Top 3 Price Prediction Bitcoin, Ripple, Ethereum: BTC to $50,000 or Gold to $5,000? Current crypto levels to watch


  • Peter Schiff, Tom Lee, and Anthony Pompliano tussle in the Gold vs. Bitcoin battle.
  • Current cryptocurrency prices are struggling with BTC slipping below $10,000.
  • Here are the next levels to watch according to the Confluence Detector.

"Gold will reach $5,000" claimed Peter Schiff, a crypto critic, and a gold bug. "Bitcoin will reach $50,000," said Tom Lee. Both influences clashed on social media and on television about future prices. Both assets are seen as safe havens and have risen of late, but these price targets seem far. XAU/USD is struggling with $1,500, while BTC/USD has dropped below $10,000.

The granddaddy of cryptocurrencies may have a dominance level of over 90% according to a new study by Arcane Research. The firm uses liquidity and other gauges to assess the balance between BTC and other digital coins such as Ethereum and Ripple. According to Coin Market Cap, Bitcoin is worth some 68% of all cryptocurrencies – the highest since April 2017.

FXStreet crypto analyst Tomas Salles has reiterated that meaningful bullish crypto markets were driven by Etehreum, not Bitcoin. Tomas will be back after his summer vacation. In the meantime, let us look at technical levels.

This is what the Crypto Confluence Detector shows in its latest update:

Bitcoin Ethereum Ripple August 22 2019 technical confluence

BTC/USD on the back foot

Bitcoin has dipped below $10,000 and more importantly, has lost $10,075. The line is the convergence of levels including the Simple Moving Average 100-15m, the previous 4h-high, the Fibonacci 23.6% one-month, the Fibonacci 23.6% one-day, and more.

If the king of cryptos overcomes this level, it faces resistance at $10,488, which is the meeting point of the Bollinger Band 4h-Middle and the SMA 5-one-day.

Further above, the upside target is $10,800, where the SMA 50-one-day and the Fibonacci 61.8% converge. 

Significant support awaits BTC/USD only at $9,090, where the previous monthly low hits the price.

ETH/USD has found its balance

Ethereum has almost equal levels of support and resistance. From its current levels, support awaits at $180, where we note the confluence of the Pivot Point one-day Support 1, the BB 1d-Lower, and the previous daily low.

Further down, considerable support awaits at $167.50, which is the convergence of the PP 1m-S1 and the PP 1w-S1.

Resistance awaits at $190.70, which is a juncture of lines including the Fibonacci 38.2% one-week, the SMA 501h, the SMA 200-15m, and the Fibonacci 61.8% one-day.

ETH/USD's upside target is $198, where the SMA 200-1d and the SMA 10-1d converge.

XRP/USD stuck in the mud

Ripple is struggling around $0.2648, which is a dense cluster consisting of the SMA 5-15m, the SMA 5-4h, the SMA 10-15m, the SMA 100-15m, the Fibonacci 38.2% one-day, the Fibonacci 38.2% one-week, the Fibonacci 23.6% one-day, the PP 1m-S1, and the BB 15min-Lower.

Looking up, noteworthy resistance awaits at $0.2757, which is the confluence of the SMA 5-1d, the previous daily high, and the SMA 100-1h. 

The upside target is $0.2839, where we see the PP 1d-R2 and the previous monthly low converge. 

XRP/USD has support at $0.2525, where the previous yearly low and the BB 1d-Lower meet up. 

See all the cryptocurrency technical levels.

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 & Analysis

Editors’ Picks

BTC/USD bulls fight for every inch of the ground on their way to $10,000

After a sharp sell-off at the beginning of the week, BTC/USD climbed back above $9,000 and made its way above another important resistance $9,300. A shall green candle on a weekly chart is a promising signal, though the market is still gripped with uncertainty at this stage. 

More Bitcoin News

XRP/USD drops below $0.2000 after a failure at $0.2030

XRP/USD tested the intraday high at $0.2031, but the strong resistance located around this area discouraged the short-term bulls and pushed XRP/USD below $0.2000 by press time.

More Ripple News

ETH/USD breaks out into the $220 zone, will it be $230 or $210 next?

Ethereum price followed in the footsteps of the largest cryptocurrency by market capitalization, Bitcoin. BTC sprung upwards and for the first time in seven days, stepped above $9,600.

More Ethereum News

EOS/USD slumps below 4-hour SMA200, focus on $2.54

EOS/USD attempted a recovery above 4-hour SMA200 (currently at $2.65) and touched the intraday high at $2.67. However, the upside momentum proved unsustainable as the price of the digital asset dropped to $2.62

More EOS News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC/USD bulls fight for every inch of the ground on their way to $10,000

After a sharp sell-off at the beginning of the week, BTC/USD climbed back above $9,000 and made its way above another important resistance $9,300.

Read the weekly forecast

BTC

ETH

XRP