the “double top” pattern, the bulls can test their strength in reaching the next target range of $8,600-$8,700.

BTC / USD, Bitfinex, 4 Hour Chart

Keeping in mind the presence of a manipulator in the market, the price movements described above could be called “small potatoes,” although out of respect to the oldest asset, the official term is “organic growth.” At any moment, we could see a long green candle (like the one that turned the market around on April 12), or a red one with a length of $500-$700.

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During the weekend, the prospective target for buyers is the interval of $9,200-$9,300, coinciding with a strong mirror resistance level. However, it is quite likely that some investors will decide to book profits at the psychological mark of $9,000. In case of negative developments, Bitcoin can fall back to the nearest resistance at $7,800-8,000. We also continue to keep in mind the level of $7,500, but the likelihood of reaching it has diminished since yesterday even more.

ETH/USD

As we expected, the prolonged lateral trading in the range $490-$530 ended with Ethereum’s growth to the first of its short-term goals - $580. The error was less than one percent, as the previous day's high was in fact $588, followed by the expected fallback.

ETH / USD, Bitfinex, 4 Hour Chart

With the bullish sentiment still prevalent on the market, the depth of the fallback should not be too great- according to our estimates, buyers will find support at the 0.382 value of the Fibonacci grid, at $555, and the minimum price in the near future should not fall below $530.

Even in that case, the аscending channel will not be broken. The next target for the bulls has not changed- it's $615, and under favorable circumstances, it can be reached within the next few days.

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XRP/USD

We invite our readers (especially those, who follow our recommendations) to celebrate- another goal has been executed with perfect accuracy. By the end of the week, Ripple has reached $0.75 and $0.86 and now deserves a break for the weekend. For continued growth, the asset will probably need to stay at lower levels for a bit.

XRP / USD, Bitfinex, 4 Hour Chart

It is possible that after breaking the ascending channel, the price will form a bullish pennant when it is retested. This will allow for the continuation of upward movement, with the goal clearly visible now at $0.95. However, the asset is already looking overbought, so the correction to the range of $0.79-$0.77 is more likely.

Growing volumes confirm that Ripple is not forgotten, and investors can expect to see good profits in the medium term.

LTC/USD

We conclude our review with the chart of Litecoin, which did not fail us and has gracefully moved through the ascending channel to the $150 mark. In accordance with market law, the asset must now cool down a bit, and it will be doing so around $142.

LTC / USD, Bitfinex, 4 Hour Chart

Given certain fundamental problems, in the context of a Bitcoin correction, its younger brother is risking a test of lower levels and the boundary of the ascending channel. In price terms, this is $137. And if the market continues to grow, then the next stop, theoretically, can be at $160.

Let's not forget that Litecoin is a dependent asset and does not possess the self-sufficiency of Ripple, for example. So, if our readers really want to trade it, they must carefully monitor the situation in the market as a whole.

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Bitcoin, Ethereum, Litecoin, EOS Bounce Back, Ripple, NEM Hovering: Price Analysis, June 15

Bitcoin and most altcoins bounce back after a sharp fall, have positive outlooks in short-term
Bitcoin, Ethereum, Litecoin, EOS Bounce Back, Ripple, NEM Hovering: Price Analysis, June 15
Contents

Bitcoin and altcoins develop their corrections and establish new local highs. It is hard to say now whether this tendency is mid-term or short-term as experts have different opinion on the reasons of this huge downtrend that we can see in midterm.

Some experts think that this significant crypto market decline is the result of 2017’s cryptocurrencies hype and now the price is trying to find its balance.

Another opinion about this huge downtrend is that the US regulatory body, CFTC requires transactions data from major US cryptocurrency exchanges.

Anyway, the general situation in this industry indicates on the probability of further decline of all cryptos.

Bitcoin (BTC/USD) Price Analysis, June 15

Bitcoin (BTC/USD) Price analysis, May 25

Bitcoin added more than one percent in the past 24 hours. The currency pair bounced back the support area at 3.618 retracement level and started its upside tendency this week. BTC/USD established new highs on Thursday/Friday.

