Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto bears return starting out a fresh week


  • Bears are back amid a fresh selling wave across the crypto board.
  • Bitcoin eyes Thursday’s low amid lack of healthy supports.
  • Ethereum breaches key support, paving way for extra declines.

The most favorite crypto coin, Bitcoin, is battling $9000, having faced rejection at $9200. Ethereum is the main laggard among the top four cryptocurrencies on Sunday. Ripple keeps its range below $0.1800, as it remains on track for a 1.50% weekly loss. The total market capitalization of the top 20 cryptocurrencies now stands at $258.99 billion, as cited by CoinMarketCap.

The above widely traded coins are under pressure heading into a new week, with FXStreet’s Confluence Detector suggesting key support and resistance levels to watch out for.

fxsoriginal

BTC/USD: Sellers continue to lurk below 9200

Amid broader market weakness, Bitcoin continues to trade below the critical barrier at 9183, the confluence of Fib 61.8% 1D, Bollinger Band 1H Middle and SMA 200 1H.

The immediate hurdle above the latter is aligned at 9233, where Fib 23.6% on 1W, 1M and Bollinger Band 1H Upper intersect. Buyers will directly aim for the upside target of 9465, the convergence of Fib 38.2% 1M and Pivot Point 1W R2.

To the downside, the bulls should find minor support around 8950, Pivot Point 1D S3, Bollinger Band 1D Lower and Previous Week Low.

A failure to resist above the aforesaid support, the selling pressure will likely accelerate towards 8525 amid a lack of significant supports.

 ETH/USD: Path of least resistance is to the downside

According to Ethereum’s near-term technical view, the ETH weakness is back in vogue after the bears cracked the 200-HMA support at 226.44.

The price has breached Thursday’s low of 223.31, as it tested the next support at 218, the Pivot Point Daily S3. Further south, 210 is the critical level, which is the Pivot Point S2 on weekly.

Alternatively, a cluster of resistances is stacked up at 228, which makes it an uphill task for the bulls to scale on any pullbacks. That level is the confluence of the Fibonacci 38.2% 1W, Bollinger Bank 4H Middle and Fibonacci 61.8% 1D.

XRP/USD: Battle lines well-defined, range play to extend

Ripple is ranging in a tight band around 0.1770 so far this Sunday, with the immediate upside capped at 0.1788, the major confluence zone of the daily high, Fib 38.2% 1W, SMA10 4H, Fib 61.8% 1D and SMA200 1H.

Bulls will continue to struggle on a break above the latter, a bunch of minor resistances aligned between 0.1790-0.1815 levels, where the previous day high, Fib 23.6% 1M, Fib 23.65 1W and Fib 38.2% 1D coincide.  

The next significant resistance located at 0.1870, the convergence of the Fib 38.2% 1M and pivot point 1W R3, is the level to beat for the bulls.

To the downside, the bears challenge the key 0.0.1750 support, the intersection of Fib 61.8% 1W, previous year low and Bollinger Band 1H lower.

A break below the last would call for a test of a minor cushion at 0.1734 (previous week low). Further south, the 0.1697 will be on the sellers’ radar. At the level, the previous month low and pivot point 1W S2 meet.

See all the cryptocurrency technical levels.

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