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Cryptocurrencies price prediction: Bitcoin, Ethereum & Ripple - Asian Wrap 16 Dec

Cryptocurrencies price prediction: Bitcoin, Ethereum & Ripple - Asian Wrap 16 Dec
FXStreet TeamFXStreet TeamFXStreet

Bitcoin Price Analysis: BTC/USD consolidation lags triangle breakout

Bitcoin remained under pressure during the entire weekend session. The attempts made to stay above $7,200 support failed, leaving to the path of least resist ace to be below $7,000. Bitcoin’s immediate upside is limited by the 50 SMA on the 2-hour chart.

Ethereum Price Update: ETH/USD defends $140 support yet again

Ethereum is largely unchanged compared to the levels towards the end of last week. The pressure oozing from the bears continued across the weekend session. Besides action beyond $145 remained limited. On the other hand, sellers forced ETH/USD against the critical support at $140 with an aim of seeing Ethereum back to November lows at $138.48.

Ripple Price Analysis: XRP/USD spirals in freshly reignited downward momentum

Ripple has ignited the bearish momentum breaking the weekend-long support at $0.2160. The losses come after an attempt to break out from the descending channel resistance failed. Besides that, the 100 SMA on the 1-hour chart made the channel resistance strong and unbreakable.

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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