Bitcoin (BTC/USD) Price analysis, May 25

Let’s get closer to the current situation on the hourly chart. The currency pair ran upwards on Thursday and jumped over the resistance area at $6,510. BTC/USD moved higher later and reached $6,718. However, Bitcoin failed to break through this level. The possible ways for Bitcoin are the following:

  1. Red scenario (bearish). The currency pair will test the support area at $6,510 and if successful, Bitcoin will develop its downside move targeting the next support at 3.618 retracement level.
  2. Orange scenario (neutral). BTC/USD will stay within the current range, limited by $6,718 resistance area and $6,510 support area.
  3. Green scenario (bullish). Bitcoin will test the resistance area at $6,718 and move higher, targeting the next resistance at $6,943.

Ethereum (ETH/USD) Price Analysis, June 15

Ethereum

The currency pair has added more than four percent in the past 24 hours. Ethereum develops its upside corrective movement. The currency pair has found support on Wednesday and established new highs on Thursday. ETH/USD still has a positive outlook in short term.

Ethereum

Let’s see closer what is going on the hourly chart. The currency pair has broker through the resistance area at $500.36 and moved higher. However, ETH/USD failed to reach the next resistance area at $540.69 and returned to $500.36. The possible ways for Ethereum are the following:

  1. Red scenario (bearish). The currency pair will break through the current support area at $500.36 and move lower, targeting the next support at $473.39.
  2. Orange scenario (neutral). Ethereum will stay within the current price range, limited by the resistance area at $540.69 and the support area at $500.36.
  3. Green scenario (bullish). ETH/USD will test the resistance at $540.69 and if successful, will go higher, aiming at the next resistance area at $566.90.

Ripple (XRP/USD) Price analysis, June 15

ripple

The currency pair has lost less than one percent in the past 24 hours. Ripple develops its upside correction currently but fails to grow significantly as the currency pair fluctuates almost on the same levels on Friday as compared to Thursday.

ripple

Let’s see closer what is going on the hourly chart. The currency pair has reached the resistance area at $0.5643 on Thursday, but failed to develop the progress and retreated towards the support area at $0.5444. Ripple stays there currently. The possible ways for Ripple are the following:

  1. Red scenario (bearish). The currency pair will break through the support area at $0.5444 and move lower aiming at the next support area at $0.5088.
  2. Orange scenario (neutral). Ripple will stay within the current range, limited by the resistance area at $0.5643 and the support area at $0.5444.
  3. Green scenario (bullish). XRP/USD will rise towards the resistance are at $0.5643 and break it through. The next step for XRP/USD is to target the next resistance area at $0.5914.

EOS (EOS/USD) Price Analysis, June 15

eos

The currency pair added more than five percent in the past 24 hours. EOS develops its upside correction as it established new highs on Thursday. However, buyers were unable to develop their progress and the price retreated finally.

eos

The closer look at the hourly chart allows us to see the following situation. The currency pair has reached the resistance area at $11.41 on Thursday but later, EOS/USD declined. EOS is now in the middle of the horizontal channel. The possible ways for EOS/USD are the following:

  1. Red scenario (bearish). EOS/USD will move towards the support area and test it. If successful, EOS will develop its downside tendency towards $9.91.
  2. Orange scenario (neutral). The currency pair will stay within the current range between the resistance area at $11.41 and the support area at $10.54.
  3. Green scenario (bullish). EOS will test the resistance area at $11.41 and run higher, targeting the next resistance at $11.92.

NEM (XEM/USD) Price Analysis, June 15

nem

The currency pair added less than one percent in the past 24 hours. NEM develops its upside progress. However, buyers are still hesitating and seem to have not enough power to make a huge momentum currently.

nem

Let’s have a closer look at the situation on the hourly chart. The currency pair went above the support area at $0.2002. However, buyers were unable to develop their progress and the price is close to the support area currently. The possible ways for NEM are the following:

  1. Red scenario (bearish). The currency pair will decline below the support area at $0.2002 targeting the next support at $0.1873.
  2. Orange scenario (neutral). NEM will stay within the current range between the resistance area at $0.2121 and the support area at $0.2002.
  3. Green scenario (bullish). The currency pair will move towards the resistance area at $0.2121 and then run higher targeting the next resistance at $0.2234.

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