TOP 3 Price Prediction: BTC, ETH, XRP — Accumulation Period Before Rise

Price Predictions
Wed, 03/04/2020 - 13:32
Denys Serhiichuk

Has the accumulation period ended for Bitcoin (BTC), Ethereum (ETH), and XRP?

Cover image via www.tradingview.com

In the midst of the last correction, by the end of last week, the quotes of the most liquid cryptocurrencies hadn't achieved their lowest values. Volatility indicators have fallen markedly. Since Monday, the total market capitalization indicator has grown and its value, at the moment, is $252 Bln.

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

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$160 032 797 164

$8 768,10

$39 702 802 020

-0,98%

Ethereum

ETH

$24 735 140 240

$224,96

$19 153 182 074

-2,46%

XRP

XRP

$10 285 423 046

$0,234937

$2 499 969 589

-0,61%

BTC/USD 

The price of Bitcoin (BTC) recently rose from the downward channel reaching the $8,950 resistance level for one coin, after which there was a rollback.

BTC/USD chart by TradingView

Bitcoin (BTC) is sitting in an accumulation phase before a potential upward move. First of all, this is confirmed by the trading volume and the impulse wave pattern.

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Currently, there are no prerequisites for price decline. In this case, the first resistance point is located around the $9,120 region.

Bitcoin is trading at $8,731 at press time.

ETH/USD 

Against the total market correction, Ethereum (ETH) appears less positive than Bitcoin (BTC). The rate of the chief altcoin has dropped by 2.46% in the past day.

ETH/USD chart by TradingView

The technical chart for Ethereum (ETH) is more bearish than that of Bitcoin (BTC). The bullish divergence on the RSI indicator has not yet formed and the trading volume index is not high enough to push the rate higher. A more likely scenario in the following days is a continuation of sideways trading in the $220-$230 range.

Ethereum is trading at $223.92 at press time.

XRP/USD

XRP quotes are moving in a general market trend. The upper boundary of the triangle has shifted. As such, there is a likelihood of continued sideways movement.

XRP/USD chart by TradingView

Even though the XRP rate hasn't fallen as much as the Bitcoin (BTC) and Ethereum (ETH) prices have, its short-term scenario is not bullish. The blue line of the MACD indicator has crossed the red line, having confirmed the presence of sellers. Moreover, trading volume remains high. Respectively, traders can expect a decline to around the $0.23 zone soon.

XRP is trading at $0.2328 at press time.

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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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