Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Libra members may quit, but cryptos are up – levels

  • Facebook's Libra members are considering quitting due to government pressure.
  • Cryptocurrencies have been recovering with Bitcoin topping $10,000 once again.
  • Here are the next levels to watch according to the Confluence Detector.

Some members of Facebook's Libra have been considering quitting – before the project took off. According to the Financial Times, the regulatory scrutiny that the social media behemoth has deterred partners. One is quoted:

I think it's going to be difficult for partners who want to be seen as in compliance [with their own regulators] to be out there supporting [Libra]

Facebook has declined to comment and plans to launch its global blockchain project seem to remain intact.

For up and running cryptocurrency projects, the past 24 hours have been better, with prices recovering after a gradual decline earlier in the week. What levels should we watch?

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

Bitcoin Ethereum Ripple August 23 2019 technical confluence

BTC/USD has clear targets

Bitcoin faces initial resistance at $10,327, which is the convergence of the Fibonacci 38.2% one-week, the Bollinger Band 4h-Middle, the Simple Moving Average 200-1h, the SMA 50-4h, and the Pivot Point one-day Resistance 1. 

Further up, the king of cryptos faces a challenge at $10,800, where we note the confluence of the Fibonacci 61.8% one-week and the PP 1d-R3. 

BTC/USD has support at $10,060, where we see the BB 1h-Lower, the Fibonacci 23.6% one-month, and the Fibonacci 61.8% one-day converge. 

The next considerable cushion is only at $9,320, where we see the PP 1d-Support 3 and the PP 1w-S1 meet. 

ETH/USD finally finds support

Ethereum has a clear support line at $191, where a dense cluster of lines awaits it. This includes the SMA 50-4h, the Fibonacci 38.2% one-week, the Fibonacci 38.2% one-day, the previous monthly low, and the SMA 100-15m.

The next support is at $185, where the Fibonacci 23.6% one-week and the PP 1d-S1 converge. 

Some resistance awaits ETH/USD at $200, which is the meeting point of the Fibonacci 61.8% one-week, the BB 4h-Upper, and the SMA 100-4h. 

Further up, Vitalik Buterin's creation may find resistance at $211, where we note the confluence of the PP 1w-R1 and the SMA 200-4h.

XRP/USD also enjoys robust support

Ripple, similar to Ether, has significant support at $0.2700. This juncture consists of the SMA 10-4h, the Fibonacci 38.2% one-day, the BB 1h-Lower, and the BB 4h-Middle. 

The next cushion is at $0.2628, where the PP 1m-S1 and the PP 1d-S1 converge. 

XRP has a clear resistance line at $0.2840, where the PP 1d-R2 and the previous monthly low meet. 

Next up, we find $0.2912, which is the confluence of the BB 1d-Middle and the PP 1d-R3.

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 & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC bulls may hit a brick wall on approach to $9,800

Bitcoin (BTC) extended the recovery to trade at $9,750 at the time of writing. The first digital asset bottomed at $9,300 on February 19 amid massive sell-off and managed to regain some ground since that time. 

More Bitcoin News

Ripple Price Weekly Forecast: XRP/USD road to $0.35 mapped

As the week grinds toa halt, cryptocurrencies are rolling in a positive direction. The positive resonation comes after a couple of days that saw bulls paralyzed in the cryptocurrency market.

More Ripple News

Cardano launched hardfork OBFT; ADA/USD extends the recovery

Cardano (ADA), now the 11th largest digital asset with the current market value of $1.5 billion, has gained 2.7% in recent 24 hours to trade at $0.0590 at the time of writing.

More Cardano News

BCH/USD sprints to $380 amid development tax disagreements

Bitcoin Cash explored the region at $350 as I discussed in the previous article. However, the bulls quickly entered the market ready to buy low and push the price upwards. BCH/USD is already in the green ...

More Bitcoin Cash News


Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast