TOP 3 Price Prediction: BTC, ETH, XRP — Has Market Entered Reversal Wave?

Price Predictions
Tue, 03/17/2020 - 02:07
Denys Serhiichuk
Can Bitcoin (BTC), Ethereum (ETH), and XRP maintain the ongoing short-term growth?
Cover image via www.tradingview.com

The cryptocurrency market has finally shown a significant rollback after about 2 weeks of continued decline. All of the top 10 coins are in the green zone. The main gainer has been Tezos (XTZ), whose rate has rocketed by 20% in the past day.

Top 10 coins by Coinstats

The important data for Bitcoin (BTC), Ethereum ETH), and XRP is below.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$95 081 820 314

$5,203.00

$42 472 203 104

14.79%

Ethereum

ETH

$12 605 676 717

$114.46

$14 368 625 999

11.11%

XRP

XRP

$6 391 355 832

$0.145779

$2 469 254 843

11.07%

BTC/USD 

The situation has changed in the past day. Bitcoin (BTC) has remained above $5,000 and could reach close to $5,500 on some exchanges. The growth has amounted to 13.89% since yesterday.

BTC/USD chart by TradingView

On the 4H chart, Bitcoin (BTC) is showing the first signs of a potential reversal. The rising wave has formed, confirming ongoing bull pressure. The nearest resistance, in this case, would be the $6,000 mark. Furthermore, the trading volume confirms the buying interest of bulls at current levels.

Bitcoin is trading at $5,300 at press time.

ETH/USD

Ethereum (ETH) continues showing worse performance than Bitcoin (BTC). The most popular altcoin has risen by 9.11% in the past day.

ETH/USD chart by TradingView

The bearish mood is not going to disappear soon, even though the coin is still oversold. The declining trading volume does not leave a chance for buyers to seize an opportunity. As a result, a more likely scenario is a sideways trend in the $108-$120 range.

Ethereum is trading at $116.82 at press time.

XRP/USD

The location of the candles on the 4H chart indicates a symmetrical triangle. However, the moving average shows an interesting trend. The moving average of the 50-day moving average passed the golden cross on February 2020. The death cross may even increase losses of up to $0.116.


The VPVR indicator showed an increase in trading activity in the $0.151 region. In the unlikely scenario of a trend reversal, XRP may rise to the above level. However, this would mean a jump in the current price of almost 14%. This is highly doubtful, given the bearish trend. If the death cross does occur, it will depend on the low of May 2017.

Related
XRP Price Prediction — Chances for $0.01 Breakout Increase

In this case, the indicator will be the $0.116 level. This downward momentum may cause it to drop from third position in the overall cryptocurrency rating.

XRP is trading at $0.1466 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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