TOP 3 Price Prediction: BTC, ETH, XRP — Has Bearish Scenario Been Canceled?

Price Predictions
Wed, 04/29/2020 - 14:17
Denys Serhiichuk
Was today's rise from Bitcoin (BTC), Ethereum (ETH), and XRP the last one before BTC's halving?
Cover image via www.tradingview.com

As the Bitcoin (BTC) halving approaches, to which there are 13 days left, market activity is growing. A few hours ago, the first cryptocurrency managed to overcome the psychologically important $8,000 mark. The top 10 coins remain in the green zone. However, today, Ethereum (ETH) is the main gainer, not Tezos (XTZ) as it was yesterday.

Top 10 coins by Coinstats

The main data for Bitcoin (BTC), Ethereum ETH), and XRP is as follows.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$149 460 970 842

$8,144.21

$39 889 998 385

5.72%

Ethereum

ETH

$23 060 216 460

$208.28

$21 688 660 647

6.26%

XRP

XRP

$9 672 378 292

$0.219264

$2 656 764 974

6.43%

BTC/USD

Another of our Bitcoin (BTC) price predictions has come true as the main crypto has successfully overcome the $8,200 mark. The rise has amounted to 6.88%, since yesterday.

BTC/USD chart by TradingView

On the 4H time frame, Bitcoin (BTC) has reached an important zone at $8,300. The coin is already overbought, suggesting a price roll-back from current levels.

Related
Bitcoin (BTC) Price Breaks $8,000, But Be Careful: Trader Warns

Moreover, the trading volume is not high enough to push the rate further. The most likely scenario is Bitcoin (BTC) facing a correction to $8,000 soon. If buyers can buy it back, the growth will continue to $8,500 and above.

Bitcoin is trading at $8,319 at press time.

ETH/USD

Ethereum (ETH) has shown less growth than Bitcoin (BTC). The price of the main altcoin has rocketed by 6.07% over the past 24 hours.

ETH/USD chart by TradingView

Ethereum (ETH) has almost reached its height. From a technical point of view, it still has a chance of reaching $217. However, that would be the local height. Currently, the coin is as overbought as Bitcoin (BTC) and traders can expect a sharp dump shortly. In addition, there is no liquidity at all to push ETH higher. Summing up, a drop to the $180 zone is about to occur. 

Ethereum is trading at $208.51 at press time.

XRP/USD

Surprisingly, XRP is growing even faster than Ethereum (ETH). Its rate has risen 6.21%, which is quite unusual for it.

XRP/USD chart by TradingView

XRP is overbought on the 4H chart. This is also confirmed by the Stochastic RSI indicator. The rise is not supported by increasing trading volume, which is a bearish signal. In this case, the most likely scenario is a decline to the first support zone at $0.21 within the next few days.

XRP is trading at $0.2198 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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