Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Ceremony of confusion, technically speaking

After several sessions of resisting to follow a downward path that the analyses indicated quite clearly, it was time to face reality and make it clear to the Crypto world where everyone is.

Today the technical analysis will focus on daily charts to broaden the focus and get a little perspective on what we can expect for the coming days or weeks.

In a first quick analysis, it is clear that Ripple plays in another technical scenario. The recent price hike places the XRP/USD in a scenario in which its position is defensive, as it is above important moving averages that will serve as solid points where to stop the fall.

On the opposite side, both Bitcoin and Ethereum were far from surpassing these moving averages after the bullish stretch, so they have much less potential support. As a positive point, both have long-term averages well above and when they turn upwards they will enjoy significant potential.

BTC/USD 1D

The BTC/USD is currently trading at the $6.412 price level, just above the $6.400 price congestion support. After two unsuccessful attempts to beat the SMA100, it is time to look for lower levels to encourage the entry of new money for future bullish attempts.

Below the current price, the first support is at the already commented price level of $6.400. Below this area there are two possible scenarios:

In the first one, the BTC/USD would remain within the bullish environment that stems from the June lows. For this scenario, the second and last support at the price level of $6.200. A firm close below this level should lead us to attach a high probability to the second scenario.

In the second scenario, the BTC/USD returns to the one dominated by the bearish channel that is born in the historical maximums, way back in December 2017. In this case, the second support is in $6.200, then we see the third support in $6.100, and this is the base of the great long-term bearish channel. In this scenario, there could be a bearish extension that would bring the price back below $6.000.

Above the current price, the BTC/USD has a first target at the price level of $6.565 (price congestion resistance). The second objective is the EMA50 at $6.631, after which the key level to be conquered is presented at $6.755 (SMA100 and price congestion resistance).

The MACD on the daily chart crosses slightly lower. Its position is just below the zero line and weakens the BTC/USD's resilience in the face of declines. Due to the low slope at the time of the line cut, the movement may need some time to be completed and to be able to look up again.

The DMI in the daily range shows the bears taking control decisively. The bulls, on the other hand, understand the moment very well and withdraw clearly. The ADX relaxes a little its fall but continues at exceptionally low levels. The chances of an increase in the trend level would come from the bearish side of the market.

ETH/USD 1D

The ETH/USD is currently trading at the $216 price level. During the bullish movement of the last few weeks, Ethereum could not even come close to any of the major moving averages, a very strong sign of weakness that should keep us on our toes.

Below the current price, the first support is at $196 (price congestion support). The second support is slightly above the year's lows at $170 (price congestion support). The bearish target for an aggressive move is $117. This price level is decisive because if the ETH/USD loses it the consequences could be fatal.

Above the current price, the first objective is to recover the $225 price level (price congestion resistance). From here, the ETH/USD has plenty of room to the next target of $260 (EMA50) as a resistance level prior to the truly important target of $271 (price congestion resistance).

The MACD in the daily chart continues to be cut up, albeit only slightly. The profile of the lines leads me to anticipate a possible bearish cut at the end of the week. The position of the lines below the zero line supports the weakness of the ETH/USD. There may be another possibility that the ETH/USD will react strongly to the rise and pass the zero line, but this is the least likely tactical scenario.

The DMI in the daily range shows bears taking a slight advantage over bulls that continue to retreat but without accelerating this movement. The ADX remains above level 20, so any trend can pick up speed. The DMI confirms the remote possibility of a sharp bullish turn.

XRP/USD 1D

The XRP/USD is currently quoted at the price level of $0,517. Ripple has lost the SMA200 at $0,529, but it remains close to the main average and can be retrieved at any time. The chart's structure is one of bullish continuity.

Below the current price, the first support is at the $0,505 price level. Then, the next support is $0,463, a vital level since if it is lost, the XRP/USD would see its upside potential diminished. Even so, in case of losing this key level, the XRP/USD would have important support at $0,44 (price congestion support), $0,43 (EMA50 and price congestion support) and $0,40 (SMA100).

Above the current price, the first target to recover the SMA200 at $0,529, then next resistance at $0,55 (price congestion resistance) and finally, third resistance at $0,60 (price congestion resistance).

The MACD on the daily chart is on the verge of a bearish cross. Yesterday's downturn has brought a lot of inclination so there may be both a rebound upwards and a fairly deep price drop.

The DMI in the daily range shows bulls that maintain absolute control. Their strength has decreased somewhat but they have a margin with respect to some bears that, despite increasing their activity a little, continue to be at a great distance from the bulls. The ADX remains at very high trend levels so, in the beginning, the bullish trend continues.

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