Cryptocurrencies price prediction: Bitcoin, Ripple & Bitcoin Cash - Asian Wrap 04 Dec


Bitcoin price prediction: Complete absence of strong support levels could lead to the price plummeting below $7,000

The price of BTC/USD has dropped from $7300.95 to $7,170.75 in the early hours of Wednesday. The daily confluence detector shows a lack of any healthy support levels, indicating that the price may drop even further. Resistance levels lie at $7,260, $7,315 and $7,360.

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XRP/USD manages to hold the 0.22 level

Ripple is still recovering from the massive price fall on the higher timeframes. The bulls heavily defended the 0.20 level and now the price has managed to settle at 0.22. The daily candles are still looking bearish but on the hourly chart, the price has moved into the wedge pattern shown below.

 

BCH/USD bearish flag pattern break threatens return to $190

The cryptocurrency space is forced to deal with acute selling pressure mid-through the week’s trading. The declines' streak has not slowed down since Friday last week. For instance, Bitcoin Cash revisited $210 support from highs around $228. A shallow recovery tested $215 but failed to push towards $220 crucial hurdle.

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Cryptocurrency News Update: Bitcoin pushes above $9,400, altcoins calm down

BTC/USD has barely changed since the start of the day and gained nearly 1.2% on a day-to-day basis. The first digital asset is changing hands at $9,400 after a move to $9,445 during early Asian hours. 

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XLM/USD goes wild, stops short of $0.1000

Stellar (XLM), the 13th largest digital asset, has gone wild on Thursday. The coin hit $0.0990, which is the highest level since September 2019, and dropped to $0.0920 by the time of writing.

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BCH/USD bulls save strength before a move to $250.00

Bitcoin Cash (BCH) topped at $246.04 on Wednesday and retreated to $243.00 by the time ow writing. Despite some wild price gyrations, BCH has stayed mostly unchanged both on a day-to-day basis and since the beginning of Thursday.

More Bitcoin Cash News

XMR/USD surges over 3% on a daily basis

The crypto market is back in the red after a fruitful trading session on Wednesday. The larger cryptocurrencies are leading with retreat, especially for Bitcoin and Ripple.

More Monero News

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Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast

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