TOP 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC gets to first base, ETH & XRP on the run


  • The BTC/USD conquers the EMA50 and saves the first Match Ball.

  • ETH/USD and XRP/USD fall short in their attempt and now wait for a second wave to hit the target .

The Crypto market saw 12B/$ in new investments yesterday after some positive market commentaries. This money inflow arrives at the right time to help the main Cryptocurrencies to abandon the critical levels they reached last week.

Now, Bitcoin has a unique opportunity to return to form and lead the charge.

BTC/USD 240 Min

The BTC/USD is quoting now at $6,705, slightly above the EMA50 and well positioned to move upwards if Crypto investors feel that the “Long” is gone.

Upwards, next target by price congestion at $6,850 from where it could have an opportunity to reach the SMA100 into the $7,050- $7,000 area. Right above this level, it waits for another price action significant level at $7,100.

For the bear side, if BTC/USD loses the EMA50 support, it will quickly be back to the $6,600 range before retesting the $6,400 as the last chance before entering into a full bearish scenario.

The MACD at 240-Min chart is moving above the zero line but needs to gain height to attract more favorable returns. The typical behavior pattern for this setup tells us to look for a sideline development in the short term.

The Directional Movement Index at the 240-Min chart shows us how the buyers are now in control and have also conquered the ADX line. It is a traditional pattern that adds probabilities for a continuation of the upward movement.

ETH/USD 240 Min

The ETH/USD spent the Asian session above the EMA50 but below the upper trend line of the bearish channel. Today, Ethereum is breaking it up at the opening of the European session. It does not have an easy scenario ahead, due to a price congestion resistance tagged to the breaking point at $520 that should break higher to get options to assault the SMA100 at $545. If all of these prerequisites were gone, the price congestion level at $565 would be an excellent target for a first swing.

The MACD at 240-Min chart shows us a profile quite similar to the BTC/USD, perhaps with less of an upward slope, but that will be enough to follow the market upside momentum.

 The Directional Movement Index at the 240-Min chart shows how the buyers have taken control and surpassed the ADX, which would also help to add support to the uptrend. Sellers are withdrawing, but they are still above the 20 level, waiting for a trend confirmation before retiring further.

XRP/USD 240 Min

XRP/USD did not conquer the EMA50 yesterday, although it was able to break up the bearish trend, which leads the downtrend from highs. Today, Ripple has not achieved yet the exponential average, which is moving around $0,55, slightly above a price congestion level placed at $0,54. Further above, a critical price level at $0,584 awaits, and that would be the right place to rest before further advances.

On the sell side, XRP/USD has no ground until the $0,52 level, the primary target, leaving the $0,50 level as the “red thin line” to look.

The MACD at 240-Min chart shows us a less developed indicator, still below the zero line. Its Crypto counterparts could favor this technical setup if the uptrend consolidates, but that could bring some headwinds if markets turn back down again.

The Directional Movement Index at 240 Min shows us a dead heat between buyers and sellers that should bring a "tie-breaker" it in the next hours. The ADX is far above, so if Ripple wants to have its invitation to a possible bull party, it should find an afterburn output system which moves it faster upwards.

 

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 & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC/USD may hit $8,000 soon if SMA50 daily gives way

BTC/USD hit the intraday high at $7,460 and retreated to $7,270 by press time. Despite the downside correction, the coin is moving within a short-term upside trend amid low volatility.

More Bitcoin News

Ripple Price Analysis: XRP/USD breaks above $0.19, bulls aims for $0.20 next

XRP/USD bulls are well and truly in control as the price has risen from $0.1794 to $0.1955, going past crucial psychological levels at $0.18 and $0.19. To continue this upward momentum, the bulls must go ...

More Ripple News

Ethereum Price Analysis: ETH/USD skyrockets above $170.00, next target $200.00

ETH/USD jumped above $176.00 during early Asian hours as the bullish momentum increased after the coin broke above the psychological $150.00.

More Ethereum News

EOS Price Analysis: EOS/USD bulls aim to take the price above $2.80

EOS/USD had a hugely Monday as the price jumped from $2.35 to $2.76. The price has increased a little more to $2.794 in the early hours of Tuesday. The bulls also managed to break past ...

More EOS News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC breaks its ties with stocks, strives to return its safe-haven status

Most part of the week Bitcoin has been on the recovery path. Slowly but surely the coin left $6,500 behind and even tested waters above $7,000.

Read the weekly forecast

BTC

ETH

XRP