Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Levels cryptos must conquer to unleash the bulls after another SEC delay – Confluence Detector

  • Cryptocurrencies have been consolidating at lower ground and face significant hurdles.
  • The US SEC postponed a decision on three Bitcoin ETF proposals. 
  • Here are the next levels to watch according to the Confluence Detector.

Regulators are back – and back to their habit of procrastinating. The US Securities and Exchanges Commission (SEC) has decided to delay its decision regarding three rule changes regarding a Bitcoin Exchange Traded Fund (ETF). The 

Regulators may be too busy with Facebook's Libra – or just prefer taking their time in the summer. The SEC's impact on prices of digital assets has been waning, but the recent decision seems to have a minor adverse impact. Cryptocurrencies are unable to recover from their previous falls.

Looking at the charts, the top three coins face similar challenges – uphill resistance lines that they must capture to resume the rises. 

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

Bitcoin Ethereum Ripple August 13 2019 technical confluence

BTC/USD must surpass $11,657

Bitcoin has one clear target – $11,657. A dense cluster of significant line awaits the granddaddy of cryptocurrencies there. It includes the Simple Moving Average 5-one-day, the Fibonacci 61.8% one-month, the SMA 50-4h, the SMA 200-1h, the Fibonacci 38.2% one-week, the Pivot Point one-day Resistance 1, and the previous daily high.

In order to reach that level, the king of cryptos first needs to overcome $11,423 which is the convergence of the SMA 100-15m, the BB 1h-Middle, the SMA 5-4h, the SMA 200-15m, the SMA 50-1h, the BB 15min-Upper, and the SMA 10-4h.

BTC/USD enjoys support at $11,240 where we see the confluence of the BB 15min-Lower, the PP 1d-S1, the previous daily low, and the Fibonacci 61.8% one-week.

Further down, the next cushion is at $10,838 where the SMA 100-4h, the PP 1w-S1, and the PP 1d-S3 meet. 

ETH/USD eyes $219

Ethereum's critical cap is $219 where we note a juncture of levels including the SMA 200-1h, the SMA 50-4h, the Fibonacci 38.2% on-week, the SMA 10-1d, and the P 1d-R2.

The initial hurdle is $213.50 where the Fibonacci 38.2% one-day. the SMA 10-4h, the BB 1h-Upper, and the SMA 5-1d converge.

Vitalik Buterin's creation is struggling with $210 which is the convergence of a long list of levels including the previous daily low, the SMA 5-1h, the SMA 10-1h, the SMA 5-15m, the SMA 50-15m, the previous 4h-high, the BB 15min-Upper, the BB 4h-Middle, the SMA 100-1h, previous daily high, the BB 1h-Middle, and more.

The next cushion is considerably lower – last month's low awaits ETH/USD at around $191.

XRP/USD looking at $0.30

Ripple faces fierce resistance at the round number of $0.30 where a minefield of levels awaits it. The area includes the Fibonacci 23.6% one-week, the BB 1h-Middle, the SMA 100-15m, the SMA 5-4h, the Fibonacci 23.6% one-day, the SMA 200-15m, and the SMA 50-1h.

The next hurdle is at $0.3070, which is the meeting point of the Fibonacci 38.2% one-week, the SMA 200-1h, and the SMA 50-4h.

The most significant hurdle awaits XRP/USD at $0.3160, which is a confluence level of the Fibonacci 61.8% one-week, the SMA 200-4h, and the Fibonacci 23.6% one-month.

Support awaits at $0.2820, where the previous monthly low converges with the PP 1w-S1. 

Next, the token may find support at $0.2635, which is the confluence of the PP 1w-S2 and the PP 1m-S1.

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD sellers remains strong on $11,000 region

Bitcoin price in the session on Tuesday is trading with losses of some 3.50%. BTC/USD price action via the near-term view has formed a double bottom, protecting the $10,500 mark. Key resistance can be observed running from $11,000-11,500, via the daily. Sellers remain camped in the range of $11,000-11,500 price range, causing much difficulty. 

More Bitcoin News

LTC/USD subject to another potential wave of selling given the price formation

LTC/USD price in the second half of the session is nursing steep losses of some 3.5%. A bear market remains, as the price struggles to stabilize. 

More Litecoin News

Will we close above 200.00 today?

As general crypto sentiment is lower today ETH/USD breaks back below 200.00. Yesterday's close above 200.00 has been negated as the price moved back below.

More Ethereum News

European Union antitrust regulators are looking into Facebook's Libra

According to a document seen by Bloomberg, EU's antitrust regulators are looking into whether Facebook's proposed payment system will shut out others unfairly.

More Criptocurrencies News


Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast