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📈 Price Predictions
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TOP 3 Price Predictions: BTC, ETH, XRP — Quotes Are Going Down. Is There a Chance for Recovery?

  • Denys Serhiichuk
    📈 Price Predictions

    Unfortunately, a miracle has not happened, and the market is red again. However, one can still benefit from it. Read our price predictions to find out how to do that

TOP 3 Price Predictions: BTC, ETH, XRP — Quotes Are Going Down. Is There a Chance for Recovery?

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.

Contents

The decline that started on Friday last week has intensified as the rate of the top coins returned to the positions of the previous months. Against the background of the absence of bad news, the market still managed to lose around $3 billion of the total capitalization.

If yesterday Ethereum was falling faster than Bitcoin and Ripple, its quotes have lost just 0.81% over the past 24 hours. In this regard, BTC’s domination rate has lifted and now is 54.9%.

BTC/USD

Even though Bitcoin enthusiasts are feeling positive about the future prospects of the leading cryptocurrency, its rate keeps declining. This is also confirmed by the increase of short positions which already prevail over longs on Bitfinex.

BTC/USD chart by TradingView

Getting down to the 4-hour chart, one can notice that from July 2018, we are still dominated by bears. However, if the formation of the Curve pattern happens, the price could reach the $5,750 mark, which serves as a breakout point. In the short-term analysis, buyers are still dominating the market from
April 2.

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As a whole, if the rate does not fall below $5,000, the possible scenario of reaching levels above $5,750 till the end of May is entirely possible.

The price of BTC is trading at $5,233 at the time of writing.

ETH/USD

The brainchild of Vitalik Buterin is struggling to get out of bearish tendencies; however, nothing fundamental has happened so far. Even the recent mentioning of Ethereum by Elon Musk did not give a powerful impetus to ETH’s rate. Sellers are consolidating their efforts, as the number of shorts on BitMEX surpasses longs.

ETH/USD chart by TradingView

Looking at the 30 minute diagram, ETH keeps trading sideways, and there are no vivid reasons for moving up or down in the long-term perspective.

However, in the short run, Ethereum is giving hope, trying to achieve a resistance at $157. Such a scenario can work out, as the MACD indicator is also going up.

The price of ETH is trading at $154.44 at the time of writing.

XRP/USD

It seems that there are no such fundamental factors that could push the price of XRP to new levels. Even after the published report about selling the highest sum of XRP in Q1 2019, the rate has not changed a lot.

XRP/USD chart by TradingView

Based on the 1-hour chart, the positions of Ripple look weak: buyers have no intention to buy XRP. Despite the fact that the RSI indicator is located near the oversold zone, traders should not expect a bounce back as the trading volumes have dropped by around $500 million over the last few days.

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If the quotes keep located in that zone, XRP will decline to the $0.29 mark.

The price of XRP is trading at $0.2939 at the time of writing.

Cover image via www.123rf.com
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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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