Cryptocurrencies price prediction: Bitcoin, Ripple & Litecoin - American Wrap - 17 October

BTC/USD technical analysis: There are some encouraging signs for the bulls

Bitcoin bulls have been through some pain recently but I am here to tell you its not all bad news.

The daily chart is showing some signs that the downward momentum may be slowing down. 

The relative strength index (RSI) indicator is making higher low waves while the price made a few lower lows. This is called bullish divergence and can sometimes indicate a change in trend.

XRP price analysis: XRP/USD bulls smash out of bullish pennant and retest

Ripple’s XRP price is holding gains of 4.85%, as the bulls return following two straight sessions of losses. XRP/USD is trading at the highest levels in almost 4 weeks, with the buyers attempting to regain control.

XRP/USD price action since the back-end of September has been trending to the upside, ever-so gradually. It came following a big beating from the bears, which was seen between 19 - 24 September.

Litecoin technical analysis: LTC/USD heading for $50, a breach could be very punishing

Litecoin price is trading in the green in the session by some 3.60%. 

LTC/USD remains very much vulnerable to downside risks as it sits below the breached bear flag. 

Should the daily press for a breakout and closure below $50, another wave of selling pressure may follow. 

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Bitcoin resumes the decline after a consolidation period

Bitcoin crashed below $8,700 and tested $8,550 during early Asian hours on Thursday. The coin moved outside the recent range and extended the downside into the end of the week. BTC/USD has lost 2% since the beginning of the day and 1% in recent 24 hours. 

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Altcoin segment: bullish war drums

Sunny King, the creator of the consensus protocol Proof of Stake (PoS), has stated in a recent interview that Bitcoin has a vital role as a reference value in the crypto-verse, but that the highest growth potential is in the Altcoin segment.

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ETH/USD hovers around $185.00, vulnerable to further losses

ETH/USD is trading at $185.27 at the time of writing, having recovered from the intraday low of $184.11. The second-largest digital asset with the current market value of $18.8 billion has lost 1.34% of its value since the beginning of Thursday and stayed mostly unchanged on a day-to-day basis. 

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Ripple price prediction: XRP/USD smashes below critical support of $0.2700 – Confluence Detector

Ripple’s XRP extended thee sell-off to $0.2633 on Thursday. The coin is moving in sync with the market, controlled by bearish sentiments. A sustainable move below $0.2700 support bodes ill for XRP's short-term forecast, making it vulnerable to further losses.

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Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast