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TOP 3 Price Prediction: BTC, ETH, XRP — Resistance Zones of the Top Coins

Price Predictions
Thu, 03/19/2020 - 14:59
Denys Serhiichuk
Has a bullish trend returned for Bitcoin (BTC), Ethereum (ETH), and XRP?
Cover image via www.tradingview.com

The top coins have finally entered a recovery period. All of them are currently experiencing a bullish trend. The top gainer is Tezos (XTZ), whose rate has rocketed by 17.56% over the past day.

Top 10 coins by Coinstats

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

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$105 595 230 235

$5,777.37

$43 015 372 575

12.76%

Ethereum

ETH

$14 055 447 793

$127.59

$13 741 921 802

13.74%

XRP

XRP

$6 761 705 375

$0.154227

$2 168 270 221

8.27%

BTC/USD 

On the weekly chart for Bitcoin (BTC), the price is "clinging" to the lower boundary of the ascending channel. The current price structure is a bullish “1-1” pattern, with two equal corrections both in time and in price. In most cases, there is strong upward movement. In the current situation, the target may be above $6,000.

BTC/USD chart by TradingView

If the bulls can hold this area of ​​support and subsequently push the price outside the Triangle model, this will be a very strong signal of a continued rise. An additional signal in favor of long term growth for Bitcoin (BTC) would be a rebound from the support line on the RSI indicator. If the bears sell the ​​$3,500 area, a breakdown of the lower border of the rising channel will occur, and the support area near $1,200 will be the target for the fall.

Bitcoin is trading at $5,836 at press time.

ETH/USD

Ethereum (ETH) buyers are, once again, clinging to the support area at the bottom of the downward channel. The values of the RSI indicator are also testing the support area, so there is every chance to see a rebound from the current price levels to the first goal of $150.

ETH/USD chart by TradingView

Another scenario would be a decrease and consolidation under $80, which will indicate a breakdown of the lower boundary of the channel and a drop even lower, to $55. A similar breakdown of the channel, in technical analysis, is considered a strong signal to continue the downward trend.

Ethereum is trading at $126.09 at press time.

XRP/USD

On the 4H chart, quotes are adjusted within the framework of the Triangle model, the analogs of which are observed in other assets. A signal for growth would be a breakdown of the upper boundary of the model and consolidation above $0.17, which will indicate overcoming the upper boundary of the downward channel.

XRP/USD chart by TradingView

Another scenario could be the breakdown of the lower border of the pattern with the price holding below $0.11, in which case $ 0.09 would be the goal.

XRP is trading at $0.1560 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.

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