TOP 3 Price Analysis: BTC, ETH, XRP — Is Ongoing Growth Last One Before Sharp Drop?

Price Predictions
Thu, 06/18/2020 - 14:13
Denys Serhiichuk
Where will the growth of Bitcoin (BTC), Ethereum (ETH), and XRP stop?
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.

Cryptocurrencies are continuing to consolidate: the leading asset is squeezed in a 'Triangle' pattern, and only a breakout through $10,565 would indicate a continued rise to $13,865. Cardano (ADA) remains the only gainer today. However, growth has slowed since the start of the day. It has amounted to 0.24% over the past 24 hours.

Top 10 coins by Coinstats

The key data for Bitcoin (BTC), Ethereum (ETH), and XRP is below.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$173,571,933,428

$9,429.14

$19,316,004,221

-1.01%

Ethereum

ETH

$25,975,421,467

$233.17

$7,369,548,080

-0.71%

XRP

XRP

$8,486,449,116

$0.191750

$1,175,902,388

-3.22%

BTC/USD 

Bears continue to hold resistance at around $10,000. Now the Triangle pattern is being formed on the daily chart of the asset. The main trading idea still involves a breakdown of the lower border with a continued decline to $6,320 as part of the model refinement. An additional signal in favor of this option would be a rebound from the downtrend on the RSI indicator.

BTC/USD chart by TradingView

A breakdown of the support level and the price holding below $8,555 would also suggest a drop. If the coin breaks out of the upper boundary of the Triangle model, there could be continued growth to the first target at $11,900.

Bitcoin is trading at $9,391 at press time.

ETH/USD 

Yesterday, Ethereum (ETH) was at $230, setting a daily minimum at $227.56. By the end of the day, the pair recovered to the support at $233.33. During the Asian session, trading volumes were below average and the pair was unable to continue to grow towards the POC line ($243.36). If buyers increase volumes today, the recovery might continue.

ETH/USD chart by TradingView

However, if sellers become more active in the area of ​​average prices, then they could push the price to the ​​$225 area. Even a re-test of the $222.98 level will likely not cancel the bullish scenario.

Ethereum is trading at $231.97 at press time.

XRP/USD 

XRP is the biggest loser on our list. The coin has lost 2.68% of its value over the past day. Yesterday, buyers tried to test the psychological mark of $0.20, but sellers reacted with a rather strong bearish impulse, which pierced the support at $0.19. However, this area stopped the rollback and the pair returned to the area of average prices.

XRP/USD chart by TradingView

If buyers gain a foothold above the two-hour EMA55, they will be able to break through the psychological level of $0.20. If bears dominate the market today, then the price will fall into the zone of yesterday's low.

XRP is trading at $0.1908 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.


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