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πŸ“ˆ Price Predictions

TOP 3 Price Predictions: Bitcoin, ETH, XRP β€” A Bounce Back Happened: Where Are We Moving Now?

  • Denys Serhiichuk
    πŸ“ˆ Price Predictions

    Monday has started with bullish movements. Are we following the example of the previous week or something new is going to happen on the market?


TOP 3 Price Predictions: Bitcoin, ETH, XRP β€” A Bounce Back Happened: Where Are We Moving Now?

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.

Contents

Monday, Apr. 15 has started with a new bullish wave, recovering the positions of the previous week.

Regarding the fundamental factors, investors have increased the number of long positions on Bitcoin by 88%, which is a confirmation of a long-term bullish run.

Among the top 3 coins, Ethereum has shown the biggest growth, having increased by approximately 3.2% by the past 24 hours.

In this regard, the BTC’s domination rate went down and now constitutes 51.8%

BTC/USD

At the beginning of last week, we saw an increase, but then there was a rollback to the support level of $5,000. Currently, the resistance zone is at $5,436. If the price breaks through this point, this mark will serve as a good entry opportunity.

BTC/USD chart by TradingView

On the other hand, although the RSI indicator shows a bullish sign, it is in the overbought area. Based on this data, one can say that pullback is still possible. While it is difficult to judge the depth of the correction, it is worth focusing on the support zone of $,4784 - $ 4,845.

In addition, although now it seems unlikely, we should not forget about the possible breakdown of this support. If this occurs, then the price may drop to $4,219.

The price of BTC is trading at $5,194.82 at the time of writing.

ETH/USD

After the breakdown of the level of $156, the mark of $184 became a serious resistance, and it was not possible to break through it.

At the moment the rate has fixed at around 0.38 Fibonacci retracement. If the price passes this mark down with a break of the 20-day EMA, this will serve a bearish sign.

ETH/USD chart by TradingView

What is more, the number of traders making bets against Ethereum (ETH) dropped to a record low, indicating a sharp change in investor sentiment.

The price of ETH is trading at $168.11 at the time of writing.

XRP/USD

The nature of the XRP quotes, as well as the MACD indicator and the RSI oscillator, show a recruitment position.

However, there is no demand for high levels of Ripple. Each upward movement is extinguished, which leads to fluctuations within the range of $0.31- $0.36.

XRP/USD chart by TradingView

The probability that the price will fall below $0.28 is extremely low. In this case, the Bollinger bands indicate the divergence of the channel. This can serve as a good reason for the test mark of $0.41, followed by consolidation above the level.

The price of XRP is trading at $0.3291 at the time of writing.

Cover image via u.today
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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 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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