Top 3 Price Prediction Bitcoin, Ripple, Ethereum: BTC/USD targets $8,800 – Altcoin season is coming


  • ETH/USD aims at $220 but may come as a positive surprise.
  • XRP/USD falls sharply and targets $0.28.
  • ETH/USD presents candidacy to lead the Altcoins towards more attractive prices.

 

As we are drawing closer to the end of the week, cryptocurrencies have finally decided to correct and get out of the recent stagnation. 

The extent of the falls is usual in this market – and it is surprising that anybody is surprised. A wide trading range is the nature of this market – both to the upside and to the downside.

The red that stains the portfolios should not distract the exciting situation that presents itself in the duality Bitcoin vs. Altcoins. The impact of the falls in the latter is being accelerated and are in more advanced stages of the consolidation phase. 

When defining probable scenarios, the data above helps to develop a scenario in which Altcoins complete the process before the Bitcoin does, and even begin to climb while Bitcoin continues in the consolidation phase.

The ETH/BTC graph provides relevant information.

 

ETH/BTC Daily Chart

 

The ETH/BTC pair is currently trading at the price level of 0.02359 after hitting support at 0.023 on Wednesday (price congestion support), levels unseen since early December 2017. 

The chart is very conducive to a bullish turn – or at least to the formation of a floor. 

Below support at 0.023, the second one is at 0.020 (price congestion support) and the third one awaits at 0.0155 (double price congestion support).

Above the current price, the first resistance level for ETH/BTC is at 0.027 (price congestion resistance), then the second at 0.0278 (price congestion resistance and EMA50) and the third one at 0.0293 (price congestion resistance).

 

 

The MACD on the daily chart shows potential for a considerably bullish configuration. It diverges from May’s lows and has made two failed cross attempts. The downside margin is minimal.

The DMI on the daily chart shows bulls losing ground in the past two days after remaining active in the previous 12 days of declines. The final leg has frightened a few, but the market bottom thinks the end of the bearish leg is near.

 

BTC/USD Daily Chart

 

BTC/USD is reliable and despite the declines is in the upper range of the current bullish scenario. Wednesday’s attempt to attack new highs exhausted King Bitcoin that began falling by sharply by midday – a possibility already contemplated in the previous article.

Today it has hit $11,500 in price congestion support, and for now, it bounces back up in an increasingly bearish environment.

The next level of support for BTC/USD is at $10,650 (price congestion support) and the third one at $9,650 (price congestion support and EMA50).

The ultimate goal of this consolidation process would be around $8,800.

 

 

The MACD on the daily chart shows a technically sinister figure. It tried to cross up yesterday and failed miserably. This bearish signal is going to be taken advantage of by sellers.

The DMI on the daily chart shows the bulls in the last few rales and with very little chance of maintaining leadership beyond the weekend.

 

ETH/USD Daily Chart

 

ETH/USD is trading at $273.13 after regaining support at the EMA50, lost during the Asian session. This morning it has reached the $260 support level to move higher at this time.

The second support level for ETH/USD is at $250 (price congestion support) and the third one at $238 (price congestion support and SMA100).

Above the current price, the first resistance level is at $290 (price congestion resistance), then the second at $305 (price congestion resistance) and the third one at $315 (price congestion resistance).

The ultimate goal of this consolidation process would be around $220.

 

 

The MACD on the daily chart shows how the lines are separating again and moving towards the neutral level of the indicator. I expect that when reaching the zero level, the indicator will turn upwards.

The DMI on the daily chart shows bulls taking the initiative and beating bears for the first time in a month. The bullish side of the market remains above the ADX line, which gives an optimistic point to the scenario.



XRP/USD Daily Chart

 

The XRP/USD is trading at $0.3346 after dropping to a session low of $0.317 (double support for price congestion). It is slightly above the price congestion support level of $0.328. Of the three crypto market capitalization leaders, the XRP is suffering the most. 

The second level of support for the XRP/USD pair is $0.308 (price congestion support), and the third one is $0.30 (price congestion support).

Above the current price, the first resistance level is at $0.335 (price congestion resistance), then the second at $0.344 (price congestion resistance and SMA200) and the third one at $0.367 (double price congestion resistance and SMA100).

The XRP/USD pair has the $0.28 level as the target for the healing process.

 

 

The MACD on the daily chart shows that the trend accelerates again as the lines separate. The MACD on the daily chart shows the trend accelerating as the lines separate again.

The DMI on the daily chart shows a typical leadership change structure. Bears shoot upwards while bulls cut down the ADX line and lose their ability to react.


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 price prediction: BTC/USD recovers following a late bullish rally, faces resistance at $10,275

After BTC/USD went below $10,000, the bulls rallied together to bring the price up to $10,273 this Thursday. The hourly breakdown of Thursday shows us that the price found support at $9,800 and jumped up to $9,880. 

More Bitcoin News

Ripple price update: XRP/USD pivot at the 50% Fibo

Ripple was lucky enough to rise above the key resistance at $0.32. However, the buyers failed to sustains gains above the level resulting in dive under $0.30 on Thursday. The 38.2% Fib retracement level from the last swing high at ...

More Ripple News

Litecoin price analysis: LTC/USD retreats back within the short-term channel

Litecoin has retraced from Wednesday's high of $79.15 to trade at $74.37 by the time of writing. The fifth-largest coin with the current market value of $4.7 billion has lost nearly 2% of its value in recent 24 hours and decreased by 4.5% since the beginning of the day. 

More Litecoin News

BCH/USD technical analysis: Bitcoin Cash finds support ahead of 300 again

Bitcoin Cash is still 0.56% lower this evening but it is not one of the worst-performing cryptocurrencies.  After selling off earlier in the session bulls came in to support the price before it managed to test 300.00 yet again.

More Bitcoin Cash News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Rangebound trading and September blues come upon the crypto market

Bitcoin finishes the week with marginal losses. The first digital currency recovered from the recent low of $9,886 but stayed in the red zone as of the end of the week.

Read the weekly forecast

BTC

ETH

XRP