Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Down but not out, levels that cryptos need to capture - Confluence Detector


  • Cryptocurrencies suffered a fall on Thursday, but hold did not go too far.
  • Russia's intention to purchase digital coins should provide a boost.
  • Here are the levels to watch according to the Confluence Detector.

After several days of modest climbs in limited ranges, markets began moving and cryptocurrencies dropped. Ethereum led the charge, Bitcoin was carried lower, while Ripple showed some resilience. 

Cryptos may have reasons to rise, as Russia is mulling the purchase of digital currency in order to circumvent the sanctions. The news about this additional demand is joined by reports that Coincheck, a prominent Japanese exchange, will register as a crypto-exchange. 

Will coins rebound? The upside technical targets are clear to see.

Bitcoin Ethereum Ripple January 11 2019

BTC/USD needs to break above $3,875

Bitcoin, the granddaddy of cryptos that recently celebrated 10 years, has to make a move above $3,875. The level is a dense cluster of lines including the Bollinger Band one-day Middle, the Simple Moving Average 200-1h, the Fibonacci 23.6% one-week, the SMA 10-one-day, the Fibonacci 61.8% one-day, the SMA 50-4h, and more.

A minor hurdle awaits at $3,745 where we see the Fibonacci 38.2% one-day, and the Fibonacci 61.8% one-week converge.

Looking down, BTC/USD may find support at $3,573 which is the confluence of the Fibonacci 38.2% one-month, yesterday's low, and the BB 1h-Lower.

The next support line is $3,403 which is the meeting point of the Pivot Point one-month Support 3 and the Fibonacci 23.6% one-month.

ETH/USD eyes $131

Ethereum initially needs to regain $125.80 where we see the confluence of the BB 1h-Lower, the SMA 5-15m, the BB 4h-Lower, and the BB 15m-Lower.

The upside target is $131 which is the juncture of the Fibonacci 38.2% one-month, the Fibonacci 23.6% one-day, the BB 15m-Upper, the BB 1h-Upper, and last week's low.

Some support awaits at $120 which is the meeting point of the PP 1w-S2, the SMA 50-1d, and the SMA 200-4h.

A considerable cushion to Vitalik Buterin's brainchild awaits at $112.70 which is the convergence of two Fibonacci lines: the 61.8% one-month and the Fibonacci 161.8% one-week.

XRP/USD needs to cross $0.3980

Ripple has the first hurdle at $0.35, a round level and also the confluence of the Fibonacci 38.2% one-month, the SMA 10-4h, last week's low, and the Fibonacci 38.2% one-day.

The more important target for XRP/USD is at $0.3980 where we see the Fibonacci 61.8$ one-day, the SMA 200-1h, the SMA 4h, the SMA 10-one-day, and the Fibonacci 38.2% one-week.

Support awaits at $0.3244 which is the meeting point of the Fibonacci 23.6% one-month and yesterday's low.

 

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

Bitcoin Chart Analysis: Symmetrical triangle breakout to power BTC/USD above $9700

BTC/USD has charted a symmetrical triangle breakout in the last hour, opening doors for a test of the pattern target at 9746. Despite the bullish breakout, its likely to remain an uphill task for the bulls to achieve the target, given a bunch of healthy resistance levels. 

More Bitcoin News

XRP/USD: Path of least resistance appears to the downside

XRP/USD is struggling to extend its recovery beyond 0.20 on Saturday, as the bulls remain in a wait-and-see for the fourth straight session. While extending the range play, the bears are seen fighting back control, as suggested by the near-term technical set up.

More Ripple News

BCH/USD: Bulls eye $280 amid falling wedge breakout

Bitcoin Cash (BCH/USD) is consolidating the latest uptick to a daily high of 257.50, having recovered losses following a dip to 253.47. The No. 5 coin has charted a bullish breakout on the hourly chart. The bulls look to extend the upside break to $280.   

More Bitcoin Cash News

Crypto Market Update: Ethereum outperforms its main rivals on the road to recovery

Crypto bulls are trying hard to extend the recovery on Saturday. Ethereum outperforms Bitcoin and Ripple, looking to settle the week with 4.50% gains. The top 2 widely traded coins are poised for additional upside.  

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC/USD needs to go down again before it goes up

After a head-spinning volatility at the beginning of the week, BTC/USD settled above $9,600 with minor gains on a week-on-week basis. A shall Doji candle on a weekly chart is an alarming signal that the bulls are exhausted by uncertainty and large price swings. 

Read the weekly forecast

BTC

ETH

XRP