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TOP 3 Price Prediction: BTC, ETH, XRP — Bearish Sentiments Becoming More Visible

Price Predictions
Mon, 02/24/2020 - 13:59
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  • Can we expect continued growth of Bitcoin (BTC), Ethereum (ETH), and XRP this week?

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.

The most liquid instruments of the cryptocurrency market since Friday have shown mainly lateral dynamics against the background of a neutral news flow. The main market indicator added 0.7% and, at the moment, its value is $283 Bln.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

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

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$178 841 328 220

$9 807,71

$40 158 237 954

-0,61%

Ethereum

ETH

$29 792 461 186

$271,25

$19 562 307 640

0,25%

XRP

XRP

$12 040 743 074

$0,275221

$2 362 901 431

-2,31%

BTC/USD 

Monday has started with a decline of Bitcoin (BTC). The main crypto dumped from $10,000 to $9,600 within just a few minutes.

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

On the hourly chart, Bitcoin is still facing a bearish mood as a result of the recent dump. However, sellers are losing their strength to push the rate below current levels.

Must Read
Despite Bitcoin (BTC) Price Rallying Above $10,000, Things Still Look Great for Bears - READ MORE

Also, long bearish wicks are a reason bulls could push it back to the crucial $10,000 mark.

Bitcoin is trading at $9,787 at press time.

ETH/USD

The price of Ethereum (ETH) remains flat. Since Friday, the coin's quotes have not changed.

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

Ethereum (ETH) is accumulating efforts to continue its bull run. The main altcoin bounced off the $265 level, showing the strength of buyers. Moreover, the lines of the MACD indicator also confirm bullish sentiments. In this scenario, buyers have great chances at getting the price to $280 by the end of the month.

Ethereum is trading at $271.13 at press time.

XRP/USD

After the XRP quotes dropped below the blue trend line, confirming the assumption that the coin remains weak relative to other cryptocurrency market instruments under consideration, nothing new has happened here. Lateral movement is noted.

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

At the same time, on a larger time frame, you can see the technical  'Head and Shoulders' figure that has formed over the past month, which will finally take shape if it moves below the $0.264 price per coin.

XRP is trading at $0.2742 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 make 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.

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Price Predictions
Sun, 03/29/2020 - 19:05
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

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Sponsored by Celsius.Network
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.

Bears are not giving any chances for the bulls. The altcoins market is following the trend of the main crypto; however, there are some rollbacks. This is mainly with XRP, which is the biggest loser from the Top 10 list. Its rate has increased by almost 2%. 

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The situation has remained almost unchanged since last week with the cryptocurrency market. Respectively, the dominance rate and position of Bitcoin (BTC) remains the same, currently sitting at 65%.

BTC’s dominance rate
BTC’s dominance rate

Below is the relevant data for Bitcoin and how it is looking today:

  • Name: Bitcoin

  • Ticker: BTC

  • Market Cap: $112,508,256,614

  • Price: $6,150.27

  • Volume (24H): $29,780,276,933

  • Change (24H): -2.04%

BTC/USD: Any Hope for a Bounce Back from Current Levels?

Our recent Bitcoin (BTC) price scenario is coming true as the coin continues to trade between the range of $6,000-$6,300. In terms of our weekly analysis, the rate for the coin remains unchanged.

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

Looking at the 4H chart, Bitcoin (BTC) is testing the rising channel's support line, which was formed on March 16th. From a technical perspective, there might be a breakout towards the resistance zone at $7,000 as the current week has been an accumulative one before a sharp price blast. Moreover, the Moving Average Convergence/Divergence (MACD) indicator confirms short-term growth.

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

Looking at the daily chart, the 50-Day Moving Average (MA) has crossed the 200-Day MA, forming a 'Death Cross' pattern. This means that the $3,600 level is unlikely to be the bottom.

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Bitcoin Price (BTC) Is Closely Resembling the Stock Market's Massive Drop in 1930 - READ MORE

Moreover, the Relative Strength Index (RSI) indicator is located in bearish divergence territory. In this case, the first stop for the ongoing long-term fall is $5,000.

At press time, Bitcoin was trading at $6,123.

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 make 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.

Recommended articles
Bitcoin (BTC) Price Prediction: Bears on the Way to Retest $6,000

Bitcoin (BTC) Price Prediction: Bears on the Way to Retest $6,000

Bitcoin (BTC) Price Has Very Low Chance of Hitting New All-Time High This Year

Bitcoin (BTC) Price Has Very Low Chance of Hitting New All-Time High This Year

XRP & Ethereum Plunge 90% From Record Highs as It Risks Big Correction

XRP & Ethereum Plunge 90% From Record Highs as It Risks Big Correction