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TOP 3 Price Prediction: BTC, ETH, XRP — Slight Correction Before Reaching New Heights

Price Predictions
Thu, 02/13/2020 - 12:48
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  • Is a correction the right time to buy back Bitcoin (BTC), Ethereum (ETH) or 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.

February 13 has started with a slight correction for the cryptocurrency market. After Bitcoin (BTC) tried to retest $10,500, massive sales began pulling back most of the top 10 coins to their previous levels.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

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

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$184 348 302 819

$10 120,70

$45 804 167 066

-2,02%

Ethereum

ETH

$28 583 303 539

$260,60

$25 027 024 878

1,88%

XRP

XRP

$13 540 168 840

$0,309782

$5 346 537 288

4,59%

BTC/USD 

Bitcoin (BTC) has tried to stay above $10,500 for the second time; however, sellers are very strong at that level. Respectively, they managed to correct the rate of the main crypto up to almost $10,000 in just over a few hours.

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

From a technical perspective, nothing critical has happened as the bullish trend has not been broken so far. As for the nearest price prediction, Bitcoin (BTC) might consolidate within the yellow range between $10,000 and $10,150 before going up.

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If bears keep it below $10,000, the bullish scenario will be cancelled.

Bitcoin is trading at $10,105 at press time.

ETH/USD

The main altcoin has almost completely neglected the Bitcoin (BTC) dump. Moreover, the price of Ethereum (ETH) has even risen by almost 2% in the last day.

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

Even though Ethereum (ETH) is showing much better performance than Bitcoin (BTC), it is likely to face a correction faster than the main crypto. This is confirmed by the Relative Strength Index indicator that is already located in the overbought zone. All in all, the coin is about to decline to $250 in the nearest days.

Ethereum is trading at $263.97 at press time.

XRP/USD

XRP has not been affected at all by BTC's dump. Furthermore, its rate has jumped by 4.59% over the last 24 hours.

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

On the 4H chart, XRP is about to be corrected to confirm the long-term bullish wave. Otherwise, it may face a deep price drop. Respectively, the more likely scenario is a decrease to $0.30. In addition, the trading volume index keeps going down, confirming the upcoming correction. 

XRP is trading at $0.3192 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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Price Predictions
Tue, 03/31/2020 - 14:37
Put your
crypto to
work
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    Interest per week

  • 67.5

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  • 3.60

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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.

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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.

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