TOP 3 Price Predictions: BTC, ETH, XRP — Is It the Right Time to Enter the Market?

📈 Price Predictions
Sun, 01/19/2020 - 15:22
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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 changed its mood to bearish as the recent rise was absorbed just over a few hours. All top 10 coins are located in the red zone. The biggest loser is Bitcoin Cash (BCH) which recently was the top gainer. Currently, it is losing more than 10% over the last 24 hours.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The main information about Bitcoin (BTC), Ethereum (ETH), and XRP:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$156 995 296 074

$8 640,68

$35 219 700 233

-3,10%

Ethereum

ETH

$18 088 343 152

$165,43

$15 026 408 476

-2,92%

XRP

XRP

$10 137 065 423

$0,232215

$2 526 270 159

-2,58%

BTC/USD 

Our recent Bitcoin price analysis is coming true as the growth was rather a track for buyers before an expected sharp decline. 

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

On the daily chart, Bitcoin (BTC) has touched the MA 200. However, the rate sharply went down when the line crossed it. 

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Respectively, the growth was a fake one and the decline is supposed to continue. Summing up, the nearest crucial zone is $8,000. If bears keep pushing the rate lower, the mark will be achieved until mid-January.

Bitcoin is trading at $8,618 at press time.

ETH/USD

Although Ethereum (ETH) has declined along with Bitcoin (BTC), its position is more bullish in terms of the long-term perspective.

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

Applying Fibonacci retracement on the chart, the main altcoin is supposed to decrease to $150 (50%). Moreover, the line of the Relative Strength Index is looking downward, confirming the decline. In this case, the short-term scenario is bearish and if bulls cannot hold $150, the coin will move to $143.19 (38.2%).

Ethereum is trading at $163.52 at press time.

XRP/USD

Even though XRP has broken the long descending channel, its long-term scenario remains bearish. At the moment, the rate of the coin has decreased much less compared to Bitcoin (BTC), and Ethereum (ETH).

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

XRP is located within the ‘Wedge’ figure with the upcoming downward movement. The blue line of the MACD indicator is about to change to bearish and that will confirm the bearish sentiment. All in all, the coin might come back to the critical $0.20 mark at the beginning of February.

XRP is trading at $0.2306 at press time.

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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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