Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Lose your hand trying to catch this knife


  • Bitcoin price loses support from the $19,000 level.
  • Ethereum price shows the development of a strong bearish trend.
  • Ripple price produces a bearish death cross, signaling concerning times ahead.

The crypto market shows evidence of a strong developing downtrend. Key levels have been defined to gauge the strength of the decline.

Bitcoin price losing grounds

Bitcoin price currently trades at $19,181. The 8-day Exponential Moving Average (EMA) has put a halt to the uptrend rebound’s momentum. The rebound comes after an overnight decline, which pushed the Relative Strength Index into oversold territory. At the current time, it seems the bears have full control of the trend. If market conditions persist, a sweep of the summer lows at $17,880 could occur in the coming days. 

Invalidation of the bearish outlook could occur if the bulls reconquer the recently rejected triangle apex at $20,300. Said price action could be the catalyst to send Bitcoin price back to $24,300, resulting in a 22% increase from the current BTC price.  

tm/xrp/10/20/22       

BTC/USDT 30-Min Chart   

In the following video, our analysts deep dive into the price action of Ethereum, analyzing key levels of interest in the market. -FXStreet Team

Ethereum price shows bearish strength

Ethereum price has been rejected from the psychological $1,300 on October 20, 2022.  The rejection comes after a bullish attempt to hurdle the 21-day Simple Moving Average (SMA), which was abruptly denied. The move south prompted the bulls to lose grounds of the 8-day EMA as well.

Ethereum price auctions at $1,283. At the time of writing, it seems the Volume Profile indicator is slightly in favor of the bears on intra-hour time frames. The Relative Strength Index shows the last rebound occurred from a minor breach into oversold territory. The RSI’s moving averages are dually rejecting the indicator. Combining the indicators’ narratives could suggest the decentralized smart contract token is in the beginning stages of a developing impulse wave to the downside.

The bearish invalidation level is a breach above the October high at $1,383. If the bulls can accomplish this bullish event, a continuation rally into September high at $1,718 stands a fair chance of occurring. The ETH price would subsequently rise 36% from the current market value.

tm/eth/10/20/22

ETH/USDT 1-Hour Chart

In the following video, our analysts deep dive into the price action of Ethereum, analyzing key levels of interest in the market. -FXStreet Team

XRP price is underwater

XRP price currently auctions at $0.44 as Ripple has lost more than 5% of market value in a day's time. The 8-day EMA and 21-day SMA remain above the digital remittance token and have produced the anticipated bearish cross on Monday, October 17.

Now that the cross has occurred, liquidity levels near $0.40 and potentially $0.37 are in jeopardy of getting breached. The Volume Profile Indicator confounds the bearish notion as a significant influx of transactions has occurred during the recent 5% decline. 

invalidation of the bearish downtrend is a breach above $0.50. If the bulls manage to reconquer the $0.50 zone, an additional rally targeting September highs at $0.56 stands a fair chance of occurring. Such a move would result in a 24% increase from the current XRP price. 

tm/xr10/20/22

XRP/USD 4-Hour Chart

In the following video, our analysts deep dive into the price action of XRP, analyzing key levels of interest in the market. -FXStreet Team



 


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