Cryptocurrencies price prediction: Bitcoin, Ripple & Ethereum - Asian Wrap 11 Feb
|BTC/USD continues correction, however confluence detector shows a lack of strong resistance levels
The bears have been in control of the BTC/USD market since Monday. BTC/USD had fallen from $10,167.15 to $9,852.54 this Monday and has dropped further to $9785.45 in the early hours of Tuesday. There is a healthy support level at $9,585, which will look to prevent any further drop in price.
XRP/USD drops back down to $0.27 following substantial bearish correction
XRP/USD dropped from $0.282 to $0.274 this Monday and has fallen further to $0.27. XRP/USD previously tried to break above the $0.283 resistance line, but it charted a double-top pattern and fell down. The SMA 20 curve is about to cross over the SMA 200, so the upcoming market sentiment could be bullish.
ETH/USD digs into the bearish zone under $220 support
Ethereum price faces key resistance at $220 ahead of the main seller congestion zone between $300 and $320. The bulls remain relatively in control over the price despite the retreat from the recent high at $231. The break above the main trendline resistance still possesses the potential to face the medium-term resistance at $220 - $240.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.