TOP 3 Price Predictions for BTC, ETH, XRP: Endpoints of the Bearish Market?

Price Predictions
Wed, 11/20/2019 - 14:16
Denys Serhiichuk
Has the market finally reached the bottom for the cryptocurrencies?
Cover image via www.tradingview.com

The cryptocurrency market has kept its bearish price dynamics since the summer of 2019. A few days ago, the price of Bitcoin (BTC) suffered another price drop to the $8,000 level, which is where it is currently situated. As usual, the altcoins followed the trend of the top crypto. 

Top 10 coins by Coinstats

Below is the main data for Bitcoin, Ethereum, and XRP:

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$145,854,339,131

$8,076.98

$21,270,131,644

-0.11%

Ethereum

ETH

$19,255,587,387

$177.27

$7,456,349,925

-0.08%

XRP

XRP

$10,993,111,720

$0.253883

$1,431,023,776

1.94%

BTC/USD 

Our earlier price prediction for BTC has more than justified itself, as the rate has not reached the $8,200 mark. Instead, the price of BTC has declined to the $8,000 mark. 

BTC/USD chart by TradingView

Yesterday morning, the bears pushed the upper border of the corridor in an attempt to test the support level at $7,960. The relative strength index (RSI) on the 4H chart indicates oversold conditions. In other words, BTC could jump to the $8,400 mark before falling further in price.

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A bounce back above the aforementioned level might happen this week. 

At press time, BTC is trading at $8,076.

ETH/USD

Like BTC, Ethereum (ETH) has also facing a decline. However, it is more likely that ETH will return to the previous levels faster than BTC.

ETH/USD chart by TradingView

According to the chart, there is bullish divergence on the RSI. This is confirmed by the moving average convergence divergence (MACD) indicator, which is about to change the local trend to a bullish one. However, one cannot deny the possibility of a continuing drop in price, with the closest scenario reaching $177.

At press time, ETH is trading at $174.83.

XRP/USD

When the market mood was neutral, XRP (XRP) was going down. As of today, however, the price has shot up by almost 2% in the last 24 hours. 

XRP/USD chart by TradingView

The current rise in price could be considered a manipulation rather than the start of a possible reversal. The volume remains low, which a prerequisite for a continuing decline. The price may touch $0.2450, which will finish the creation of a "triangle" pattern. Traders may see the aforementioned scenario through the end of November.

At press time, XRP is trading at $0.2495.

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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