0
📈 Price Predictions
4056 views

TOP 3 Price Predictions: BTC, ETH, XRP - Bitcoin Pushing Ahead, Altcoins Showing False Breakout

ByBit
  • Denys Serhiichuk
    📈 Price Predictions

    ETH and XRP are going up. Is it a sign of short-term growth or a false breakout?

TOP 3 Price Predictions: BTC, ETH, XRP - Bitcoin Pushing Ahead, Altcoins Showing False Breakout
Cover image via www.tradingview.com

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.

The cryptocurrency market has surpassed the $251 billion capitalization mark. Against a relatively positive background, Stellar (XLM) stands out from the rest of the coins with a 16% increase in price. Bitcoin Cash (BCH) is the only asset located in the red compared to its previous position. 

Top 10 coins by Coinstats

Below is the main data for the top 3 coins:

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$168,373,175,300

$9,338.17

$28,561,394,019

0.77%

Ethereum

ETH

$20,352,364,992

$187.69

$10,511,756,657

1.56%

XRP

XRP

$13,020,596,006

$0.301068

$2,017,901,116

2.69%

BTC/USD 

The four-month downtrend turned out to be a strong obstacle - Bitcoin (BTC) fell below $9,500. However, the forecast will become bearish again only if the price drops below the 200-Day Moving Average to a price of $9,127. Furthermore, the depreciation was not accompanied by an increase in volume, resulting in a possible be short-term increase.

Today, an interesting phenomenon at the CME Group, in which traders blew out the big wick and down to the $8,600 mark. The gap is considered closed when it is close to the body, and not to the shadow.

BTC/USD chart by TradingView

One positive note about yesterday is that the price broke the triangle, and did not go below the $9,200 mark, resulting in a new low. It is better not to fixate at the $9,200 mark as BTC will test the $9,000 mark again.

👉MUST READ

Bitcoin (BTC) Price Analysis — One More Sideways Week Awaits Us?

Bitcoin (BTC) Price Analysis — One More Sideways Week Awaits Us?

The price traded for a long time in the rectangle, which is where the accumulation took place. So far, its penetration is considered false. It needs to gain a foothold above it, and then BTC will go up to the $9,800-$9,900 mark. However, if the price goes below it, then the leading crypto will test the $8,600 mark.

At the time of publication, BTC was trading at $9,311. 

ETH/USD 

While BTC keeps hovering around the $9,000 mark, Ethereum (ETH) is trying to grow. The rate of this leading altcoin has increased by 1.36% throughout the day.

ETH/USD chart by TradingView

Looking at the chart, buyers are more active than sellers, resulting in a price increase of $190 sooner than later. However, there are no prerequisites for a further uptrend. The trading volume is decreasing, and even after the October 25th pump, ETH is not facing a correction. In conclusion, a rollback might occur to $180. 

At the time of publication, ETH was trading at $187.19.

XRP/USD

XRP has had the biggest gain in comparison to BTC and ETH. Its rate has increased by 2.37% since yesterday.

XRP/USD chart by TradingView

Looking at the 4H chart, XRP has been in the ascending channel for the last few days. However, the coin needs to fix above the $0.30 mark in order to confirm an upward movement. Currently, there are no reasons for that as the trading volume keeps decreasing. If the situation does not change, one might see a drop to $0.2950.

At the time of publication, XRP was trading at $0.3014.

Subscribe to U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

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.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted
0
📰 News
247 views

Bitcoin Massacre: $180 Mln Worth of BTC Longs Liquidated on BitMEX

ByBit
  • Alex Dovbnya
    📰 News

    A massive amount of long positions gets liquidated on the BitMEX exchange after the Bitcoin price tanked all the way down to $7,350

Bitcoin Massacre: $180 Mln Worth of BTC Longs Liquidated on BitMEX
Cover image via u.today

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.

$179.3 mln worth of longs has been liquidated on BitMEX, the leading derivatives exchange, after the Bitcoin price shockingly dropped to $7,350 (compared to spot exchanges where BTC didn't go below $7,500). Considering that the average leverage is 25x, Bitcoin bulls collectively netted a loss of around $6.4 mln.         

One of the top traders on BitMEX, who felt "long and strong" at the $8,000 level, most probably regrets his recent tweet.     

👉MUST READ

Bitcoin Is Dying, According to Top Trader Who Masterfully Shorted BTC at $20,000

Bitcoin Is Dying, According to Top Trader Who Masterfully Shorted BTC at $20,000

This string of bloody-red candles opens a possibility for a further drop to below $7,000, which has been the pipe dream of Bitcoin bears ever since the BTC price blasted past this level back in May.   

At the time of writing, the top coin by market capitalization is sitting at $7,581 with no sings of buying pressure, CoinStats data shows.  

Trader "The Wolf of Wall Street" says that the retail interest in Bitcoin has been slowing down in November (based on the number of addresses with balances less than 0.1 BTC). Hence, it is unlikely that the average Joe will start FOMOing in anytime soon.      

Dutch analyst "Plan B" didn't cave in to bearish sentiment. He says that the positive difficulty adjustment prevented the much-feared miner capitulation, and the BTC price could increase from that point. 

👉MUST READ

Deribit or BitMEX? Crypto-derivatives Exchanges Compared

Deribit or BitMEX? Crypto-derivatives Exchanges Compared

As reported by U.Today, the Bitcoin price could still nose-dive by 40 percent based on the BitMEX funding rate

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted