Top 3 price prediction BTC, ETH, XRP: EOS comes out of the darkness and kicks off the bullish season

• EOS/USD breaks the bearish trend and enters a scenario of multiple options.
• The altcoins segment is making its moves while Bitcoin looks for fresh money.
• XRP/USD remains weak and may drop as low as $0.25 to look for solid support.

In technical analysis, charts represent the price footprint over time. 

In this trip over time and price, assets draw a path that is subject to specific rules and conditions that allow us to analyze it.

The charts are like a blank sheet in which the analyst detects and draws scenarios –  present and future. When a price exits a certain setup, a new one begins – but remains dependent of the past.

In today's Crypto Today article, I have highlighted the upward break in EOS/USD of the long term bearish trend line.

This break has generated a new scenario that – at least for now – enables an upward trend in the future – although it does not guarantee it.

 

EOS/USD daily chart.

The first precise observation of the change in course is the upward break of the long-term bearish trend line. The second point comes from the structure of the MACD, which shows a pattern of depletion in the short term. 

Graph structures of this type develop according to two patterns that carry high probabilities: 

- The price receives a new impulse and looks for the next resistance level, in this case, at the SMA200 price level of $4.60. In this scenario, the MACD bounces back up at the first cross attempt. The DMI on the daily chart supports this thesis, as the bulls remain above the ADX line.

- The buying side is exhausted after the bullish break of the bearish trend line. It then seeks support on the top of the bearish line and awaits the entry of new money attracted by the bullish break.

How to trade it:

- Above the $3.70 price level, we can take upward positions, with a primary objective of $4.60. The stop-loss protection for this trade at $3.33.

ETH/BTC Daily Chart

ETH/BTC remains upbeat.  The current price level is in the 0.0212 area has been a mid-point for months – generating significant resistance. 

Above the current price, the first resistance level is at 0.0213, then the second at 0.022 and the third one at 0.023.

Below the current price, the first support level is at 0.0206, then the second at 0.020 and the third one at 0.019.

The MACD on the daily chart shows a proper bullish inclination and enough openness between the lines to safely cross over to the bullish zone of the indicator.

The DMI on the daily chart shows that the bulls are moving into the bullish zone with a distinct advantage over the bears. The representatives on the selling side seem to give up and continue their way down.

 

BTC/USD Daily Chart

BTC/USD is currently trading at $8,734 after getting stuck under price congestion resistance at $8,750. The main moving averages are compacting around the $9,200 zone. Every day it is more likely to drop to the $8,000 environment where you will find fresh money.

Above the current price, the first resistance level is at $8,800, then the second at $9,200 and the third one at $9,350.

Below the current price, the first support level is at $8,400, then the second at $8,200 and the third one at $8,000.

The MACD on the daily chart prolongs the bearish cross but achieves minimal inclination and even less opening between the lines. If the zero level holds, the bearish scenario drops and we could see a robust upward rebound.

The DMI on the daily chart shows that the situation is neutral. Neither side of the market takes advantage of the other. The ADX line moves above both bulls and bears and highlights the lack of directionality of the BTC/USD pair.

 

ETH/USD Daily Chart

ETH/USD is right now the pure definition of compression. Today’s chart shows a small "Doji" compressed between the SMA100 and the EMA50, separated by just 2 dollars.

Above the current price, the first resistance level is at $186.7, then the second at $190 and the third one at $195.

Below the current price, the first support level is at $184.2, then the second at $180 and the third one at $170.

The MACD on the daily chart shows a slightly downward inclined profile. The separation between the lines is minimal, a sign of a lack of bearish strength.

The DMI on the daily chart indicates that the bidding side controls ETH/USD. Bears stay above the ADX line, which facilitates a possible leadership dispute.

XRP/USD Daily Chart

XRP/USD continues to show weakness and is trying, by all means, to stay above the $0.27 level and not enter weak support zones that could drag it down to the $0.25 level.

Above the current price, the first resistance level is at $0.276, then the second at $0.282 and the third one at $0.29.

Below the current price, the first support level is at $0.27, then the second at $0.267 and the third one at $0.257.

The MACD on the daily chart increases the bearish profile and the opening between the lines. We will likely see more price declines, even risking the relative lows at $0.205.

The DMI on the daily chart shows the bulls dominating, but they can't get lost for a moment, or the bears will take the leadership away from them. The ADX situation indicates low volatility, which may be beneficial for the XRP/USD pair.

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