Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Fear lives on in the crypto market
|- Despite the limited falls, fear leads market sentiment.
- Ripple has chances to surprise on the upside, targeting $0.213.
- Market shows no direction in the short term.
The market falls back to sleep after the scare of the beginning of the week and leaves prices adrift waiting for a new surprise move.
The BTC/USD pair failed to close within the bullish quadrant on the chart yesterday, remaining now within an expansive triangular structure that offers ample room for the development of the Bitcoin price in the run-up to the end of the year. On the upside, the ceiling is at $18400, while the maximum target on the downside is $7300.
Source: alternative.me
Market sentiment remains weak, with today's reading at 39 (fear) from yesterday's 38. This market remains fearful and finds it very difficult to look favorably at the price development in the short term.
ETH/BTC Daily Chart
The ETH/BTC pair is currently trading at 0.02246 after a slight rise yesterday and today following the opening of the Asian market. The price continues to fall below the price congestion resistance at 0.025, as the triangular pattern in the price narrows and potential breakout approaches.
Above the current price, the first level of resistance is at 0.025, then the second at 0.0252 and the third one at 0.026.
Below the current price, the first support level is at 0.0235, then the second at 0.0225 and the third one at 0.0221.
The MACD on the daily chart continues to show an active bearish cross but does not yet have the necessary slope or opening to see a significant downward movement.
The DMI on the daily chart is a perfect representation of the bearish, neutral situation. The bears are barely holding above the ADX line and are returning to the level of the bulls. A violent breakout is possible in either direction.
BTC/USD Daily Chart
The BTC/USD pair is currently trading at the price level of $9486, just above the price support/resistance price level of $9475. The opportunity for Bitcoin to move into a fully-fledged bullish scenario is fading away, and only a robust bullish reaction could turn it around from the current neutral scenario.
Above the current price, the first resistance level is at $9600, then the second at $10400 and the third one at $11350.
Below the current price, the first support level is at $9470, then the second at $9100 and the third one at $8550.
The MACD on the daily chart continues to crawl above the neutral level of the indicator, crossing downwards but with a very flat and dull profile. The most likely exit from the current structure implies a considerable increase in volatility.
The DMI on the daily chart shows the bears retaining the advantage gained in the last few days, which does not prevent the bulls from continuing to be at optimal levels for an attack on the bearish positions.
ETH/USD Daily Chart
The ETH/USD pair is currently trading at the $234.7 price level and is managing to stay in the upper range of the current structure. The primary bullish trend line, which comes from the December 2019 lows, offers support within the long-term bearish channel. The 200-day simple moving average is still moving at the $190 level, taking a very positive upward profile for the price.
Above the current price, the first resistance level is at $250, then the second at $267 and the third one at $285.
Below the current price, the first support level is at $230, then the second at $220 and the third one at $200.
The MACD on the daily chart continues to cross within the bullish zone of the indicator. The moving averages are suggesting an acceleration of the decline in the next few sessions.
The DMI on the daily chart shows bears finding support at the ADX line, from where they may move upward following a further downward trend in ETH/USD.
XRP/USD Daily Chart
The XRP/USD pair is currently trading at $0.1951 while the daily chart is showing a bullish trend as the pair has broken out of the very short-term consolidation zone.
Above the current price, the first resistance level is at $0.202, then the second at $0.212 and the third one at $0.237.
Below the current price, the first support level is at $0.186, then the second at $0.18 and the third one at $0.163.
The MACD on the daily chart shows an entirely flat profile with no out and direction. The MACD on the daily chart shows a completely flat profile, with no outside and direction.
The DMI on the daily chart shows bulls disabling the bearish pattern by losing support from the ADX line. The bulls are reacting to the bullish move and may try to take control of the pair in the next few days.
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