TOP 3 Price Prediction: BTC, ETH, XRP — Preparation for Bull Run or Continued Decline?

Price Predictions
Fri, 03/06/2020 - 14:17
Denys Serhiichuk
Can Bitcoin (BTC), Ethereum (ETH), or XRP rocket at the end of the current week?
Cover image via www.tradingview.com

The rapid growth of the cryptocurrency market has slowed down and most of the top 10 coins are located in a sideways trend. The only exception is Binance Coin (BNB), whose rate has decreased by 0.72% in the past day.

Top 10 coins by Coinstats

Take a look at the key data for Bitcoin (BTC), Ethereum ETH), and XRP.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$16,661,065,624

$9,126.70

$39,491,708,511

0.40%

Ethereum

ETH

$26,007,794,396

$236.48

$18,386,520,502

2.27%

XRP

XRP

$10,621,986,735

$0.242411

$2,347,793,600

1.18%

BTC/USD 

Even though Bitcoin (BTC) is located in the green zone, its growth has been much weaker compared to other altcoins. The rate of the leading crypto has risen by only 0.75% in the past day.

BTC/USD chart by TradingView

On the 4H timeframe, after correcting from the $9,178 level, immediate support is at $9,000. The main scenario is continued growth to the $9,428 mark. To do this, buyers need to pass $9,178.

Related
Binance CEO on Bitcoin (BTC) Price: 'Doesn't Feel Like We Will Hang Around $9,000 for Long'

The critical level, which could cancel current growth, is $8,800- $8,900. Currently, indications are mostly for continued growth as both the MACD indicator and the trading volume index show positive dynamics.

Bitcoin is trading at $9,164 at press time.

ETH/USD 

Ethereum (ETH) is ahead of most of the coins. Its rate has increased by almost 3% in the past 24 hours.

ETH/USD chart by TradingView

From a technical point of view, Ethereum (ETH) has not yet reached its local peak. The Relative Strength Index indicator is approaching the overbought zone. Moreover, the current price rise is accompanied by increasing trading volume, which is a positive sign. In this case, it is likely it will cross the nearest resistance, at the $240-$242 zone, within the next few days.

Ethereum is trading at $239.45 at press time.

XRP/USD

XRP has broken out from the accumulation phase and is about to continue its bullish wave. The rate of the coin has increased by 1.90% in the past day.

XRP/USD chart by TradingView

XRP has found support at the main line of the Bollinger Band indicator. The chances of a rise are also supported by high buying trading volume. Traders can expect to cross the closest resistance level at the $0.25 mark by the end of the current week.

XRP is trading at $0.2457 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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