TOP 3 Price Predictions: BTC, ETH, XRP — Is Long-Term Bull Run Approved?

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TOP 3 Price Predictions: BTC, ETH, XRP — Is Long-Term Bull Run Approved?
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 keeps setting new heights in 2020. If, earlier, Bitcoin grew against the decline of altcoins, now, the situation is completely different. All top 10 coins are in the green zone and some crypto, such as Bitcoin Cash and Bitcoin SV, are showing even better price dynamics.

Top 10 coins by Coinstats

Keep an eye on the key data of Bitcoin, Ethereum, and XRP.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$155 548 251 461

$8 565,47

$30 206 826 429

2,25%

Ethereum

ETH

$16 603 686 984

$151,95

$10 556 380 442

5,24%

XRP

XRP

$9 603 283 325

$0,221446

$1 710 364 945

4,74%

BTC/USD 
Our weekly price prediction has come true as the price of Bitcoin has surpassed the $8,400 mark. 

On the daily time frame, one can see how the pulse broke through the upper border of the descending blue channel. In this channel, the price of Bitcoin has been declining for six months, after the annual maximum of 2019, which was established on June 26, at around $14,000.

BTC/USD chart by TradingView

Today, BTC is likely to re-test the resistance of $8,800. If, after a rollback from the maximum zone, the upper border of the channel supports the pair, then traders will witness a price exit from the semi-annual downtrend.

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If the price returns to the channel, then it is too early to talk about a trend change.

Bitcoin is trading at $8,490 at press time.

ETH/USD

Yesterday, the price of Ethereum stayed in the area of the hourly moving average EMA55. At the end of the day, there was a weak attempt by buyers to overcome the resistance of $144, but it ended with a pullback to the level of average prices.

ETH/USD chart by TradingView

Tonight, a strong bullish impulse knocked the price out of its sideways trend and broke the maximum of last week at around $150. During the day, Ethereum could reach $152; however, this is unlikely as the coin is already overbought. In this regard, the more likely scenario is a correction to $148. 

Ethereum is trading at $151.97 at press time.

XRP/USD

Yesterday, buyers were able to gain a foothold above the average price level and stayed there until the end of the day. Tonight, a bullish impulse broke through the resistance of $0.215 and set a maximum of around $0.2250. The price of XRP has not yet broke the annual maximum, which it already managed to set on January 7 in the area of $0.226.

XRP/USD chart by TradingView

In terms of the short-term price projection, XRP might face a rollback as one of the last bullish candles was closed with a long wick. Respectively, the closest stop is the support zone at $0.22.

XRP is trading at $0.2212 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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