U.Today is supported by its audience. When you buy through referral links, we may earn a commission.

TOP 3 Price Prediction: BTC, ETH, XRP — Regular Correction or Prerequisite for Continued Decline?

Price Predictions
Wed, 02/26/2020 - 15:15
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Has the correction period already passed for Bitcoin (BTC), Ethereum (ETH), and XRP?

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.

There is a decline in the cryptocurrency market. In most cases, while everything is happening as part of the correction, in a number of liquid instruments the trend has already become pronounced. Trade volumes have noticeably increased. The capitalization rate has decreased by 7.7% since Monday, and its current value is $261 Bln.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

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

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$168 734 849 787

$9 251,65

$45 323 806 846

-3,94%

Ethereum

ETH

$26 299 601 396

$239,39

$22 810 140 265

-8,42%

XRP

XRP

$10 679 031 619

$0,244095

$3 163 536 436

-8,31%

BTC/USD 

Bitcoin (BTC) keeps falling after a failed attempt to stay above $10,000. At the moment, the chief cryptocurrency has lost almost 4% in the last day.

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

Taking into account the hourly chart, Bitcoin (BTC) is trading within a descending channel. Based on the trading volume analysis, buyers may retest the top of the channel at around the $9,370 mark.

Must Read
Why Is Bitcoin (BTC) Price Down 12 Percent? Top Analyst Calls Its Safe Haven Status Into Question - READ MORE

However, the scenario for the upcoming days remains bearish and the $9,000 mark is likely to be broken by the end of February,

Bitcoin is trading at $9,186 at press time.

ETH/USD

Ethereum (ETH) is even more bearish than Bitcoin (BTC). The rate of the main altcoin has dumped by 9.22% in the last 24 hours.

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

Ethereum is already oversold on the daily time frame. Sellers are unable to push the price below the support zone. Moreover, there is a bullish divergence on the RSI indicator. As a more likely scenario, traders might expect a rollback to the closest liquidity zone of $240 by the end of the current month.

Ethereum is trading at $231.08 at press time.

XRP/USD

XRP is the biggest loser on our list. The rate of the third most popular coin has dropped by almost 10% in the past day.

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

XRP is also oversold, which could help cause a price pullback. On the daily chart, the coin touched the support line of the Bollinger Bank indicator. Potential short-term growth is also supported by the trading volume. In this case, there is a high chance of reaching $0.24 soon.

XRP is trading at $0.2350 at press time. 

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.

Recommended articles
COVID-19 Crisis Ruins Bitcoin's Q1, but Bulls Could Soon Have Massive Comeback

COVID-19 Crisis Ruins Bitcoin's Q1, but Bulls Could Soon Have Massive Comeback

Bitcoin Price Spikes to Nearly $7,000 on Kraken as Whales Transfer More Than $300 Mln Worth of BTC

Bitcoin Price Spikes to Nearly $7,000 on Kraken as Whales Transfer More Than $300 Mln Worth of BTC

Bitcoin (BTC) Price Prediction — Growth to $7,000 Remains Questionable

Bitcoin (BTC) Price Prediction — Growth to $7,000 Remains Questionable

Bitcoin (BTC) Price Prediction — Growth to $7,000 Remains Questionable

Price Predictions
Tue, 03/31/2020 - 14:37
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

Join Now!
Sponsored by Celsius.Network
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.

The cryptocurrency market has been maintaining less and less strength for continued growth despite the fact that most of the top 10 coins are in the green zone.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

However, a slight bounce back has influenced the total market cap, which has increased by around $3 Bln since yesterday.

Total market cap
Total market cap

The relevant data for Bitcoin is below.

  • Name: Bitcoin

  • Ticker: BTC

  • Market Cap: $117 926 694 477

  • Price: $6,445.12

  • Volume (24h): $35 955 339 080

  • Change (24h): 1.98%

The data is relevant at press time.

BTC/USD: Any chances left of conquering $7,000? 

Bitcoin (BTC), on the 4H timeframe, has continued moving in a range ($5,800- $6,900). After the March 29 decline, one has confirmed the lower border (support) of this range near the $5,800- $5,900 zone.

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

The main resistance is at around $6,620. The main and key support is also around the $6,100- $6,250 marks. Using the volume profile, you can more accurately see it at the $6,170 - $6,190 level.

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

On the daily timeframe, the decline was absorbed immediately in 2 days (March 28 and 29). While the price is trading above $5,900- $6,100, there are chances of continued growth and a test at the $6,900 - $ 7,100 level again.

Must Read
Bitcoin (BTC) Immensely Oversold Before Halving, Targeting $7,800 Soon - READ MORE

The longer the price stays in the $5,800- $6,900 range, the greater the likelihood of an accumulation phase. In this case, one can predict a price increase to $8,500 in the medium term. For this, Bitcoin (BTC) needs to trade above $5,100 so as not to break the main trend.

Bitcoin is trading at $6,429 at press time.

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.

Recommended articles
COVID-19 Crisis Ruins Bitcoin's Q1, but Bulls Could Soon Have Massive Comeback

COVID-19 Crisis Ruins Bitcoin's Q1, but Bulls Could Soon Have Massive Comeback

Bitcoin Price Spikes to Nearly $7,000 on Kraken as Whales Transfer More Than $300 Mln Worth of BTC

Bitcoin Price Spikes to Nearly $7,000 on Kraken as Whales Transfer More Than $300 Mln Worth of BTC

Bitcoin (BTC) Price Prediction — Growth to $7,000 Remains Questionable

Bitcoin (BTC) Price Prediction — Growth to $7,000 Remains Questionable