Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Facebook's Libra launch is almost here, crypto levels to watch – Confluence Detector

  • Cryptocurrencies have been holding onto their gains after rising over the weekend
  • Facebook will reportedly launch its Libra blockchain project as early as Tuesday.
  • Here are the next levels to watch according to the Confluence Detector.

If the reports are correct, Facebook will leap into blockchain technology with its Libra project on Tuesday. The social media giant may also announce a Testnet and has listed a long list of partners that hold the network nodes. 

According to RBC Captial, Facebook's stablecoin will be a milestone for the internet behemoth and will open new revenue streams – and significant development for FB is also a huge leap for cryptocurrencies. 

Previous reports claimed that the company already has around 100 employees involved in the project but will be legally based in Geneva, Switzerland.

What levels should we watch?

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

Bitcoin Ethereum Ripple June 17 2019 technical confluence

BTC/USD has a solid base, eyes $10,020

Bitcoin enjoys a considerable cushion around $9,150 which seems able to absorb significant profit-taking. The dense cluster includes the Pivot Point one-week Resistance 1, the Bollinger Band one-day Upper, the Simple Moving Average 504h, the SMA 10-4h, the SMA 50-1h, the SMA 200-15m, and last month's high.

The initial upside target is $9,520 which is the meeting point of the BB 4h-Upper and the PP one-week Resistance 2. 

BTC/USD's upside target $10,020 which is where the Pivot Point one-month Resistance 1 hits the price.

Next up, we find $10,300 where the PP 1w-R3 awaits the price.

ETH/USD targets  $289

Ethereum faces some resistance at $278 where we see the confluence of the BB 4h-Upper, the previous daily high, the BB 1d-Upper, the PP 1d-R1, and the PP 1w-R1.

Next up we find the upside target of $289 which is where the previous monthly high and the Fibonacci 161.8% one-day converge. 

ETH/USD has initial support at $270 which is a minefield of lines including the SMA 5-4h, the Fibonacci 38.2% one-day, the previous 4h-low, the BB 1h-Middle, the SMA 50-1h, the SMA 200-15m, and the SMA 100-15m.

The next noteworthy cushion is at $255 which is the convergence of the SMA 10-1d, the SMA 100-4h, the BB 4h-Lower, the SMA 200-4h, the Pivot Point one-day S2, and the SMA 200-1h.

XRP/USD locked 

Ripple is locked in a narrow range. Resistance awaits at $0.4366 which is the meeting point of the Fibonacci 23.6% one-day, the BB 15min-Upper, and the PP 1w-R2. 

Support is at $0.4320 where the BB 1h-Middle, the Fibonacci 23.6% one-month, the BB 15min-Lower, the previous 1h-low, and the SMA 50-15m converge.

The upside target is at $0.4610 which is the confluence of the PP 1d-R2 and the PP 1w-R3.

Down below, $0.4050 is the convergence of the SMA 200-1h, the SMA 50-4h, and the Fibonacci 38.2% one-month.

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

Bitcoin struggles at $9,300, while altcoins on the run

The cryptocurrency market recovery is driven by altcoins. XRP, BCH, ADA, LINK, XLM and other coins have been smashing resistance levels one after another with no particular fundamental reason.

More Cryptocurrencies News

XLM/USD bulls may return to $0.0800 after a short break

Stellar (XLM), the 14th largest digital asset, has gained over 10% of its value in the recent 24 hours to trade at $0.0791, at the time of writing. The coin has been growing rapidly since the start of the week and increased by over 16% on a week-on-week basis.

More Stellar Lumens News

XTZ/USD gains over 7%, bumps into daily SMA50

Tezos (XTZ) is moving within a strong bullish trend. The coin hit the recent high at $2.66 and the upside momentum is gaining traction. XTZ is now the 13th largest digital asset with the current market value of $1.94 billion. 

More Tezos News

Cardano Chart Update: ADA/USD starts correction after 25% price increase

Cardano (ADA) has been one of the best-performing altcoins in recent days. The coin gained over 85% of its value in ten days and ousted Bitcoin SV from the sixth place in the global cryptocurrency market rating.

More Cardano News


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