Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Key barriers stacked up on the road to recovery


  • Major cryptocurrencies are attempting a recovery, Bitcoin stays above $11,000.
  • Top 3 widely traded coins to face key resistances, keeping the upside capped.

The most dominantly traded cryptocurrencies are seeing a pause in the recent downslide, as the bulls lick their wound, wrapping up a volatile trading week. A break above the $ 12000 mark continues to remain elusive for the world’s no. 1 digital coin, Bitcoin, which stands at a market capitalization of $ 204.24 billion. The total market capitalization of the top 20 cryptocurrencies now stands at $296 billion, as cited by CoinMarketCap.

In order to gauge the key technical levels for trading the top 3 cryptocurrencies in the week ahead, let's understand what the Confluence Detector point out.

BTC/USD: $ 11,475 – a tough nut to crack

Having tested the 11,100 level, Bitcoin jumped back above the support-turned-resistance near 11,400 levels, but the upside lacks follow-through, as sellers continue to lurk near 11,475 region, the strong confluence of the 4-hour Simple Moving Average (SMA), hourly 200-DMA and Fibonacci 38.2% retracement of the daily price action.

If the bulls manage to break above the last, the recovery in the BTC/USD pair will gather steam, with 11,600 seen as the next resistance, where the Fibonacci 61.8% retracement of the monthly price action.

To the downside, should the price fail to hold the 11k barrier, fresh declines could counter te immediate support of the daily pivot and 4-hour SMA that coincide around 10,800/750 levels.

 ETH/USD: Focus on a close above $ 214 levels

Ethereum continues to get sold-off at higher levels above the 210 region, as buyers sense caution ahead of the critical resistance placed near 214.00 levels on the 15-minutes chart, the Fibonacci 23.6% retracement of the weekly decline. Buying interest is likely to intensify above that level, with the next upside targets seen at 217.46 and 219/220, 4-hourly 100-SMA and Fibonacci 38.2% retracement of the weekly decline.

On the flip side, the previous week’s low near 207 handle is key support. The next support will come into play at 204.10 region, the Bollinger band support on daily sticks.

XRP/USD: Path of least resistance looks to the downside

Ripple has managed to take out a cluster of resistances near $0.3000 - the previous high on the 15-minutes chart, Fib 23.6% retracement of the weekly decline and Fib 38.2% retracement of the daily price action. Above that level, next strong resistance aligns at $0.3050, the confluence of the 5-DMA and Fib 38.2% retracement of the weekly price action.

The path of least resistance is likely to be the downside, despite the latest recovery attempts, as the coin finds limited strong support levels capping the potential downslide. 0.2978 looks like the key support, the convergence of several SMAs on 15-minutes and hourly sticks.

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. 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.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction

SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction

The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.

More TRON News

XRP fails to break past $0.50, posting 20% weekly losses

XRP fails to break past $0.50, posting 20% weekly losses

XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22. 

More Ripple News

ImmutableX extends recovery despite $69 million IMX token unlock

ImmutableX extends recovery despite $69 million IMX token unlock

ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19. 

More Cryptocurrencies News

Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium

Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in

Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days? 

More Bitcoin News

Bitcoin: BTC post-halving rally could be partially priced in Premium

Bitcoin: BTC post-halving rally could be partially priced in

Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days? 

Read full analysis

BTC

ETH

XRP