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TOP 3 Price Analysis: BTC, ETH, XRP — Has the Sideways Trend Moved Towards a Bearish One?

Sun, 06/28/2020 - 18:00
TOP 3 Price Analysis: BTC, ETH, XRP — Has the Sideways Trend Moved Towards a Bearish One?
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The last day of the week is about end on a bearish note. Yet, the top coins are trying to bounce back. Bitcoin SV (BSV) has suffered the most since yesterday's drop, as the rate for the altcoin lost 6.32%.

Top 10 coins by Coinstats
Top 10 Coins by Coinstats

Below is the vital information on Bitcoin (BTC), Ethereum (ETH), and XRP:



Market Cap


Volume (24H)

Change (24H)




















Bitcoin (BTC) continues to consolidate in the $9,000-$10,00 range despite yesterday's drop to $8,900. The rate is unlikely to go below $9,000 as the level of trading volume is low.

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

Looking at the daily time frame, the leading crypto has made the far rates of the $9,000 mark. Applying the Fibonacci retracement to the chart from its local peak to bottom, Bitcoin (BTC) is about to return to the 38.2% level, which corresponds to the $9,445 mark. Here, liquidity level is quite high, which a prerequisite for an upward movement.

At press time, Bitcoin was trading at $9,045.


Ethereum (ETH) has dropped more than Bitcoin (BTC); however, it might still come back to its resistance levels. The rate of the main altcoin has declined by 3.16% from the previous week.

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

The trading volume was low during yesterday's decline. This means that the bears are unlikely to move towards $210 and below. The bulls are currently trying to return to their previous levels around the $230 mark. The more likely price action for Ethereum (ETH) may be a retest of the 50-Day Moving Average ($232). If buyers manage to break the mark, then one might consider a growth continuation towards $250 in July.

At press time, Ethereum was trading at $222.85.


XRP has shown significantly better price dynamics than Ethereum (ETH). The price of the coin has dropped by 0.81% as compared to the previous 24 hours.

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

XRP found its local bottom at $0.1730, followed by a bounce off. As with the case of Ethereum (ETH), a continuing decline is unlikely to occur as the bears have run out of fuel. This is based on the trading volume. However, there is a reason for a growth continuation as there is a bullish divergence on the Relative Strength Index (RSI). Respectively, the growth might near its resistance level at $0.1870.

At press time, XRP was trading at $0.1778.