TOP 3 Price Predictions: Bitcoin, ETH, XRP — A Fast Pullback Is Postponed: Bearish Mood On The Market

  • Denys Serhiichuk
    📈 Price Predictions

    Bears have entered into the game when bulls are staying aside from the market


TOP 3 Price Predictions: Bitcoin, ETH, XRP — A Fast Pullback Is Postponed: Bearish Mood On The Market

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

Friday Apr. 12 is following Thursday’s decline on the cryptocurrency market. Despite the fact that rates of the most coins dropped by more than 5%, Bitcoin, Ethereum and Ripple reduced much less, having lost only 3-4 %.

On the background of this correction, the BTC’s domination rate increased and now makes up 52.1%

BTC/USD

The BTC’s rate has dropped below $5,100 this morning and now is on the way to the $5,000 mark. From a technical point of view, the BTC/USD pair broke the short-term trend line, which was at $5,246.

If the price does not return above this area, in the near future, the sale may continue up to psychological $5,000, reinforced by simple moving averages SMA50 (4-hour chart) and SMA200 (hour chart).

BTC/USD chart by TradingView

BTC/USD chart by TradingView

From a more long-term point of view, the bullish trend remains as long as the BTC/USD pair keeps above the $4,800– $4,600 zone, reinforced by the displaced DMA 200 moving average.

The price of BTC is trading at $5,025.60 at the time of writing.

ETH/USD

Yesterday Ethereum broke several support zones, particularly an important one at $168. On the 1-hour chart, we see correction below $160 in the short-term perspective.

ETH/USD chart by TradingView

ETH/USD chart by TradingView

Positions of buyers now look rather weak. Even a slight increase in sales may cause a decline to support $160. If the bears succeed in pushing through this level, then there is a danger that the price will collapse to the psychological point of $150.

The price of ETH is trading at $163.38 at the time of writing.

XRP/USD

The hourly chart of the XRP/USD pair shows a short-term decline with resistance at $0.3270. The pair may start a significant downward movement if in the near future the value drops below the support level of $0.32.

XRP/USD chart by TradingView

XRP/USD chart by TradingView

The cost of Ripple is currently being adjusted, taking into account the position of the US dollar. Meeting new highs cannot take place in case of a breakthrough below the support level of $0.33.

Thus, trade volume is not big, which means that sellers can push the rate lower if buyers do not enter the market.

The price of XRP is trading at $0.3248 at the time of writing.

Cover image via u.today
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About the author

Being a passionate blockchain enthusiast Denys has a vast experience in сryptocurrency market analysis, as well as blockchain related projects. All this is backed up by his working at W12 platform, Platinum Listing & ICO Advisory company, Export.Online and many others.

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