TOP 3 Price Predictions: BTC, ETH, XRP — Have Bearish Sentiments Become More Powerful?

Price Predictions
Sun, 03/15/2020 - 14:05
Denys Serhiichuk
Should traders expect a profound decline for Bitcoin (BTC), Ethereum (ETH), and XRP next week?
Cover image via www.tradingview.com

The end of the most bearish week for 2020 is about to finish. The rates for all of the coins have dropped over the course of the week. However, some of the cryptos from the top 10 list have been in a positive price position over the last 24 hours.

Top 10 coins by Coinstats

Below are the key features for Bitcoin (BTC), Ethereum (ETH), and XRP and how they are looking today: 

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$99,294,185,595

$5,434.39

$31,968,175,874

-0.82%

Ethereum

ETH

$13,966,023,890

$126.84

$11,920,985,075

-2.37%

XRP

XRP

$6,775,862,712

$0.154636

$2,118,500,274

0.28%

BTC/USD 

Compared to the beginning of this week, Bitcoin (BTC) is trading relatively calm on the weekend. Looking at the 4H chart, the Relative Strength Index (RSI) remains unchanged as purchase and sale volumes decreased and narrowing the range for BTC trading between $5,517 and $5,021.

 BTC/USD chart by TradingView

Each 4H candlestick forms a lower maximum when the price decreases, but with the current Moving Average Convergence/Divergence (MACD) histogram and the RSI uptick, the market indicates an increase in positive momentum.

Such bullish divergences were a signal to the start of an earlier upward movement, and a fall in the trading volume and narrowing of the Bollinger Bands also indicate that the explosive movement must occur before the close of the week.

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If the price can break above resistance at $5,500 and return the previous support between the levels of $6,300 to $6,400, this will be an encouraging step.

Such a move could lead to a price increase above $7,750, which was observed before the last week's sale. In case of fixing this level, growth may continue up to $8,500.

At press time, Bitcoin is trading at $5,366.

ETH/USD

Ethereum (ETH) is falling faster than BTC. The chief altcoin has lost more than 2% of its value over the last day.

ETH/USD chart by TradingView

ETH has been trading sideways after its fall to $100. In terms of a short-term price forecast, one might expect a rise to $140 as the coin is already oversold and there was huge buying volume at the local bottom. However, it is just a correction of the decline and not the start of a bullish wave.

At press time, Ethereum is trading at $124.47.

XRP/USD

Despite the ongoing bearish sentiments in the cryptocurrency market, XRP is trying to show signs of growth. The rate of the third largest crypto has increased by 0.83% over the last day.

XRP/USD chart by TradingView

XRP is also oversold on the daily chart; however, the bearish sentiments have not disappeared so far as the MACD indicator keeps moving down. In this case, traders might soon expect a slight rise to $0.17 followed by a more profound decline to $0.1. The declining trading volume confirms the ongoing pressure by sellers.

At press time, XRP is trading at $0.1534.

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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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