TOP 3 Price Prediction: BTC, ETH, XRP — Are Bears Back or Just Slight Correction?

Price Predictions
Sun, 03/08/2020 - 14:26
Denys Serhiichuk

Should we be expecting a bounce back from Bitcoin (BTC), Ethereum (ETH), and XRP?

Cover image via www.tradingview.com

The last day of the weekend has been bearish for the whole cryptocurrency market. Recent gainer Tezos (XTZ) is the top loser today. Its rate has dropped by more than 10% in the past day.

Top 10 coins by Coinstats

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

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$158 918 178 081

$8 703.06

$36 797 910 674

-4.99%

Ethereum

ETH

$24 881 486 053

$226.17

$19 893 401 205

-8.04%

XRP

XRP

$10 047 819 384

$0.229308

$2 151 319 254

-5.79%

BTC/USD 

Bitcoin (BTC) failed to stay above $9,200, followed by numerous selling orders. As a result, the rate of the main crypto has fallen by 4.91% over the past 24 hours.

BTC/USD chart by TradingView

On the hourly chart, the chief coin is already located in the oversold area. From a technical point of view, if buyers can overcome the $8,750 level, reaching the next area of $8,800 is just a matter of time from a short-term perspective. Overall, bearish sentiments are coming to an end and there are chances that Bitcoin (BTC) will trade above $8,800 in the first days of the upcoming week.

Bitcoin is trading at $8,687 at press time.

ETH/USD

Ethereum (ETH) is facing a much more profound decline than Bitcoin (ETH). The price of the chief crypto has dropped by 7.16% in the past day.

ETH/USD chart by TradingView

The coin has bounced off the support line of the Bollinger Band indicator, having confirmed bullish sentiments. In this case, the nearest scenario is short-term growth to the closest resistance at $235. It will likely reach said level next week.

Ethereum is trading at $225.55 at press time.

XRP/USD

The rate of the third most popular coin has dropped by 5.45% since yesterday. However, the rise over the past week has constituted around 2%.

XRP/USD chart by TradingView

According to the chart, XRP is looking bearish, from a short-term perspective. The lines of the MACD indicator are moving downward, suggesting continued decline. Moreover, based on the trading volume analysis, there are active buyers. Summing up, XRP should reach $0.22 shortly.

XRP is trading at $0.2279 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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