Cryptocurrencies price prediction: Ripple, Ethereum & Bitcoin - 21 August
|Ripple market overview: XRP/USD recovery dealt a massive blow, capped under $0.27
Ripple bears continue to drill holes in key support areas. Last week’s attempt to correct above $0.3 hurdle miserably failed to gain traction above $0.29. For this reason, the price action that followed has been strongly bearish endangering viable support areas.
At the time of writing, Ripple price is holding ground above $0.26 while the immediate upside is capped under $0.27. the prevailing trend is slightly bullish but inclined towards making sideways trading.
Ethereum market update: ETH smacks bulls in the face following trendline break
The bearish wave is not slowing down for the second day in a row. Ethereum’s failure to break above $205 hurdles seems to have killed bull’s confidence in the recovery. At the same time, this situation opened wide the gates for the bears to have a field day. Ethereum struggles to stay above $195 support yesterday bore no fruits as selling pressure skyrocketed.
The trendline break on hourly timeframe added gasoline into the fire. The armored bears successfully forced ETH through $190 support. However, $185 seems to be holding ground impressively. In fact, a correction is underway towards $190 support turned resistance.
Bitcoin price analysis: BTC/USD bulls fighting tooth and nail to defend $10,000 support
Bitcoin continues to prove many analysts’ predictions right. Especially those predicting that a drop to $9,000 is necessary before the next rally that might close in on $20,000. As predicted yesterday, Bitcoin broke out of the rising wedge pattern on the hourly timeframe.
The grandparent of cryptocurrencies successfully forced its way through the short-term support at $10,600. The losses smashed past the tentative support at $10,400 as well as the next support target at $10,200. An intraday low was formed at $10,083.85 following a more than 5% lower correction on the day.
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