Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Cryptos' Christmas party begins as coins break resistance, levels - Confluence Detector
- Cryptocurrencies woke up from there sleep at low levels and bounced.
- All three top digital coins have significant support lines and upside potential.
- Here are the levels to watch according to the Confluence Detector, our proprietary tool
After a long period of slumber at low levels, cryptocurrencies are finally waking up and smelling the coffee. Are they about to enjoy a Santa Rally? There seems to be no significant trigger for the rise.
Did whales begin accumulating after the big dump? While some coins are still worth half of their value before November 14th, the awakening is a positive development.
BTC/USD above support, next hurdle $3,469
Bitcoin bounced above $3,000 and has overcome the strong resistance line at $3,223 which is a dense cluster including the Simple Moving Average 50-1h, the SMA 200-15 minutes, the Bollinger Band 4h-Middle, the Fibonacci 61.8% one-day, the SMA 10-4h, the SMA 5-4h, the Bollinger Band 1h-Middle, and more.
The next support line is at $3,133 where we see the confluence of the Fibonacci 161.8% one-day and the Pivot Point one-day Support 2.
The upside target is $3,469 which is the meeting point of the previous month's low and the Fibonacci 61.8% one-week.
The next upside target is $3,645 which was last week's high and also the BB one-day Middle.
ETH/USD eyes $101
Vitalik Buterin's digital currency has also overcome a considerable level: $89.20 is the convergence of the SMA 10-one-day and the Fibonacci 38.2% one-week.
It is backed up by $86.78 which is where the Fibonacci 23.6% one-week, the SMA 10-4h, the BB 1h-Middle, and the SMA 5-4h converge.
Resistance for ETH/USD awaits at $101 which is the confluence of the BB one-day Middle, the previous month's low, and last week's high. It is the next upside target for Ether.
XRP/USD supported at exactly $0.30
Ripple made a nice move higher as well and topped the round number of $0.30. It proved to be a substantial achievement as the round number sees a concentration of levels: the SMA 50-4h, the SMA 10-one-day, the Fibonacci 38.2% one-week, and the BB 1h-Upper.
Further down, there are quite a few cushions, with $0.2911 standing out as the meeting point of the SMA 50-1h, the SMA 200-15m, the Fibonacci 61.8% one-day, and the BB 4h-Middle.
Some resistance awaits XRP/USD at $0.3096 where we see the cluster including the PP one-day R3, the Fibonacci 61.8% one-week, and the previous 15-minute high.
The upside target is $0.3250 which is last week's high and last month's low.
Author
Yohay Elam
FXStreet
Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.
