TOP 3 Price Predictions: BTC, ETH, XRP — Bitcoin Is Forming a Death Cross, Switching the Market to a Bearish Cycle

Price Predictions
Wed, 10/16/2019 - 09:06
Denys Serhiichuk

Is there a chance for the market to remain bullish? Are the bears now in control?

Cover image via www.tradingview.com

The cryptocurrency market did not show any revival even in the short-term. Yesterday, Bitcoin continued its fall, and its price is currently sitting below the $8,200 level. Most of the top altcoins have followed the price movements of the leading crypto (save for Bitcoin SV whose price has increased by 6.44% over the last 24 hours).

Top 10 coins by Coinstats

The key indicators of Bitcoin, Ethereum, and XRP are looking this way.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$147 694 763 270

$8 207,69

$14 995 380 667

-1,89%

Ethereum

ETH

$19 550 559 352

$180,75

$7 599 730 850

-2,81%

XRP

XRP

$12 492 532 213

$0,289401

$1 642 869 711

-2,54%

BTC/USD 

Bitcoin is moving according to our yesterday's price prediction, and the expected level of $8,000 will be reached soon.

BTC/USD chart by TradingView

On the one day Bitcoin chart, the top coin is forming the death cross pattern as the daily 50 MA is about to cross the 200 MA. Having analyzed the historical data, last time there was a death cross, the BTC price dropped to the $3,000 mark. 

Related
Bitcoin (BTC) Price Analysis — Holding the $8,300 Support But Likely to Go Down

If such a situation happens again, one is likely to see the leading crypto dropping to $8,000 or even below this level in mid-November.

Bitcoin is trading at $8,169 at press time.

ETH/USD 

Ethereum is the biggest loser today out of the top 3 coins. Its price has decreased by almost 3% over the last 24 hours.

ETH/USD chart by TradingView

Ethereum has found support at $177 - the level ETH has bounced off many times. Even though the long-term forecast remains bearish, the coin might show a slight rise shortly. Such a bullish tendency is confirmed by the MACD indicator which has recently turned green. 

Related
Ethereum (ETH) Price Analysis — Can Bulls Fix Above the $180 Level?

Moreover, Ethereum is forming the triangle pattern with the high point at $184. This level might be reached in a few days.

Ethereum is trading at $179.42 at press time.

XRP/USD

XRP is trading in line with our recent forecast after the coin failed to fix above the $0.29 level. Its price has gone down by 2.54% over the last day.

XRP/USD chart by TradingView

On the four-hour chart, XRP is looking exhausted. The recent price rise was not accompanied by an increase in trading volume. Thus, the line of RSI is moving down. At the moment, there are no signals that might indicate the growth either in the short or long-term scenarios. Summing up, XRP seems positioned to achieve the $0.28 mark by October 20.

XRP is trading at $0.2865 at press time.

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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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