TOP 3 Price Predictions: BTC, ETH, XRP — End of False Breakouts?

Price Predictions
Mon, 11/18/2019 - 14:35
Denys Serhiichuk
Will the altcoins follow the trend of Bitcoin (BTC) by updating their bottoms?
Cover image via www.tradingview.com

Over the weekend, the cryptocurrency market continued its smooth downward trend. The total market capitalization indicator shows a decline of 0.8% since Friday. This constitutes a value of $234 billion at the the current moment. The only exception from the list of top 10 cryptocurrencies is Cardano ADA - its rate has increased 3.56% against the decline of the other altcoins.

Top 10 coins by Coinstats

Below are the key indicators for Bitcoin (BTC), Ethereum (ETH), and XRP (XRP):

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$154,654,484,839

$8,566.03

$17,848,684,815

-0.84%

Ethereum

ETH

$20,085,021,476

$184.95

$7,011,975,763

-0.60%

XRP

XRP

$11,393,676,039

$0.263143

$1,255,671,906

-1.45%

BTC/USD 

Our recent price prediction remains relevant as the price of BTC has not moved closer to the $8,000 mark. With a recent drop from $8,650, BTC is slowly approaching a recovery phase. This should only be a false recovery as there will be a continuing reduction in price.

BTC/USD chart by TradingView

A slight upward movement should end near the $8,700 mark, where the 50-day moving average (50 MA) and the 200-day moving average (200 MA) are located. This is an indicator of good resistance. 

Related
Bitcoin (BTC) Price Analysis — Analyzing Chances for $8,500 Break This Week

After that, the first cryptocurrency may continue its downward trend to the $8,200 mark.

At press time time, Bitcoin is trading at $8,480.

ETH/USD

ETH is also trading according to our earlier scenario as the coin has already lost a few points from its previous position at $184. 

ETH/USD chart by TradingView

A possible upward movement was limited at resistance area at $186, with the price currently adjusted below this mark. The hourly moving average convergence divergence (MACD) indicator is showing signs of slow growth in bearish territory, while the relative strength index (RSI) is gaining bearish momentum below 50. At the moment, the main support level for ETH is near $180, and below that is $178 - a price that ETH is likely to visit again.

At press time, ETH is trading at $181.89.

XRP/USD

XRP has the greatest bearish tendencies among the top 5 coins as the price of the coin has gone down by more than 2% since yesterday.

XRP/USD chart by TradingView

Looking at the 4H chart, XRP fell through the $0.2580 support level, which confirms the bearish mood of traders. In this case, the closest level of support is at $0.25. While the RSI indicator has not yet reached the oversold territory, the price might achieve that support level through the end of November. 

At press time, XRP is trading at $0.2571.

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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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