TOP 3 Price Predictions: BTC, ETH, XRP — Any Chances for A Short-Term Bullish Dominance?

Price Predictions
Mon, 12/02/2019 - 13:52
Denys Serhiichuk
Are there any reversal patterns on the cryptocurrency market?
Cover image via www.tradingview.com

The second day of December started with the continuing decline of the cryptocurrency market. Ethereum (ETH), EOS (EOS), and Binance Coin (BNB) are the only three coins currently located in the green.

Top 10 coins by Coinstats

Below are the current positions for Bitcoin (BTC), Ethereum (ETH), and XRP (XRP):

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$131,569,146,527

$7,277.53

$17,763,981,266

-0.86%

Ethereum

ETH

$16,133,079,464

$148.32

$6,778,946,380

0.41%

XRP

XRP

$9,514,626,980

$0.219738

$1,189,376,869

-0.73%

BTC/USD 

Our previous scenario for BTC remains relevant, as the current level is around $7,300 and critical in terms of further price movements.

BTC/USD chart by TradingView

Looking at the 4H chart, one can notice that BTC is almost fixed above $7,355 (61.8%). The next level is $7,581 (78.6%), and this might be achieved by the end of the current week. 

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However, the trading volume level needs to increase, or the price will come back to $7,000. If that happens, the short-term rise scenario will be canceled. 

At press time, BTC is trading at $7,317.

ETH/USD

ETH does not look as positive as BTC because there are fewer chances for the main altcoin to reach $150 and fix above it.

ETH/USD chart by TradingView

So far, ETH has not managed to break its bearish tendencies. As a short idea, one should consider a move to $140 as the trading volume index keeps declining, confirming the absence of buyers. ETH might attain this level through mid-December. 

At press time, ETH is trading at $148.86.

XRP/USD

XRP has been traded sideways since the last days of November. The coin has fluctuated between the range of $0.215 and $0.23.

XRP/USD chart by TradingView

According to the chart, XRP is located in bearish territory. This is confirmed by the increasing selling volume. The lines of the Moving Average Convergence/Divergence (MACD) indicator are also moving down. Respectively, traders might expect a return to the $0.215 level soon.

At press time, XRP is trading at $0.2195.

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

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