Cryptocurrencies price prediction: Bitcoin, Ripple & Litecoin - American Wrap - 28 February


Bitcoin Price Analysis: Is this just a small blip?

Bitcoin is moving lower on Friday but it has found some short term support.

The BTC/USD found support at the 2.00 Fib extension level close to 8,500.

On the topside, the area to watch for resistance is marked in red.

This red zone has been used as support and resistance in the past and if broken could indicate the move lower was just a blip.

If the price bounces off there and moves down, this could indicate we are in the 3rd wave of an Elliott structure and more pain is to come. 

Bitcoin Elliott Wave

Ripple Price Analysis: XRP/USD is stuck in the middle of a very congested area

Ripple has had a serious fall from grace since hitting 0.3463 on February 15th.

Now the price has started to find some support at 0.2250.

This is a key level as it has been used in the past. 

Above this level 0.2525 has been used 7 times on this chart alone.

And below the current price, 0.2126 is the next major support.

Ripple price analysis

Litecoin Price Analysis: LTC/USD break of $50 would be devastating

Following the deadly evening star formation in the week of 14 February, downside pressure has been observed. 

LTC/USD daily chart

The price is consolidating, for now, following three deep sessions to the south for LTC/USD earlier in the week. 

litecoin daily chart ltcusd

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Editors’ Picks

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Bitcoin extended the recovery and hit the intraday high of  $11,617, At the time of writing, BTC/USD is changing hands at $11,570 with over 3.5% gains since the start of the day. 

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XRP/USD under $0.3000 after Ripple announces the investment in XRPL Lab

Ripple's XRP dropped below $0.30 after a failed attempt to settle above $0.3200 during early Asian hours. The coin has lost over 4% in the recent 24 hours and stayed mostly unchanged since the beginning of the day. 

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ETH/USD back on recovery track, $400.00 in focus

Ethereum, the second-largest digital asset came close to $400. If this psychological barrier is cleared, the price may retest the recent high of $415 and continue the recovery towards $450.

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Altcoin Market Update: ETC and XLM face continual bearish correction

ETC/USD bears stayed in control for the fourth straight day. ETC/USD is currently priced at $7.13. The sellers are looking to get the price below the $7-level.The RSI is trending horizontally around 59.46.

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Bitcoin Weekly Forecast: Fasten your seatbelts, next stop is $12,000

Bitcoin has had its best week since mid-2019. The first digital currency gained over 18% in a single week and hit the new highest level of 2020. At the time of writing, BTC/USD is changing hands at $11,358 and the upside momentum is gaining traction as Bitcoin bulls are pushing at the upper line of the weekly Bollinger Band. 

Read the weekly forecast

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