TOP 3 Price Prediction: BTC, ETH, XRP — Gaining Efforts Before Upward Movement?

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Tue, 01/21/2020 - 14:08
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    Are traders becoming more interested in Ethereum (ETH) and XRP than Bitcoin (BTC)?

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.

While Bitcoin (BTC) has been trading sideways in the range of $8,460– $8,750, altcoins have rushed into the green zone. Bitcoin SV (BSV) has shown the most growth of those in the top 10.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

Below is key data for Bitcoin (BTC), Ethereum (ETH), and XRP.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$157 290 392 185

$8 655,07

$28 501 978 743

0,80%

Ethereum

ETH

$18 341 904 165

$167,71

$11 290 539 982

2,85%

XRP

XRP

$10 296 822 461

$0,235875

$1 955 662 811

3,77%

BTC/USD 

Yesterday, trading was calm, at medium volumes. Sellers tried to push the line at $8,632 but buyers would not allow the price to drop below $8,500. Tonight, on declining volumes, buyers tried to continue the recovery, but could not rise above the hourly EMA55. Until the morning, the pair will remain on the rather narrow side.

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

Today, during the day, a false bullish breakout is possible in the area of $8,900, after which the price will return to the lateral range.

Must Read
Bitcoin (BTC) Price Prediction — Getting Ready for Move to $9,000 or $8,500? - READ MORE

It is still of interest to roll back the price to the area of the $8,000 trend line, since the support of the upper border of the downward channel is extremely important for continuing the bull run, which broke off around the annual maximum of $9,200.

Bitcoin is trading at $8,646 at press time.

ETH/USD

Ethereum (ETH) is sitting in a much better position than Bitcoin (BTC). The chief altcoin has risen by 3.52% over the last day.

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

Applying a Fibonacci retracement on the 4H chart, one will notice that Ethereum (ETH) is sitting at the 78.6% level. Currently, there are no prerequisites for a price rise as the coin is still facing a correction after recent growth to $178. In this case, a more likely scenario is the closest mark at $156.19 (61.8%).

Ethereum is trading at $167.25 at press time.

XRP/USD

Yesterday, sellers set a daily minimum of $0.224. By the end of the day, buyers were able to restore the price to the previous level, at the support of $0.232. At night, the recovery continued, allowing the pair to overcome the resistance level of the sentry EMA55.

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

Today, after a maximum of around $0.250, the pair XRP/USD might return to the level of average prices as XRP is showing good price dynamics against Bitcoin and other altcoins.

XRP is trading at $0.2386 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 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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