Cryptocurrencies price prediction: Bitcoin, Ripple & Neo - Asian Wrap 05 Dec


Bitcoin price prediction: Lack of healthy support levels could see BTC/USD drop even further

BTC/USD bears came out on top for the fifth straight day, going down from $7,305.45 to $7,232 this Wednesday. The hourly breakdown shows us that Bitcoin plummeted from $7,491.40 to $7,197.50 in just one hour. As per the daily confluence detector, there are no healthy support levels on the downside, indicating that a further price drop may be around the corner.

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Ripple price analysis: XRP/USD keeps getting knocked down by the downward trending line

XRP/USD has dropped slightly from $0.214 to $0.213 in the early hours of Thursday. The daily price has repeatedly been thwarted by the resistance provided by the downward trending line. The price is floating below the 200-day Simple Moving Average (SMA 200), SMA 50 and SMA 20 curves.

 

Neo technical analysis: NEO/USD has fallen by 10.25% over the last five days

NEO/USD has fallen from $9.75 to $8.75, dropping by 10.25% over the last five days. The daily price is trending in a downwards channel formation and floating below the 200-day Simple Moving Average (SMA 200), SMA 50 and SMA 20 curves. The Relative Strength Index (RSI) indicator is around 36.

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Why is the market falling today?

The trading week is coming to an end, and the crypto market leaders seem to be inviting people to go on holiday and come back in a few weeks to see if anything has happened by chance. The current low volatility is never comfortable for the active trader, aware that today's extreme calm is the prelude to an explosion of instability in the future.

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ADA/USD regains ground after sharp sell-off, further recovery is limited

Cardano (ADA) lost over 6.5% of its value on Thursday as the cryptocurrency market moved into red territory. At the time of writing, ADA/USD is changing hands at $0.1228 after a short-lived move to $0.1181.

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ETH/USD succumbs to selling pressure and drops to $230 after major Twitter hack involving crypto

Ethereum has dropped to $230 after a significant sell-off following the recent Twitter hack. The attacker targeted all major cryptocurrency exchanges followed by prominent figures...

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XTZ/USD recovers from a sudden drop below $3

Tezos is still trading inside a massive daily uptrend and is not facing a lot of resistance until $4. The current daily candlestick is a bullish one, especially if the buyers can hold Tezos price above $3.24. 

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BEST CRYPTO BROKERS/EXCHANGES

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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