Home Ripple Top 3 price prediction Bitcoin, Ethereum, Ripple: Cryptos find a foothold and try to point to the Moon – FXStreet

Top 3 price prediction Bitcoin, Ethereum, Ripple: Cryptos find a foothold and try to point to the Moon – FXStreet

by admin
  • BTC/USD climbs more than 10% at close and reverses the technical situation.
  • ETH/USD fails to keep pace with King Bitcoin.
  • XRP/USD continues to decline, no ground in the short term.

Yesterday’s article highlighted the extreme overselling of the market and, therefore, the high probability that bargain hunters would appear. And they appeared.

The news jumped, with double-digit percentage increases, along with the crypto board.

The news of the day is the SEC proposal to extend the qualification requirements as a qualified investor.

Now, the requirements to be able to invest in hedge funds, private funds and alternative investments in the United States are only economic. Wealth and income point to the line. The SEC proposes that regulated and demonstrable academic training can give access to the rating.

This proposal would have a full impact on the crypto market, where many investment initiatives are beyond the reach of the small investor.

ETH/BTC Daily Chart

The ETH/BTC pair is currently trading at the 0.01785 price level and is suffering from a lack of momentum in the Ethereum that leaves it at the mercy of massive Bitcoin rebounds.

The long-term bearish trend line (A) is fast approaching, and for the moment, the feeling is more of a threat than of hope. 

Above the current price, the first resistance level is at 0.01867, then the second at 0.020 and the third one at 0.0217.

Below the current price, the first support level is at 0.018, then the second support level is at 0.0161 and the third one at 0.015.

The MACD on the daily chart points down, although with a profile that for now allows for a rebound to the upside. 

The DMI on the daily chart clearly shows an extreme situation. Bears are shooting higher and remain above the ADX line. The bulls, on the other hand, go to minimum levels and mark the worst record in history, only surpassed during the lows of 2017.

BTC/USD Daily Chart

BTC/USD is currently trading at the $7156 price level after crashing yesterday at the close of the long-term bearish channel (A). Bitcoin needs to escape this bearish figure, and I’m sure that when it does, it will fly off in the direction of the moon.

Above the current price, the first resistance level is at $7400, then the second is at $7525 and the third one at $7600.

Below the current price, the first level of support is at $7100, then the second is at $6850 and the third one at $6750.

The MACD meets expectations and turns and crosses in a bullish direction. The bullish profile is very smooth and there is hardly any opening between the lines, but the change from yesterday’s situation is complete.

The DMI on the daily chart is in line with yesterday’s pattern. The bears couldn’t get past the ADX line and bounce heavily downwards, with the same intensity as the bulls bounce upwards. The development of the technical pattern suggests that the bullish turn will occur in the next.

ETH/USD Daily Chart

The ETH/USD pair is currently trading at the $128.10 price level and forms a temporary floor at the base of the long-term bullish channel. Ethereum has no room underneath to evolve without risking its existence.

Due to the position and profile of the moving averages, the price could be in this zone for a couple of months, ranging between $150 and $200.

Above the current price, the first resistance level is at $130, then the second at $145 and the third one at $150.

The MACD on the daily chart persists in the bearish cross but does not increase either the slope or the openness between the lines. 

The DMI on the daily chart provides invaluable information. Bears are following the same bullish pattern as seen on the Bitcoin. Unable to get past the ADX line, they bounce down hard. Strangely, the bulls do not react to the rise, which makes me suppose that the bears still tried to surpass the ADX line a second time.

XRP/USD Daily Chart

The XRP/USD pair is currently trading at the $0.1892 price level and is close to the base of the bearish structure that has governed the XRP price since the beginning of 2018. If the price continues in this scenario, it will reach 2017 levels of $0.13 in March 2020.

Above the current price, the first resistance level is at $0.19, then the second at $0.217 and the third one at $0.25.

Below the current price, the first support level is at $0.175, then the second at $0.15 and the third one at $0.133.

The MACD on the daily chart maintains the bearish cross, although the slope and opening continue to be very small. A bullish turn is possible at any time according to this indicator.

The DMI on the daily chart shows bears bouncing upwards and then bouncing downwards without touching the ADX line. The bulls do not take advantage of the bear’s bearish rebound and remain at minimum levels.

Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

Let’s block ads! (Why?)



Source link

Related Articles

Leave a Comment

CAPTCHA ImageChange Image

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More