Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto bears dominate, Ripple breaches $0.2900
|- Bears return on Sunday as altcoins continue to remain favorites.
- Bitcoin battles $11,800 to regain the upside momentum.
- Ethereum and Ripple break below key support levels.
The most favorite crypto coin, Bitcoin, is trying hard to take out stiff resistance just above $11,800, in order to test the $12K mark. Ethereum is the main laggard among the top three cryptocurrencies on Sunday. Ripple breaches $0.2900 after rejection just below the $0.30 barrier. The total market capitalization of the top 20 cryptocurrencies now stands at $356.41 billion, as cited by CoinMarketCap.
The top 3 most favorite digital assets remain on the back while heading into a fresh week, with FXStreet’s Confluence Detector tool indicating how they are positioned technically.
BTC/USD: $11,817 is a level to beat for the bulls
Bitcoin continues to keep its range play intact below the critical barrier at $11,817, the confluence of Fib 38.2% 1D, Bollinger Band 4H Middle and SMA5 4H.
The bulls will face an uphill task despite the break above the latter, as a bunch of minor resistance levels are placed around $12,000, where the previous week high and Pivot Point 1D R2 coincide.
Alternatively, minor support around $11,590 caps immediate downside. That level is the intersection of the Fibonacci 61.8% 1W, Bollinger Band 4H Lower and Previous Day Low.
A failure to resist above the aforesaid support, the selling pressure will likely accelerate towards the next cushion aligned at $11,470, the convergence of the Pivot Point 1D S2 and the previous month high.
ETH/USD: Bearish bias intact while below $392
According to Ethereum’s near-term technical view, the bearish bias remains intact while the spot trades below the critical resistance at $392, which the intersection of the Pivot Point 1M R1 and Fib 38.2% 1D.
The next upside target is located at $396.75, the confluence of the Fib 23.6% 1D, SMA5 4H and Bollinger Band 1H Middle.
To the downside, a cluster of resistances is stacked up near $388/386, which is the convergence of the Fibonacci 61.8% 1D, Bollinger Band 1H Lower and SMA200 1H.
XRP/USD: Path of least resistance is to the downside
Ripple extends the break below $0.2900 this Sunday, with the immediate support seen at the Pivot Point 1D S2 at $0.2876.
Amid a lack of healthy support levels below the latter, the sellers will then aim for $0.2785, the Fib 61.8% 1W.
Any recoveries will likely face stiff resistance at $0.2907, the convergence of the Pivot Point 1M R1 and Bollinger Band 15-minutes Lower.
A break above the last will call for a test of $0.2950. Further north, the 0.2983 will be on the buyers’ radar. At the level, the Fib 38.2% on 1D and 1W coincide.
See all the cryptocurrency technical levels.
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