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TOP 3 Price Predictions: BTC, ETH, XRP — Bitcoin Suddenly Dropped. How Top Coins Should React?

Price Predictions
Fri, 10/11/2019 - 08:16
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  • Can Ethereum and XRP grow against the falling Bitcoin in a short-term 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.

Yesterday Bitcoin reached $8,800 on some exchanges, however, that was a false breakdown. As it usually happens, the top coins followed the price movement of the chief crypto. Currently, all top 10 cryptocurrencies are located in the red zone. The biggest loser is Bitcoin SV whose rate has plummeted by more than 5% over the last 24 hours.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The key data of Bitcoin, Ethereum, and XRP are the following ones.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$152 265 300 812

$8 465,81

$19 559 084 744

-1,51%

Ethereum

ETH

$20 395 807 362

$188,68

$9 163 209 270

-3,13%

XRP

XRP

$11 697 139 884

$0,270975

$1 435 736 893

-3,39%

BTC/USD 

Our previous Bitcoin prediction is coming true, as the price is coming back to the previous support at $8,200-$8,300. Buyers tried to provoke the growth of the cryptocurrency market, however, that was just another correction before an ongoing decline to move down. The pressure from the bears has not weakened.

 

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the 4H chart, Bitcoin remains trading within the downward channel. However, the price is unlikely to drop fast to the area below $8,000. 

An additional signal, in this case, will be a test of the trend line on RSI. Earlier, one already observed regular price rebounds and a drop in quotations at the moment when the indicator values reached the level of 75. Now the values are located near the level of 50, so the current area does not look interesting in favor of falling directly from current levels.

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However, if bulls do not manage to reach $9,000 in a few days, BTC will drop to $7,600.

Bitcoin is trading at $8,435 at press time.

ETH/USD 

Bulls could not get Ethereum to the psychological level of $200. Currently, the coin is about to face a correction after an uptrend movement started from September 26.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

According to the chart, the blue line of the MACD indicator crossed the red one, suggesting the price decline to the closest area at $180. The high index of selling volume also supports the upcoming drop. In this case, Ethereum is likely to reach $180 until mid-October.

Ethereum is trading at $186.74 at press time.

XRP/USD

Yesterday, bears did not give a single chance for buyers to test the target mark of $0.29. They rolled back a pair below the average price level and set a local minimum at $0.266.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the 1H chart, XRP is forming a reversal figure. The RSI indicator has not reached yet the oversold area, confirming the possible decline. 

The colored EMA/SMA line changed to the red color which means the dominance of sellers on the market. In a short-term scenario, the coin will reach $0.26 until October 14.

XRP is trading at $0.2668 at press time.

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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Price Predictions
Tue, 03/31/2020 - 14:37
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

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Sponsored by Celsius.Network
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 been maintaining less and less strength for continued growth despite the fact that most of the top 10 coins are in the green zone.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

However, a slight bounce back has influenced the total market cap, which has increased by around $3 Bln since yesterday.

Total market cap
Total market cap

The relevant data for Bitcoin is below.

  • Name: Bitcoin

  • Ticker: BTC

  • Market Cap: $117 926 694 477

  • Price: $6,445.12

  • Volume (24h): $35 955 339 080

  • Change (24h): 1.98%

The data is relevant at press time.

BTC/USD: Any chances left of conquering $7,000? 

Bitcoin (BTC), on the 4H timeframe, has continued moving in a range ($5,800- $6,900). After the March 29 decline, one has confirmed the lower border (support) of this range near the $5,800- $5,900 zone.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

The main resistance is at around $6,620. The main and key support is also around the $6,100- $6,250 marks. Using the volume profile, you can more accurately see it at the $6,170 - $6,190 level.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the daily timeframe, the decline was absorbed immediately in 2 days (March 28 and 29). While the price is trading above $5,900- $6,100, there are chances of continued growth and a test at the $6,900 - $ 7,100 level again.

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The longer the price stays in the $5,800- $6,900 range, the greater the likelihood of an accumulation phase. In this case, one can predict a price increase to $8,500 in the medium term. For this, Bitcoin (BTC) needs to trade above $5,100 so as not to break the main trend.

Bitcoin is trading at $6,429 at press time.

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.

Recommended articles
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COVID-19 Crisis Ruins Bitcoin's Q1, but Bulls Could Soon Have Massive Comeback

Bitcoin Price Spikes to Nearly $7,000 on Kraken as Whales Transfer More Than $300 Mln Worth of BTC

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