TOP 3 Price Prediction: BTC, ETH, XRP — Bulls Not Giving Up so Easy

Price Predictions
Fri, 05/01/2020 - 14:38
Denys Serhiichuk
Is there any chance left for Bitcoin (BTC), Ethereum (ETH), and XRP to return to the resistance zones?
Cover image via www.tradingview.com

The first day of May has started with a positive mood as all of the top 10 coins are in the green zone. The market capitalization has returned to the values of early March. The consequences of the collapse of March 12-13 in the market can be considered eliminated.

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

$163 656 944 274

$8,916.14

$52 166 934 343

1.37%

Ethereum

ETH

$23 736 214 476

$214.33

$23 039 235 507

1.72%

XRP

XRP

$9 661 236 405

$0.219012

$2 541 962 297

0.77%

BTC/USD 

On April 30, Bitcoin (BTC) set a maximum of $9,460, slightly below the expected $9,600. From $9,460, profit-taking followed and the price adjusted to the $8,401 mark.

BTC/USD chart by TradingView

The closest support level at the moment is $8,749. Holding below this level for too long could mean a decline to $8,588. If $8,588 is broken, then we can expect a decline to the $8,000- $8,200 zone.

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The main resistance zone is $8,956-$9,020. As soon as buyers can gain a foothold higher, growth will continue to resistance at $9,400- $9,600.

BTC/USD chart by TradingView

The main resistance on the daily timeframe is the $9,000- $9,165 zone. Only if Bitcoin (BTC) holds above this mark can we talk about continued growth to the previous resistance ($9,460). In case of a breakdown of $9,460, medium-term goals are above $10,000.

Bitcoin is trading at $8,875 at press time.

ETH/USD 

Ethereum (ETH) is growing a little bit faster than Bitcoin (BTC). However, the rise over the past days has amounted to about 1%.

ETH/USD chart by TradingView

On the daily chart, the main altcoin has almost reached the overbought zone. However, it still has the strength to rise. The trading volume is quite high, which confirms the ongoing pressure of buyers. The most likely outcome traders can expect is a rise to $217 shortly.

Ethereum is trading at $211.65 at press time.

XRP/USD 

Our last XRP price prediction has come true as the coin has come back to the support zone at $0.21 and now trading around it. The third most popular crypto has lost 0.09% since yesterday.

XRPBTC/USD chart by TradingView

XRP is the only coin out of the top 3 list whose growth potential is coming to an end. Based on the chart, it could not hold above the resistance at $0.23, which confirms the strong bearish pressure in that area. What is more, the lines of the MACD indicator are slowly turning to the red zone. Summing up, there are high chances of XRP testing the $0.18-$0.19 range soon.

XRP is trading at $0.2174 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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