Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Altcoins push hard not waiting for a Bitcoin reaction


  • ETH/BTC is trading at recent highs and is looking to break out of the current range.
  • Bitcoin continues in pause mode and could wait for a pause in the upward trend of the Altcoin segment.
  • XRP is struggling to stay in the high price range and is disengaging from the strength demonstrated by the Altcoins.

The Altcoin market has only needed one business day to see prices rise sharply again. Bitcoin, still, has adopted the anchor function and for the moment is giving up the battle for the $10000.

The new week adds a candlestick to the weekly chart and allows us to plot the possible scenarios before us.

The main assets of the Altcoin segment are already moving above the short moving average – EMA 50 – and now have the SMA200 as their main target at 0.040 price level. 

The distances to this medium-term moving average allow us to venture that altcoins can reach this level in 4-6 weeks. The market will likely slow down due to the importance of the SMA200 as a resistance. Will that be the time to see Bitcoin rise? Possibly.

The master pair in the Bitcoin vs Altcoin ratio, the ETH/BTC pair, shows significant strength and is battling against the 0.0275 resistance. If brokes this resistance level, we could see a robust bullish explosion in the Altcoin segment.


ETH/BTC Daily Chart

The ETH/BTC pair is currently trading at the price level of 0.02708. The bullish strength shown so far by Ether against Bitcoin is attracting a lot of attention from traders looking for Beta against the BTC.

Above the current price, the first resistance level is at 0.029, then the second at 0.030 and the third one at 0.0315.

Below the current price, the first support level is at 0.027, then the second at 0.023 and the third one at 0.022.

The MACD on the daily chart is losing its upward momentum. The current resistance is beginning to weigh on the momentum, and it may be a good idea for the bulls to break through it as soon as possible.

The DMI on the daily chart shows the bulls losing momentum, while the bears are also losing momentum and moving away from the area controlled by the buy-side.


BTC/USD Daily Chart

BTC/USD is trading at the $9691 price level after finding support at the $9750 level.

Above the current price, the first resistance level is at $10500, then the second at $11500 and the third one at $13861.

Below the current price, the first support level is at $9750, then the second at $9150 and the third one at $8850.

The MACD on the daily chart completes the bearish cross and confirms the loss of upward momentum. Bitcoin can turn the upward trend around quickly, but at the moment it is entering a powerful bearish channel.

The DMI on the daily chart shows the two sides of the market-facing each other, placing the BTC/USD pair at a crossroads for which we don't know the resolution.

 

ETH/USD Daily Chart

ETH/USD is currently trading at the price level of $266 after recovering yesterday's support level of $250.

Above the current price, the first resistance level is at $290, then the second at $308.

Below the current price, the first support level is at $260, then the second at $250 and the third one at $238.

The MACD on the daily chart shows a profile before a downward cross in the next few days. If the price breaks through the resistance at $290, the indicator may renew its upward momentum.

The DMI on the daily chart shows that bulls are stopping the downtrend while bears are stopping the increase in trend strength.

 

XRP/USD Daily Chart

XRP/USD is currently trading at the price level of $0.284 and is seeking support at the previous consolidation level of $0.283.

Above the current price, the first resistance level is at $0.29, then the second at $0.30 and the third one at $0.32.

Below the current price, the first support level is at $0.283, then the second at $0.267 and the third one at $0.255.

The MACD on the daily chart completes the bearish cross and shows a continuity of short-term selling. 

The DMI on the daily chart shows the bulls losing strength quickly. The bears have also lost momentum in the last few hours.

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin is showing rising correlation with the S&P 500

Bitcoin is showing rising correlation with the S&P 500

Bitcoin and the crypto market have been in an uptrend since Wednesday following the Federal Reserve's decision to cut interest rates by 50 basis points. Bitcoin is up nearly 3% in the past 24 hours, rising briefly above the $63,000 level for the first time in three weeks.

More Bitcoin News
Ethereum rallies over 6% following decision to split Pectra upgrade into two phases

Ethereum rallies over 6% following decision to split Pectra upgrade into two phases

In its Consensus Layer Call on Thursday, Ethereum developers decided to split the upcoming Pectra upgrade into two batches. The decision follows concerns about potential risks in shipping the previously approved series of Ethereum improvement proposals.

More Ethereum News
Consensys case against SEC over Ethereum dismissed by Texas court

Consensys case against SEC over Ethereum dismissed by Texas court

Consensys announced dismissal of a case it filed against the SEC in April about the agency's alleged actions against Ethereum. Judge Reed O'Connor of the Northern District of Texas dismissed the case on Thursday. Consensys claims that the court failed to examine the "merits" of its claim against the SEC.

More Cryptocurrencies News
XRP eyes gains as Ripple gears up for stablecoin launch, Grayscale XRP Trust notes rising NAV

XRP eyes gains as Ripple gears up for stablecoin launch, Grayscale XRP Trust notes rising NAV

Ripple (XRP) gained 2.3% since the start of the week. The altcoin’s gains are likely powered by key market movers that include Ripple USD stablecoin, Grayscale XRP Trust performance and the demand for the altcoin among institutional investors. 

More Ripple News
Bitcoin: On the road to $60,000

Bitcoin: On the road to $60,000

Bitcoin price retested and bounced off from the daily support level of $56,000 this week. US spot Bitcoin ETFs posted $140.7 million in inflows until Thursday and on-chain data supports a bullish outlook.

Read full analysis
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

BTC

ETH

XRP