Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Altcoins are set up to hunt for Bitcoin


  • Among the main Altcoins, only Ethereum is yet to be crossed upwards.
  • XRP moves in another ecosystem and will not pull the market.
  • Libra may be positive, not a danger to the market.

 

It is the middle of summer in the northern hemisphere and the high temperatures warm the seas and generate humid currents that rise and generate perilous storms.

It seems that the cryptocurrencies market is becoming unstable. It is likely that in the coming days, we will see explosive movements among the Altcoins. 

The fact that Ethereum is not in the same phase as Litecoin, Ethereum Cash, or EOS concerning Bitcoin, as it is keeping all this upward pressure under control. In the technical section on the ETH/BTC pair, I explain in detail this scenario.

The market is acutely aware of the Facebook project, Libra, but I think it's not critical for the real Crypto market.

The dynamics of the Crypto market are not going to change, no matter how many problems Libra has with its conception and implementation.

 

ETH/BTC Daily Chart

 

The ETH/BTC pair trades at 0.0218, prolonging the uncertainty generated by seeing the price relationship between Ethereum and Bitcoin at such low levels.

At this moment, all technical analysis on the ETH/BTC should be looking at the MACD on the daily chart as we will see now.

Above the current price, the first resistance level is at 0.023 (price congestion resistance), then the second at 0.026 (EMA50) and the third one at 0.027 (double price congestion resistance).

Below the current price, the situation is complicated. The first support level is at 0.0201 (price congestion support) and there is a second at 0.016 (price congestion support). Below this price level, the ETH/BTC chart would enter terrain as unknown as its consequences in the entire Crypto universe.

 

 

The MACD on the daily chart is the protagonist of the day and probably of the summer season. It shows a heterodox bullish cross profile, that although you might see some rejection in the cross, will undoubtedly trigger an upward movement in the short and medium-term.

The DMI in the daily chart shows how the bulls have been increasing activity despite the low price levels. This behavior gives clues as to what happens beyond price. Bears have remained very horizontal and do not seem to rely on further declines.

 

Advertisement
Try Crypto Margin Trading on MetaTrader 5

 

BTC/USD Daily Chart


The BTC/USD pair is trading at $10.461 and has been playing for three days with the price congestion support level at $10.600. The current technical structure is very ambiguous and open to both sides of the market. 

The likely behavior is that of bearish continuity, reinforced by the favorable scenario for Altcoins, but there is some secondary scenario in which Bitcoin would move upward with the rest of the market.

Above the current price, the first resistance level is at $11,250 (price congestion resistance), then the second at $14,000 (price congestion resistance) and the third one at $17,000 (price congestion resistance). 

Below the current price, the first level of support is at $10,050 (EMA50), then the second at $9,800 (price congestion support) and the third one at $9,150 (price congestion support).

 

 

The MACD on the daily chart shows how the indicator has lost all bearishness when it reaches the 0 levels. This data informs us of the keen interest around Bitcoin when there is no patience in waiting for lower prices and buying at neutral levels.

The DMI on the daily chart shows an absolute tie between bulls and bears. To make the situation a little more confusing, both sides of the market move just below level 20, which subtracts all trend strength from the BTC/USD pair. It is a very ambiguous setup and should serve as a warning for what they want to act on the Bitcoin in the short term.

 

ETH/USD Daily Chart

 

The ETH/USD is trading at $221.5 and continues to be unable to beat the SMA100, which serves as the ceiling for the current movement. The pair may be favored by probably better relative performance against Bitcoin.

Above the current price, the first resistance level is at $235 (SMA100 and price congestion resistance), then the second at $248 (price congestion resistance) and the third one at $260 (EMA50 and price congestion resistance).

Below the current price, the first level of support is at $220 (price congestion support), then the second at $215 (price congestion support) and the third one at $205 (price congestion support).

 

 

The MACD on the daily chart shows how the indicator has lost the bearish bias. 

The DMI on the daily chart shows bulls increasing activity despite doubts, while bears lose strength and are set to cross down the ADX line.

 

Advertisement
Try Crypto Margin Trading on MetaTrader 5

 

XRP/USD Daily Chart

 

The XRP/USD is currently trading at the $0.3241 price level and loses support for price congestion at $0.33.

Above the current price, the first resistance level is at $0.334 (price congestion resistance), then the second at $0.345 (SMA200 and price congestion resistance) and the third one at $0.367 (EMA50, SMA100, and double price congestion resistance). A really colossal resistance level.

Below the current price, the first support level is $0.32 (double price congestion support), then the second at $0.308 (price congestion support) and the third one at $0.30 (price congestion support).

 

 

The MACD on the daily chart shows a bullish cross in process, although at the moment it is difficult to predict the speed at which the scenario will develop.

The DMI in the daily chart shows us how in the XRP bulls are also increasing the level of activity in recent days, while bears move well below the ADX line. We likely see a bearish movement of support testing that would take the D- line to impact with the ADX on the lower side, and then descend again.



Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

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

XRP and ADA on fire, BTC lags behind

BTC/USD has barely changed since this time on Tuesday. The first digital asset is changing hands at $9,273 after a move to $9,380 on Monday. 

More Cryptocurrencies News

Ripple Technical Analysis: XRP/USD bears take price below $0.185

XRP/USD bears remained in control for the second straight day as the price fell from $0.1852 to $0.1848. Despite the bearish price action, the Elliott Oscillator has had seven consecutive green sessions ...

More Ripple News

Ethereum Price Analysis: Will bulls reach $240 in current bounce?

The positive mood remains on the cryptocurrency market. While Bitcoin (BTC) is rising slightly, altcoins are outperforming the leading crypto. The top gainer from the 10 most popular coins is Bitcoin SV (BSV) ...

More Ethereum News

LTC/USD retests $45 seller congestion zone, where to next?

Litecoin bulls have engaged higher gears in their quest to push the price above $50. From the highs traded in June around $50, LTC/USD embarked on an exercise of trimming gains to the extent of dropping under $40.

More Litecoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast

BTC

ETH

XRP