Top 3 Price Prediction Bitcoin, Ether, Ripple: BTC/USD fades and challenges Altcoins to take leadership


  • Dominance charts show a positive spin for Ether to the detriment of Bitcoin.
  • The technical structures also favour the project led by Vitalik Buterin.
  • XRP, the token of Ripple Ltd, fights to regain the $0.20 level and position itself in the race to the moon.

After a one-day break in the cryptocurrency market, the transfer of market share between Bitcoin and a large part of the Altcoin segment has resumed. 

The Bitcoin dominance chart shows an acceleration in the downward trend that started last March 25. The current bearish target points to the 60 level, a level not seen since June 19, 2019.

The technical structures of the market are favourable for the expected bullish breakout across the Crypto board. Still, the signal levels remain intact, which are, in the case of the ETH/BTC market manager pair, around the 0.027 level (point A on the ETH/BTC chart).

Market sentiment continues to improve and reaches level 21 now, according to the site alternative.me. This number is an "extreme fear" level, which gives an idea of the price expectations needed for this indicator to reach the opposite side of the emotional range.

 

ETH/BTC Daily Chart

ETH/BTC is currently trading at the price level of 0.0233 after confirming congestion support at 0.0228

The main moving averages increase their bullish profile, with the 50-day exponential moving average showing a significant improvement.

Above the current price, the first resistance level is at 0.0255, then the second at 0.0268 and the third one at 0.0275.

Below the current price, the first support level is at 0.0228, then the second at 0.0223 and the third one at 0.022.

The MACD on the daily chart continues to improve the bullish structure, although the excessive line separation at such an early stage may lead to price reversals and volatility.

The DMI shows that the bulls are losing momentum, although as the bears are also moving lower, it seems more a matter of timing than a change in the correlation of forces.


BTC/USD Daily Chart

The BTC/USD pair is currently trading at the price level of $7330 and confirms support in the long-term downward sloping channel ceiling. The main moving averages show a mixed position, with the 50-day Exponential Average curving higher while the 100-day and 200-day Simple Averages holding the downward trend at around $8250.

Above the current price, the first resistance level is at $7450, then the second at $7600 and the third one at $7750.

Below the current price, the first support level is at $7150, then the second at $6870 and the third one at $6600.

The MACD on the daily chart reaches the zero level, which always carries a resistance for the trend to develop. The slope and opening are strongly bullish, although it is very likely that it will lose slope and opening in the next few hours.

The DMI on the daily chart shows that the bulls are losing their upward momentum and are moving downward to find support at the ADX line, from where they may bounce back upwards. The bears continue to lose strength and are driving below 20 levels.


ETH/USD Daily Chart

The ETH/USD pair is currently trading at $171.2 and copies the figure already seen in the ETH/BTC pair. The price of the Ether is compressed between the 50-day Exponential Moving Average - acting as support - and the 200-day Simple Moving Average - acting as resistance. 

The main moving averages on the ETH/USD chart point slightly upwards, in contrast to the BTC/USD one.

Above the current price, the first resistance level is at $173, then the second at $180 and the third one at $190.

Below the current price, the first support level is at $164, then the second at $160 and the third one at $155.

The MACD on the daily chart has reached the 0 levels, increasing the probability to appears resistance in the coming hours. The slope and openness between the lines preserve a strong upward profile.

The DMI on the daily chart shows that the presence of the ADX line limits the bulls. The bearish move continues with the bearish momentum and the pair is now trading below the 20 levels.


XRP/USD Daily Chart

The XRP/USD pair is trading at $0.1999 and is struggling to conquer the resistance level at $0.20

The main moving averages show a flat profile, except for the 200-day Simple Moving Average which remains in a downtrend.

Above the current price, the first resistance level is at the price level of $0.20, then the second at $0.217 and the third one at $0.236.

Below the current price, the first support level is at $0.19, then the second at $0.179 and the third one at $0.171.

The MACD on the daily chart has reached the 0 levels of the indicator, which is a barrier to bullish development. The opening and tilting between the indicator's lines preserve the bullish configuration.

The DMI on the daily chart shows how the bulls are moving above the ADX line but losing bullish momentum and looking for support in the trend indicator – the ADX. Bears continue to lose strength smoothly.


Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

BTC/USD: Sellers continue to lurk above $11,800, $12K still on cards?

Bitcoin consolidates the rebound on Sunday before the next leg higher. A test of $12K mark remains inevitable amid a potential symmetrical triangle. Upside remains more compelling, in light of a bunch of healthy support levels.

More Bitcoin News

LINK/USD consolidates the 52% surge to record highs of $13.66

Massive short-squeeze sent ChainLink skyrocketing on Saturday. The explosion higher lifted LINK/USD to the sixth most dominant crypto asset. Bulls take a breather after the extensive rally, what’ next?

More Cryptocurrencies News

ETC/USD storms towards $7.20 after symmetrical triangle breakout

The pullback in Ethereum Classic (ETC/USD) from $6.8844 appears to have gathered steam this Sunday, as the coin sees a rapid rise to the intraday highs above $7.15. The coin charts symmetrical triangle breakout on hourly sticks.

More Ethereum Classic News

Top 3 Price Prediction BTC, ETH, XRP: Crypto bears dominate, Ripple breaches $0.29

Ethereum is the main laggard among the top three cryptocurrencies on Sunday. Ripple breaches $0.2900 after rejection just below $0.30. Bitcoin continues to keep its range below the critical barrier at $11,817,

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC hit the pause button before a decisive breakthrough

Bitcoin lived through a wild roller-coaster move during the previous weekend. The coin hit the new 2020 high above $12,000 and crashed to $10,500 in a matter of hours. 

Read the weekly forecast

BTC

ETH

XRP