Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Bulls are back and eyeing these higher levels – Confluence Detector


  • Cryptocurrencies have emerged as winners in the Labor Day weekend.
  • As liquidity returns to normal, bulls may seek to extend their gains. 
  • Here are the next levels to watch according to the Confluence Detector.

Bitcoin has surged above $10,000 – and carried its peers with it. The move came after digital coins traded in low levels for several painful days. 

Bakkt begins its soft launch on September 6, with the full launch on the 23. The new options initiative is backed by cash settlements – potentially resulting in funds flowing into cryptocurrencies. Preparations to Bakkt's launch may be behind the current rise. 

Moreover, the ongoing trade war between the US and China is another potential upward driver. The world's largest economies have failed to schedule new talks so far. 

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

Bitcoin Ethereum Ripple September 3 2019 technical confluence

BTC/USD needs to break $10,404

Bitcoin faces significant resistance at $10,414, which is a dense cluster of lines including the Simple Moving Average 10-15m, the previous 4h-low, the SMA 5-1h, the Bollinger Band 4h-Upper, the BB 15min-Middle, the SMA 10-1h, the Pivot Point one-week Resistance 1, and the SMA 50-1d. 

If it breaks higher, the next target is $11,210, which is the confluence of the Fibonacci 61.8% one-month and the PP 1w-R2. 

BTC/USD enjoys support at $10,080, which is where the Fibonacci 23.6% one-month and the Fibonacci 61.8% one-day converge. 

Further down, $9,865 is the meeting point of the Fibonacci 38.2% one-week and the SMA 50-4h. 

ETH/USD is well-supported

Ethereum has advanced and now enjoys support at $175, which is the confluence of the Fibonacci 61.8% one-day and the Fibonacci 38.2% one-week. 

It is followed by $170, where the previous daily low and the Fibonacci 23.6% one-week converge. 

ETH/USD may now look up to the higher ground. It faces resistance at $182, which is the juncture that sees the BB 1h-Upper and the Fibonacci 23.6% one-month. 

The upside target is $195, where the previous weekly high meets the PP 1d-R1.

XRP/USD battles $0.26

Ripple is battling $0.26 which is a dense cluster including the Fibonacci 38.2% one-week38.2% one-week, the SMA 5-15m, the SMA 10-15m, the SMA 200-1h, the SMA 5-4h, the BB 1h-Middle, the BB 15min-Middle, and the Fibonacci 38.2% one-day. 

The upside target is $0.2675, which is the convergence of the PP 1d-R1, the SMA 100-4h, and the BB 1d-Middle. 

Support is close, at $0.2580, which is the confluence of the BB 1h-Lower, the BB 4h-Lower, the SMA 200-15m, the SMA 50-1h, the SMA 5-1d, and the Fibonacci 61.8% one-day.

There are several support lines with the most noteworthy one awaiting at $0.2472, which is the meeting point of the previous weekly low and the Fibonacci 161.8% one-day.

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


Latest Crypto News & Analysis

Editors’ Picks

Dominance war to push Ethereum to $270

The Altcoin segment is still in full swing while the crypto board leaders, Bitcoin and Ethereum, remain stuck at the same levels as in recent weeks.

More Bitcoin News

XRP/USD glued to $0.2000 after a failed recovery attempt

Ripple's XRP is changing hands at $0.2000, mostly unchanged both on a day-to-day basis and since the beginning of Monday. The coin has been locked in a tight range since July 11 after a retreat from the recovery high of $0.2117.

More Ripple News

IOT/USD lift-off to moon begins as $0.30 draws nigh

IOTA is among the biggest single-digit gainers on the day. Most cryptocurrencies in the market remain lethargic in their trading. However, some selected coins are leading recovery including Chainlink, Tezos, NEO and Dash. 

More IOTA News

Ethereum Price Update

Ethereum (ETH) is changing hands at $243.90,  mostly unchanged both on a day-to-day basis and since the beginning of Monday. The second-largest digital asset has recovered above the short-term channel resistance $24.00, however, the further upside has stalled above $243.00. 

More Ethereum News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast

BTC

ETH

XRP