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TOP 3 Price Predictions: BTC, ETH, XRP — Bitcoin Soars $200 in a Few Hours. Can ETH and XRP Follow the Scenario?

  • Denys Serhiichuk
    📈 Price Predictions

    Can Bitcoin keep up the growth started at the weekend?

TOP 3 Price Predictions: BTC, ETH, XRP — Bitcoin Soars $200 in a Few Hours. Can ETH and XRP Follow the Scenario?
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.

By the end of the weekend, the cryptocurrency market started growing as a result of BTC’s sharp price rise by $200 in a few hours. All the top 10 coins are trading in the green zone. The biggest gainers are Bitcoin Cash and Bitcoin SV, whose rates have increased by 6.12% and 7.16% respectively.

Top 10 coins by Coinstats

The key indicators of the top 3 coins now look as follows:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$148 664 765 616

$8 257,36

$15 244 966 877

4,00%

Ethereum

ETH

$18 930 418 577

$174,91

$6 382 822 726

2,10%

XRP

XRP

$12 585 571 688

$0,291045

$1 648 503 402

0,75%

BTC/USD 

Yesterday, Bitcoin bounced off the support zone at around $8,000 and recorded a sharp growth. The price even got over the $8,300 mark on some exchanges.

BTC/USD chart by TradingView

Although Bitcoin has risen by more than $200 in a few hours, the long-term scenario remains bearish. Over the last month, the leading crypto tried to fix above $8,500 several times. However, it always failed. In this regard, one is likely to see BTC at $8,500 due to the rising trading volume. 

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Taking into account the historical background, the quotes are about to return to the support area soon. Moreover, the RSI indicator is located near the overbought zone, suggesting an upcoming correction.

At press time, Bitcoin is trading at $8,256.

ETH/USD 

Ethereum followed the BTC’s scenario, however, the price rise of the leading altcoin was not so immense compared to Bitcoin.

ETH/USD chart by TradingView

On the 4H chart, the general picture remains bearish, Ethereum returned to the positions it held on October 18. The chief altcoin remains within the descending channel since the vital $180 level was not reached. Furthermore, the trading volume is low, which prevents buyers from pushing the price higher. Summing up, ETH will reach the nearest support at $170 shortly. 

At press time, Ethereum is trading at $175.20.

XRP/USD

XRP has not followed yesterday’s growth of Bitcoin. The price of the third most popular crypto has almost unchanged as it increased by only 0.25% over the last 24 hours.

XRP/USD chart by TradingView

According to the chart, XRP has been located in a sideways trend over the last 7 days. In terms of the nearest short-term scenario, the $0.30 level may be achieved, however, there are no prerequisites for a further price rise. The trading volume level remains low, as the RSI indicator looks downward. All in all, the XRP price might roll back to the closest support at $0.28 soon.

At press time, XRP is trading at $0.2896.

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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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Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester

  • Alex Dovbnya
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    Tuur Demeester wants you to buy the dip as Bitcoin touches the support of its parabolic uptrend for the first time since March

Bitcoin's Parabolic Uptrend Remains Intact Despite Price Collapse: Tuur Demeester
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.

Tuur Demeester of Adamant Capital has just taken to Twitter to calm down Bitcoin enthusiasts who might have been swayed by incredibly bearish sentiment on crypto Twitter. 

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Bitcoin recently dropped to $6,800, its lowest level since early May. However, Demeester apparently sees this as yet another opportunity to buy the dip. He states that top coin's parabolic uptrend that started at the beginning of 2015 hasn't been violated. However, Bitcoin has tapped support for the first time since March when Bitcoin was trading well below $4,000. 

Shortly after printing a huge red candle on the logarithmic chart, the Bitcoin price spiked by 20 percent on Apr. 2, which started the coin's massive run to $13,700. 

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As of now, BTC is down by nearly 50 percent from its yearly high, but this might not be the end of the nightmare for Bitcoin bulls. According to trading exert Josh Rager, the crypto king could plunge below the $7,000 level again after a fakeout to the $7,500 range. 

Gold bug Peter Schiff recently predicted that BTC could collapse to $10,000 level after competing the head-and-shoulders pattern.  

At the time of writing, BTC is sitting $7,313, CoinStats data shows. 

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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.

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