Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Bitcoin fades and gives the lead to Altcoins


  • ETH/BTC is set up to rise in the short term.
  • XRP can surprise and open up the Altcoin season.
  • Bitcoin goes low and tests important levels.

 

A few minutes ago, Bitcoin pierced the $10,000 support and the news has jumped in all the specialized media around the world. 

In the Crypto universe, the round numbers that have such an impact on other markets are usually a minor hurdle.

Although it has recovered for the time being, the BTC/USD pair has not finished the correction started at the end of June. Two medium-term scenarios are beginning to be drawn, which I will explain in the analysis dedicated to Bitcoin.

The yellow news of the day is the cancellation of the charity lunch between Warren Buffett and Sun Yuchen (TRON) because of some health issues concerning the Chinese entrepreneur. Other sources point to possible legal problems for Sun due to alleged accounting irregularities.

 

ETH/BTC Daily Chart

 

Today may be an important day for the Altcoin segment and by derivative, for the Crypto market as a whole. The pro bullish technical configuration continues to develop and it seems very likely that today it will enter the next bullish phase.

If we remain faithful to the historical behavior of the Crypto market, it is appropriate to expect better Ethereum behavior against Bitcoin in the consolidated upward phases.

The last time this happened was in mid-May and technically everything is ready for it to happen again. The biggest obstacle for this to happen may precisely be the obvious of the moment. If this were a shark market and not a whale market, I would expect a short-term bullish trap and substantial economic benefit for the big speculators. 

Practical notes aside, the bullish moment is inevitable for the ETH/BTC pair.

Above the current price, the first resistance level for the ETH/BTC pair is at 0.0285 (price congestion resistance), then the second at 0.0255 (EMA50) and the third one at 0.0269 (double price congestion resistance).

Below the current price, the first level of support is at 0.020 (price congestion support), then the second at 0.015 (price congestion support). 

 

Click to LiveChart

 

The MACD on the daily chart is the most important of the entire Crypto market at the moment. Statistically, the short-term trend should be bullish, although it remains unknown which price should be reached and how long it will take.

The DMI in the daily chart gives us more information about the two unknowns that the MACD has left us. 

The bulls have an excellent upward trajectory until they can reach the bears so that the uptrend can be active for at least a couple of weeks. If the trend strength represented by the ADX remains at current levels, the price range can also be significant.

 

BTC/USD Daily Chart


The BTC/USD is trading around $9,933 and is heading back towards the $10,000 level to deepen the decline. The EMA50 is now trading at $10,050 and may complicate a possible Bitcoin recovery in the short term. 

The BTC/USD pair can fall as low as $8,400 without jeopardizing the medium-term bullish trend, although in that scenario times would be much longer and could move in this range for months.

Above the current price, the first resistance level is at $10,800 (price congestion resistance), then the second at $11,200 (price congestion resistance) and the third one at $14,000 (price congestion resistance and relative maximum).

Below the current price, the first level of support is at $9,650 (price congestion support), then the second at $9,150 (price congestion support) and the third one at $8,800 (price congestion support). 

 

Click to LiveChart

 

The MACD on the daily chart accelerates again and is already moving below the neutral level of the indicator. In principle, it does not look like the move is going to be long-lasting, but it is still too early to say for sure.

The DMI on the daily chart shows a near tie but in detail shows bears ahead of bulls. The absence of trend force complicates a possible quick exit to the current situation so that the indecision may lengthen in time.

 

ETH/USD Daily Chart

 

The ETH/USD is currently trading at $210.3 and it is falling in line with general market sentiment. 

Above the current price, the first resistance level is at $218 (price congestion resistance), then the second at $223 (price congestion resistance) and the third one at $238 (price congestion resistance and SMA100).

Below the current price, the first level of support is at $205 (price congestion support), then the second at $200 (price congestion support) and the third one at $195 (price congestion support).

 

Click to LiveChart

 

The MACD on the daily chart shows a very flat profile, although the drop may take longer than a few days. 

The DMI on the daily chart shows bears losing the ADX line, which triggers an end of the trend pattern. These do not mean that it will no longer fall, but rather than turning patterns come into action, such as increased volatility.

 

XRP/USD Daily Chart

 

The XRP/USD is trading at $0.310 and continues its upward trend after many weeks of declines. This bearish phase may last a few more days and see an increase in price volatility.

Above the current price, the first resistance level is at $0.32 (double price congestion resistance), then the second at $0.328 (price congestion resistance) and the third one at $0.335 (price congestion resistance).

Below the current price, the first level of support is at $0.305 (price congestion support), then the second at $0.30 (price congestion support) and the third one at $0.295 (price congestion support).

 

Click to LiveChart

 

The MACD on the daily chart shows a bullish cross profile that can lead to sharp highs at any time. The least likely scenario is that of terminal type falls before a short-term trend-turn.

The DMI on the daily chart shows bears still mandating but already below the ADX line, indicating the end of the current bearish phase. The bulls are not losing ground and remain at levels reached with last week's gains.

 

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

Sellers come in ahead of 10,500

BTC/USD sells of late in the session as we draw to a close on an eventful day in the financial markets. We were expecting Fed Chair Jerome Powell to be the main event of the session but China announced plans to add tariffs to US imports. Then Powell once again stood firm against Trumps pressure to loosen monetary policy and the US President lost it on twitter. 

More Bitcoin News

XRP pushes to session highs but a key level is in sight

XRP/USD pushes to session highs. Key resistance level is in sight. 0.300 still seems the like the long term target for bulls.

More Ripple News

BCH/USD: 300 is well supported once again

Bitcoin Cash has rejected downside moves yet again. Key trendline apex needs testing soon. 360 is still the level to breach for upside momentum.

More Bitcoin Cash News

NEO announces new partnership with gumi Cryptos bringing blockchain to Japan

NEO Foundation has announced a new partnership with gum Cryptos. The two organisations will be working on bringing blockchain technology to Japan. 

More Neo News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast

BTC

ETH

XRP