TOP 3 Price Analysis: BTC, ETH, XRP — Last Moves Before New Heights

Price Predictions
Tue, 05/19/2020 - 14:15
Denys Serhiichuk

Can Bitcoin (BTC), Ethereum (ETH), and XRP show similar trading tendencies?

Cover image via www.tradingview.com

Uncertainty remains on the cryptocurrency market despite the recent bullish mood. Neither bears nor bulls are dominating at the moment. Currently, the top gainer is Binance Coin (BNB), whose rate has risen by 2.79% over the past day.

Top 10 coins by Coinstats

The important data for Bitcoin (BTC), Ethereum ETH), and XRP are as follows.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$177 844 301 318

$9 675.49

$40 154 591 162

-0.48%

Ethereum

ETH

$23 589 187 229

$212.53

$14 949 868 049

-0.58%

XRP

XRP

$9 013 883 361

$0.204337

$1 999 874 790

0.09%

BTC/USD 

Bitcoin (BTC) has lost 0.3% over the past day. However, the potential to retest $10,000 remains. There are both bullish and bearish moods on the market at the same time.

BTC/USD chart by TradingView

On the hourly chart, the chief coin has remained within the Wedge pattern, which is a bullish signal. The high level of liquidity at the current zone is another reason for possible continued growth.

Related
Last Time This Bitcoin Metric Flashed Green, Investors Had 'Outsized' Returns

In this case, there is a high probability of seeing Bitcoin (BTC) trading above $10,000 within the next few days.

Bitcoin is trading at $9,646 at press time.

ETH/USD 

Ethereum (ETH) is trading almost the same way as Bitcoin (BTC). The decline over the past 24 hours has amounted to 0.17%. 

ETH/USD chart by TradingView

On the hourly chart, Ethereum (ETH) is showing bearish tendencies that are outlined by decreasing trading volume and a falling MACD indicator. What is more, there is no focused low liquidity right now, suggesting a short decline to $209 soon. If the rate drops below $200, the bearish scenario will become relevant again.

Ethereum is trading at $211.63 at press time.

XRP/USD 

XRP is the only coin out of the top 3 located in the green zone. The price of the third most popular coin has risen by 0.14% since yesterday.

XRP/USD chart by TradingView

Even though the rate of XRP has slightly risen, its short-term perspective is bearish. The Relative Strength Index indicator keeps falling. In addition, we might see a huge amount of selling trading volume, which is a bearish signal. All in all, traders can expect XRP to trade at around the $0.20 area soon.

XRP is trading at $0.2029 at press time.

 

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

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.

Top 10 Best Cloud Mining Sites in 2020
TOP 20 Best Bitcoin Trading Bots in 2020

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy