Bitcoin, Ethereum and Ripple price prediction: bullish disappointment after another breakout failure

The top Cryptocurrencies have entered a tense calm situation. Bitcoin and Ethereum are still trading above the trendlines broken yesterday, but Ripple has failed to do so and has been rejected to the downside slowly but consistently.

It looks quite likely that Bitcoin and Ethereum might lose its current support and get back to a bearish scenario again.

BTC/USD 4H chart

Bitcoin is sliding down since yesterday, when it conquered and escaped from the bearish trendline. This is a very uncomfortable scenario for traders, as BTC/USD has gotten to a new technical scenario that favors new position-taking, but the current price action is just setting new relative lows with not much bullish action going on.

On the downside, there are very important supports at the 50-EMA located at $7599, the level that also matches with the trendline broken yesterday (now a support). Below there, we can find the next support at the 100-SMA, located around $7521. If we reach that level, Bitcoin would go back to the previous scenario and complicated its short-term development. Below there, a price congestion support would still remain at $7400.

On the bullish side, the first resistance is at $7860, as the previous step to an attack of the 200-SMA, now trading at the $8080 mark. It looks quite difficult to go further in the short term, as this is a very important moving average that provides a massive resistance.

MACD in the Bitcoin 4-hour chart is still on the bullish area of the indicator, showing a bearish lateral profile that perfectly reflects the price action.

Directional Movement Index in the same chart shows a technical tie between buyers and sellers. Both forces are below the 20 level that signals trend strength, with a very slight edge for the sellers. ADX is sinking, showing that there is no direction at all.

ETH/USD 4H chart

Ethereum is showing a very similar situation than Bitcoin, although it has been able to find support at the 50-EMA that has evolved better and is now above the trendline, giving ETH/USD some meaningful support. Anyway, there is still a considerable risk of losing these key supports, with ETH/USD likely visiting the 100-SMA, still below the trendline with an accentuated bearish profile.

On the downside, the first support is at the aforementioned 50-EMA, located at $695, with some distance to the second support, now located at $594. If that one was lost, ETH/USD would get back to the previous bearish scenario, which would take Ethereum to look for support in the price level standing at $565.

On the bullish side, the first resistance is located at $620, mid-way from the 200-SMA, the main bullish target located at $649. We could find a bit further up the road the price resistance at $659, although it seems unlikely that this will succeed, at least on its first attempt, as the 200-SMA provides a very important barrier.

MACD in the Ethereum 4-hour chart shows a very flat profile, with confirms the tight range that we have seen the last days. This is all the tactical information we can get from it.

Directional Movement Index in the same chart shows some edge to the sellers, that are trading above the 20 level that indicates trend strength. Buyers, despite being close, have not been able to overcome this level, which signals some weakness. ADX is plummeting and confirms the total lack of trend strength in the price action.

XRP/USD 4H chart

Yesterday, we described Ripple's scenario as a bit more positive than its counterparts, but stressing the closeness of the 200-SMA as a big resistance and the bigger distance from the most important supports at the 50-EMA and the 100-SMA. Today, these technical conditions are sending XRP/USD back to the 50-EMA, back to the bearish side of the chart and complicating the bullish outlook in the short term.

On the bearish side, the first support is located at the $0.664 price congestion level, with the 50-EMA moving a bit below at $0.655. Until this level, the damage for bulls would be limited, but if that is lost and keeps going down to the 100-SMA, right around $0.63, then the short-term projection would severely worsen.

On the bullish side, there are clear targets to re-conquer for the bulls at the trendline that is now located at $0.69. Before this one, it will need to break above the 200-SMA at $0.6760 and later overcome a price congestion resistance located at $0.68. These are pretty important barriers to break, so the bulls don't have an easy path.

MACD in the Ripple 4-hour chart has broken out its horizontal profile to the bearish side and now looks to find support at the equilibrium line. Bearish outlook for today's session, probably continuing over the weekend.

Directional Movement Index in the same chart shows the edge for the sellers for the first time since last May 29th, when XRP/USD was trading around $0.55. Both forces are barely above the trend existance level (20). ADX has lost such level by a bit, now is located around 19.8. Bearish lateral scenario.