Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Bitcoin points to $8,000, but it won't be a non-stop trip


  • Breaking above the current zone is crucial for the medium term.
  • ETH/BTC is at similar levels to those seen on November 17, prior to the bullish boom.
  • XRP continues to suffer and remains the fragile face of the market.

 

We come to the end of the week and Bitcoin continues to show signs of strength as it surpasses the $6,200 level. The target for the move is around $8,000, but it looks like it is not going to be easy as it continues to evolve upward in the short term.

Again, the time has come for Ethereum to do better than Bitcoin, after losing ground to the King from February 24th and onward. The indicators do not confirm this scenario at the moment, but the chances of it being confirmed are high.

For its part, XRP continues to suffer, and despite today's rise, it has significant barriers to overcome. Speculation of an improvement mounts thanks to the launch of xCurrent 4.0, an evolution of xRapid.

 

ETH/BTC Daily Chart

 

The ETH/BTC crypto cross is currently trading at the price level of 0.0276, just above the critical price congestion support of 0.0275. There are a lot of days ahead, but it is currently drawing a perfect Doji that if held to close, would give an excellent entry point to the upside.

Ethereum has a long way to go against Bitcoin if it wants to return to trading at normal levels. So, it may be worth watching its movement very closely.

Above the current price, the first resistance level is at 0.0291 (price congestion resistance), then the second resistance level to examine is at 0.0301 (price congestion resistance). The third resistance level for the ETH/BTC pair is at 0.0316 (price congestion resistance).

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). The third support level for ETH/BTC is 0.024 (price congestion support), a level not seen since August 2017, weeks before that bullish explosion we all remember so vividly.

 

 

The MACD on the daily chart shows a very flat and deviated profile on the downside, so the statistic gives much more probability to a possible improvement than to a continuation of the bearish momentum. However, for now, the bearish phase continues.

The DMI on the daily chart shows how bears continue to dominate the market. The bulls surprise and maintain their tone despite the falls and current levels. This divergence between price and trend strength cannot be ignored.

 

 

BTC/USD Daily Chart


 

BTC/USD is currently trading at the $6,280 price level, showing some difficulty in continuing to move higher. The current standards are technically remarkable, as these price levels were the ones lost last November as the Crypto-Winter took over from the Crypto-Autumn.

Although it is not pleasant to see the price fall, it would be technically healthy if BTC/USD pair now confirms the conquest of the ultra-long-term bear channel.

Above the current price, the first resistance level is formed by a sequence of price congestion resistance that extends to $6,800. Then the next resistance level is $7,100 (price congestion resistance). The third resistance level is at $7,450 (price congestion resistance). The BTC/USD pair targets the $8,000 zone for this scenario, a level it could reach very soon if the current confluence is not enough to contain Bitcoin's bullish force.

Below the current price, the first support level is at $6,200 (price congestion support), then the second support level is at $5,800 (price congestion support). The third level of support for the BTC/USD pair is at $5,750 (price congestion support).

 

 

The MACD on the daily chart shows a good uptrend as well as an adequate opening. The structure is divergent with the price, so you have to pay attention.

The DMI on the daily chart shows bulls controlling the market with many advantages over bears at shallow levels of activity. Both sides of the market are moving below the ADX line, depriving both groups of any trend potential.



ETH/USD Daily Chart

 

ETH/USD is currently trading at $173, moving just above the $170 price congestion support level.

Above the current price, the first resistance level is $180 (price congestion resistance), then the second resistance level is $190 (price congestion resistance), while the third resistance level for ETH/USD is $195 (price congestion resistance).

Below the current price, the first support level is at $170 (price congestion support), then the second support level for the ETH/USD pair is at $160 (price congestion support and EMA50). The third level of support is at $155 (price congestion support).

 

 

The MACD on the daily chart shows a bullish cross that for now has neither a proper inclination nor a good opening between the lines. It is a concrete structure, but it reflects the sideways situation of the ETH/USD pair.

The DMI on the daily chart shows potential for a very bullish structure. Bulls have a good advantage over bears and move above the ADX line, so they have no limitations to the upside.


 

XRP/USD Daily Chart



 

XRP/USD is currently trading at $0.298, down from the $0.30 psychological level. The XRP's delicate situation is worrisome, although at any time it can soar upwards without needing an excuse.

Above the current price, the first resistance level is $0.30 (price congestion resistance), then the second resistance level is $0.308 (very long term bearish trend line). The third resistance level for the XRP/USD pair is $0.317 (SMA100, EMA50 and price congestion resistance).

Below the current price, the first support level is $0.296 (price congestion support), then the second support level is $0.293 (price congestion support), while the third support level for the XRP/USD pair is $0.288 (price congestion support).

 

 

The MACD on the daily chart shows a fully flat profile that hardly provides information on possible scenarios in the short term.

The DMI on the daily chart shows bears at an advantage over bulls but at minimum trend strength levels. An asset in relative lows and with low volatility is not a scenario where a speculator can feel comfortable.



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

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

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. 

More Bitcoin News

Ethereum Classic price analysis: ETC/USD defiantly stays in green

Ethereum Classic is among the few coins that are showing potential for growth on Monday. Besides, ETC/USD trading pair has maintained a shallow uptrend from the lows traded last week around $5.11. On the upside, movement is limited at $6.5 although the price is dancing at $6.44.

More Ethereum Classic News

Litecoin market overview: LTC/USD upside capped at $100

Litecoin has decided to play it safe after an unsuccessful attack on $105 resistance. The declines from July 10 explored the levels under $100. A low was formed at $77.50 before the bears started to retreat as reported by FXStreet.

More Litecoin News

Cryptocurrency market update: Bitcoin upside limited at 10,800 – Ethereum and Ripple test key support areas

The cryptocurrency market is oddly calm on July 22; the first day of the week’s trading. Led by Bitcoin, cryptos are shunning volatility choosing a more stable look into trading this week, unlike the previous weeks.

More Ethereum News

Bitcoin Weekly Forecast: bulls lick wounds after major sell-off

The cryptocurrency market has lived through a dreadful week as Bitcoin(BTC), and all major altcoins crashed below several important support levels. 

Read the weekly forecast

BTC

ETH

XRP