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TOP 3 Price Predictions: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) — Has The Bull Run Followed by A Pull Back?

Price Predictions
Mon, 04/22/2019 - 07:39
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Denys Serhiichuk
?? The prices of the top 3 coins are not moving in one direction. Is that a coincidence or not?
TOP 3 Price Predictions: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) — Has The Bull Run Followed by A Pull Back?
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Contents

During the weekend, the rates of the most popular cryptocurrencies were at the top. However, the situation is being changed now. The prices of almost all digital assets out of the top 10 are decreasing, while the biggest loser is Litecoin, whose rate has dropped by more than 5% over the last 24 hours.

Against the background of the rollback, the BTC’s domination rate has increased up to 52.7%, while the total market capitalization makes up $177 billion.

BTC/USD

The past week passed quietly for Bitcoin. The bears managed to push test the lower border of the green corridor, and throughout the days the pair tried to recover to the upper border of the ascending zone.

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

On the 1-hour chart, the average price level keeps the pair from retesting the lower limit. However, in the area of ​​$5,400, a strong resistance exists, which does not allow the price to break through to the psychological level at $5,500. During the last week, buyers managed to form only one impulse to restore above the moving average EMA55. As long as the bulls failed to form a powerful bullish run, the BTC’s price will remain hanging at the level of the moving average.

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The price of BTC is trading at $5,299 at the time of writing.

ETH/USD

Monday, Apr. 22 has started for Ethereum with the fall of its rate and the price bounced back to the quotes of the middle of the previous week.

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

Yesterday's minimum at the point of $168 serves as the starting point for day consolidation in a narrow corridor, which has a slight upward trend.

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Ethereum (ETH) Price Prediction for April 2019 – The Rally to $200? The Uptrend Could Continue

The Fibonacci retracement shows that the asset is located in the red zone, which is a buying opportunity. However, it only happens with the increase of trading volume.

The price of ETH is trading at $169.73 at the time of writing.

XRP/USD

Ripple is supposed to be a ’’dark horse’’ among the top 3 coins, as its rate has increased by more than 2% just in 1 hour. Last week, the dynamics of the XRP/USD pair was weakly correlated with the dynamics of BTC/USD. Until the middle of the week, Ripple recovered to the resistance of $0.3443, showing around 11% growth, but by the end of the week, the pair could not consolidate at the level of $0.330.

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

Throughout April, Ripple is located in a wide lateral range, gradually narrowing the amplitude to a level of $0.330.

According to the RSI indicator, the asset isn’t overbought, so a bounce back to the previous levels is likely to occur.

The price of XRP is trading at $0.3264 at the time of writing.

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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, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.