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TOP 3 Price Predictions for BTC, ETH, XRP: Should We View the Current Pump as a Reversal Sign?

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  • Denys Serhiichuk
    📈 Price Predictions

    Was the today's sharp rise the start of the bull market?

TOP 3 Price Predictions for BTC, ETH, XRP: Should We View the Current Pump as a Reversal Sign?
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 rocketed up as Bitcoin (BTC) rose from $7,300 to $7,800 in just a few minutes. Respectively, the general mood has switched from a bearish tone to a bullish one as all of the top 10 coins are in the green.

Top 10 coins by Coinstats

Here are how the positions for Bitcoin (BTC), Ethereum (ETH), and XRP (XRP) are looking today:

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$135,562,629,098

$7,496.78

$18,870,981,937

1.77%

Ethereum

ETH

$16,318,600,089

$149.99

$7,306,406,754

1.94%

XRP

XRP

$9,519,379,066

$0.219920

$1,312,180,687

0.59%

BTC/USD 

The prediction that was made a few days ago is justifiable as BTC could rise the above $7,600 mark.

BTC/USD chart by TradingView

Looking at the 1H chart, BTC showed abnormal growth. However, this was a pump rather than the start of a bullish trend. The candle's wick is almost the same size as the "body", meaning that a fast decline may occur.

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In this particular instance, the nearest support level for BTC is around the $7,400 mark.

At press time, BTC is trading at $7,471.

ETH/USD

ETH followed the same path as BTC as the rate for the largest altcoin shot up by almost 6% over the course of a few minutes.

ETH/USD chart by TradingView

While ETH has copied BTC's price movement, it is unlikely to fix growth. With regards to the nearest price scenario, ETH may go below the $150 mark as the relative strength index (RSI) indicator shows that it is oversold. In short, the growth was just a pump as the trend remains bearish.

At press time, ETH is trading at $150.22.

XRP/USD

XRP reacted the least on the sharp rise in price for BTC.

XRP/USD chart by TradingView

Significant trading volume occurred during the sharp increase; however, XRP is currently trending downwards. As for the nearest price forecast, one should expect an update of the $0.22 level. Moreover, the Bollinger Bands confirm a continuation of bearish sentiments.

At press time, XRP is trading at $0.2212.

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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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Bitcoin Price Momentum Could Be Crossing into Bullish, Willy Woo Trader Explains Why

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  • Yuri Molchan
    📰 News

    The trader Willy Woo says that investor momentum is turning bullish and that the market is preparing for the upcoming halvening in May

Bitcoin Price Momentum Could Be Crossing into Bullish, Willy Woo Trader Explains Why
Cover image via u.today

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 well-known trader Willy Woo has posted some good news to the community. On his Twitter account, he has published a chart that refers to on-chain analysis and says that it shows a bullish rise of investor momentum regarding Bitcoin.

“The bottom is mostly likely in, anything lower will be just a wick in the macro view.”

The market has started preparing for the approaching Bitcoin halving that is due in May next year, he explains.

Meanwhile, on Friday, the Bitcoin price managed to regain the $7,400 level. At press-time, as per the data from CoinMarketCap, Bitcoin is sitting at $7,576.

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The crypto analyst @CryptoMichNL believes that Bitcoin is going to surge to the $8,000 - $8,200 area soon. However, he adds that after that BTC may well drop back to $6,800 or even to $6,500.

Standard crypto games, he calls it.

Some, however, remain in doubt, whether the halvening of 2020 will get the BTC price to rush North.

 

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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