Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Altcoins beat Bitcoin that targets $8,100 zone


  • ETH/BTC rises 10% in three days and puts the market in bullish mode.
  • BTC/USD can reach $8,000 without compromising the medium term bullish trend.
  • XRP is in a dirty area and lacks visibility.

 

Bitcoin is falling for the fourth consecutive day against the vast majority of assets – both inside and outside the crypto universe. 

It is the first serious consolidation in more than seven months and a 300% surge. BTC/USD can fall to $8,000 without changing the bullish scenario.

Today’s market presents a great contradiction at a technical level, with falls in the short term that coincide with a strong bullish signal.

We are in an early stage of what can be the bull market with the most impressive multiples in history. Today, with the crypto market in red in front of all fiat currencies, the conditions that I have set out to be able to declare that the crypto market is in bullish mode have finally been fulfilled. 

Readers who follow me will know that I am referring to the relationship between Ethereum and Bitcoin. As I explain in the analysis of this pair in the next section, the MACD has crossed up, a change confirmed by the 10% rise against Bitcoin of a basket of the leading Altcoins in the market.

This situation fulfills the second condition to be able to declare the Crypto market in bullish mode, with the first condition the break of the long term bearish channel in the BTC/USD pair.

ETH/BTC Daily Chart

 

The ETH/BTC pair trades at 0.028, rising for the fourth consecutive day and forms a double bottom in the 0.025 area 10% lower. It finds itself right in the face of price congestion resistance that separates the bearish terminal zone from a bullish transition zone full of technical obstacles.

Above the current price, the first resistance level is at 0.0282 (price congestion resistance), then the second resistance level is at 0.0293 (price congestion resistance and EMA50) and the third one at 0.03001 (price congestion resistance and SMA100).

Below the current price, the first support level is at 0.0275 (price congestion support), then the second support level is at 0.0268 (price congestion support) and the third one at 0.025 (price congestion support).

 

 

The MACD on the daily chart shows a bullish cross developing. The slope of the cut is quite aggressive and to continue in this configuration augurs substantial rises in the coming days.

The DMI on the daily chart shows how bulls react strongly to the upside while bulls lose the ADX line and end the last bearish momentum.

 

BTC/USD Daily Chart

 

BTC/USD is trading at the $10,036 price level after reaching $9.800 price congestion support.

The second support level is at $9,170 (price congestion support), and the third one at $8,772 (price congestion support).

Above the current price, the first resistance level is at $10,680 (price congestion resistance), then the second resistance level is at $11,290 (price congestion resistance) and the third one at $13,900 (price congestion resistance and relative maximum).

 

 

The MACD on the daily chart shows how the bearish cross accelerates and increases in both steepness and openness between lines. The scenario is one of continued bearishness with increased volatility.

The DMI on the daily chart shows how the bulls and bears are almost tied, a structure that also favors increased volatility.

 

ETH/USD Daily Chart

 

The ETH/USD pair trades at $279.9 and returns to the broad resistance range of $280 and $260.

Below the current price, the first level of support is $260 (price congestion support and EMA50), then the second at $250 (price congestion support) and the third one at $238 (price congestion support).

Above the current price, the first resistance level is at $280 (price congestion resistance), then the second at $305 (price congestion resistance) and the third at $318 (price congestion resistance).

 

 

The MACD on the daily chart also shows an acceleration in the bearish cross. The structure is conducive to increased volatility.

The DMI on the daily chart shows a situation similar to that of the BTC/USD pair, although with the particularity that in ETH/USD pair the bulls remain above the ADX line, which gives an extra bullish point.


XRP/USD Daily Chart


XRP/USD is trading at $0.394 and is at times above the price congestion resistance at this level.

Below the current price, the first support level is $0.368 (double price congestion support and SMA100), then the second support level is $0.345 (price congestion support and SMA200), and the third one is $0.335 (price congestion support).

Above the current price, the first resistance level is at $0.41 (price congestion resistance and EMA50), then the second at $0.428 (price congestion resistance) and the third one at $0.44 (double price congestion resistance).

 

 

The MACD on the daily chart reaches the middle of the indicator with much openness between the lines and also a significant slope. This structure makes it difficult for the indicator to stop at this level and marks the negative zone as the most likely destination.

The DMI on the daily chart shows bulls and bears almost tied, with a small advantage for the latter.



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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin market update: BTC/USD revives the uptrend – Steps above $9,500

BTC/USD trading pair appears to have found support above $9,000. A rebound from the support has pulled above $9,500 amid a building bullish momentum across the market. 

More Bitcoin News

Ripple price analysis: XRP/USD defends falling wedge support; breakout still lingers

Ripple continued to press against key support areas yesterday. The downside momentum was augmented by the broad-based selling pressure in the market. As discussed yesterday, the upside was capped at $0.32 while XRP/USD sustained above $0.30. 

More Ripple News

Retail Investors Can Now Bet on Bitcoin Hitting $100,000 by 2020

This bullish bet on Bitcoin is the first crypto derivatives product open to mom and pop investors since LedgerX sealed approval from the U.S. Commodity Futures Trading Commission (CFTC) to serve as a designated contract market for clients of any size, as Cointelegraph reported in June. 

More Bitcoin News

Bitcoin Cash market update: BCH/USD edges its way towards $300

Bitcoin Cash is revamping the uptrend after falling victim to selling pressure for the second time in the same week. The initial drop towards the end of the last week culminated in a dive under $300 on Monday this week. 

More Bitcoin Cash News

Bitcoin Weekly Forecast: BTC bulls get ready for a major assault

The cryptocurrency market has been pretty volatile this week. Bitcoin stayed in the green zone despite wild price gyrations, while major altcoins are nursing double-digit losses on a week-on-week basis.

Read the weekly forecast

BTC

ETH

XRP