Top 3 Bitcoin, Ethereum & Ripple price prediction: Staring down the cliff on a precarious stance

The current Cryptocurrencies market situation makes me think about how emotions affect trading. During the most critical and pessimistic situations, when lots of traders surrender, there's another side of the market, a smaller number with bigger capitals, that goes fully in.

We can't say that such moment has arrived, there's not enough clarity to say so consistently. So Cryptos are likely staring down the cliff.

BTC/USD 4H chart

Bitcoin has reacted slightly to the upside after the strong falls suffered over the weekend. It reached for a few minutes the resistance level at $6850 to then go back below there in the European opening.

The technical new picture of Bitcoin is framed by a bearish channel that is itself, inside another channel of a bigger range, slightly bearish and with its base around $6400.

To reach this level, BTC/USD only has a price support at $6590, so being able to conquer the current resistance at $6850 would be really important for the bulls. On the other hand, if Bitcoin loses the $6400 level, the technical scenario will be extremely negative in the long run.

The bulls have lots of work to do, as they face several key resistances. The first one is at $7110, followed by the 50-EMA at the $7280 level. The next one, a very strong resistance level, the 100-SMA plus a price congestion level, with the upper side of the smaller bearish channel at $7400. This is the key level, so everything remains on a $1000 range, a wide but very common range for the biggest cryptocurrency.

MACD in the Bitcoin 4-hour chart shows a bullish profile, but a failure pattern is not out of the cards and that would send the price lower. Still, this is a favorable setup for a bull run.

Directional Movement Index in the same chart shows the sellers losing some strength but the buyers have not made their move yet. Sellers remain in control and therefore, there is still bearish bias, with ADX at high levels backing the continuation of the trend.

ETH/USD 4H chart

The new technical picture of the Ethereum frames the price action inside an accelerated bearish channel, inside a bigger and also bearish (but slightly lateral) channel. As of now, ETH/USD is resting above a trendline that keeps the price close to the roof of the smaller channel, acting as a meaningful barrier for a possible bullish attempt.

There are not a lot of supports left for Ethereum, with the first one located at $520, where it meets the base of the smaller bearish channel. If that level is lost, next target and last support of the current scenario will be at $485, right where we can find a price congestion support and the base of the bigger channel. Below there, very bearish scenario for a longer run.

On the upside, the first and very important resistance is at $566, with a possible extension to $570, where it would meet the 50-EMA, and to $576, where the 100-SMA is located. Conquering these levels would send an important message, opening up the doors to a general change of outlook.

MACD in the Ethereum 4-hour chart shows a similar setup than the Bitcoin. Possible cross to the upside that might trigger a fakeout pattern that would take the price to lower levels.

Directional Movement Index in the same chart also shows how the sellers are losing considerable strength, without the buyers taking control though. Bearish continuation with important levels of trend, as the ADX has relaxed a bit but is not losing its strength.

XRP/USD 4H chart

Ripple has also been re-evaluated, looking for more clarity to the bearish picture. XRP/USD is trading inside a slightly bearish big channel, but also framed by a smaller an expansive triangle that could trigger some bullish action in the mid-term. Despite this positive note, the risks remain to the downside for Ripple, with only two meaningful supports separating it from the cliff and, on the other hand, lots of resistances to break if it wants to go back to neutral territory.

On the downside, the first support is at the price congestion level of $0.582. If that level is lost, the second and last support level is at $0.548, where a price congestion level and the base of the bigger channel meet.

On the upside, the first resistance is at the price congestion level of $0.60, followed by $0.6250, where we can find another of these resistances, the 50-EMA and the 100-SMA. Further on the way up, the 200-SMA at $0.65 is the barrier that would indicate another technical stage for the Ripple price action.

MACD in the Ripple 4-hour chart is looking for a possible cross to the upside, but we need to take into account a possible "MACD failure" pattern that would take the price to the downside, as the previous step for a real bullish leg.

Directional Movement Index in the same chart shows an identical profile to the other Cryptos analyzed. Sellers are diminishing but the buyers are not able to recover any strength. ADX has relaxed a bit but it is still at high levels, so the bearish trend is still there.