Top 3 Price Prediction Bitcoin, Ripple, Ethereum: How a small rise can morph into a bullish crypto rally based on three good news – Confluence Detector


  • Cryptocurrencies have been inching higher, still moving within the range.
  • Bitcoin, Etehreum, and Ripple may all accelerate their gains if they break upside barriers.
  • Here are the levels to watch according to the Confluence Detector.

 

The crypto media has been busy talking about one of its own – CCN's dramatic announcement that it is shutting down after Google has allegedly slashed traffic to the site – a decision that the company is now rethinking.

However, digital coin bulls have more important developments to ponder on. Coinbase, a major crypto exchange, has announced the launch of its credit card in six European countries. CryptoCompare has launched a benchmark for exchanges in order to suss out those that report false volumes. And the Azerbaijani government has partnered with IBM on a blockchain customs deal.

Expanding mainstream reach for an exchange, an initiative that will help the industry mature, and institutional adoption are three positive news for bulls.

And also recent price action has been upbeat. The prices of Bitcoin, Ethereum, Ripple, and also Litecoin – the latter breathing down the neck of XRP in terms of market capitalization – have all risen gently. 

What will it take to see a rally? A lot depends on the technical levels.

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

Bitcion Ethereum Ripple June 12 2019

BTC/USD bounces off strong support 

Bitcoin has been flirting with $8,000 after emerging from strong support at around $7,940 which is a dense cluster of levels including the Simple Moving Average 5-1d, the previous 4h-high, the SMA 200-4h, the SMA 100-15m, the Fibonacci 61.8% one-day, the SMA 200-15m, the SMA 10-4h, and the SMA 501-h. 

Further strong support awaits at $7,643 which is the juncture of the Fibonacci 38.2% one-month and the Bollinger Band 4h-Lower.

To rise to higher ground, $8,100 is a critical level. It is the convergence of the Bollinger Band 1h-Upper, the previous 4h-high, and the Pivot Point one-day Resistance 1. 

The next target is close. At $8,227 we find the confluence of the Fibonacci 23.6% one-month, the BB 1d-Middle, and the SMA 100-4h.

And from there, BTC/USD has room to rally.

ETH/USD is battling $250

Ethereum is battling $250 at the time of writing – a dense cluster – but not of potent lines. It includes the SMA 10-15m the Fibonacci 38.2% one-week, the previous 4h-high, the Pivot Point one-day R1, and the BB 15min-Upper. 

Vitaliki Buterin's creature has bounced off support – $244 in its case. The level is a minefield of lines including the SMA 200-4h, the Fibonacci 23.6% one-week, the SMA 5-1d, and the SMA 200-1h. 

The next support line is close at $250 and includes the Fibonacci 23.6% one-day, the Fibonacci 23.6% one-day, and the PP 1d-S1.

The initial target is $258 which is the convergence of the Fibonacci 23.6% one-month and the Fibonacci 61.8% one-week.

And from there, ETH/USD has room to run.

XRP/USD must surpass $0.4040

Ripple is struggling with $0.3977 at the time of writing. This is a confluence of levels including the Fibonacci 61.8% one-day, the SMA 5-15m, the SMA 200-14h, the SMA 10-15m, the previous 1h-high, the SMA 100-1h, and the BB 1h-Upper.

XRP/USD then faces another resistance line – critical resistance at $0.4040 – which is a dense cluster including the SMA 5-1d, the SMA 200-1h, the Fibonacci 23.6% one-week, the SMA 50-4h, the Pivot Point one-day R1, and more.

But from there on, Ripple may rally hard.

Support awaits at $0.3850 which is the meeting point of the previous weekly low, the PP 1d-S1, and the previous daily low.

Further down, $0.3625 is the convergence of the Fibonacci 61.8% one-month and the Pivot Point one-day Support 3.

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 stares into the abyss as $12,000 hurdle holds

Bitcoin price continues to struggle with building bearish pressure at $12,000. All attempts made from Monday to rise and hold above $12,000 have all ended up in losses towards the short term support at $11,800.

More Bitcoin News

XRP/USD seeking support above $0.30 following trendline resistance breakdown

Ripple’s fight for gains above $0.30 continues in the second week of August. The price action last week saw XRP/USD rise to highs above $0.32 before hitting a snag at $0.3264. This barrier woke up ...

More Ripple News

ETC/USD lock-step trading delays breakout beyond $7.20

Ethereum Classic hit a new monthly high on August 2 at $8.304. The impressive price action from mid-July saw various technical barriers easily pushed into the rearview. However, action towards $8.5 ...

More Ethereum Classic News

Tezos Price Analysis: XTZ/USD bulls keep flying higher, price consolidates above $4.30

XTZ/USD bulls have stayed in control for four straight days. The price has gone up from $4.256 to $4.33 in the early hours of Tuesday, as consolidation continues above $4.30. William’s %R is trending ...

More Tezos News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC hit the pause button before a decisive breakthrough

Bitcoin lived through a wild roller-coaster move during the previous weekend. The coin hit the new 2020 high above $12,000 and crashed to $10,500 in a matter of hours. 

Read the weekly forecast

BTC

ETH

XRP