Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Planning the next bullish move after consolidating gains

  • Cryptocurrencies have been consolidating gains after rising on Monday.
  • Some are better-positioned than others to advance.
  • Here are the next levels to watch according to the Confluence Detector.

Trading cryptos is not a one-way street – meteoric unstoppable gains belong to the past. Nevertheless, the bullish sentiment seems to prevail. Digital coins advanced on Monday and are consolidating on Tuesday. Investors are still digesting Binance's launch of Venus – a stable coin that aims to compete with Facebook's Libra. 

Another development related to the mainstreaming of cryptos is still awaited – the approval of the first Bitcoin Exchange Traded Fund (ETF). The Securities and Exchange Commission (SEC) has set two dates for deciding on requests for ETFs for October. For now, the summer lull in regulation continues – but prices are on the move.

What technical levels should traders be watching? 

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

Bitcoin Ethereum Ripple August 20 2019 technical confluence

BTC/USD battles $10,760

Bitcoin has one significant line – $10,760 which it is battling with. If the king of cryptos settles above this level, it could launch a surge to much higher levels. If it loses, it will have to claw its way up once again.

Why is this line so important? It is a dense cluster of technical indicators including the Bollinger Band 1h-Middle, the Fibonacci 61.8% one-week, the Fibonacci 223.6% one-day, the Simple Moving Average 50-1d, the SMA 5-4h, the SMA 10-15m, the SMA 5-1h, the previous 1h-low, the BB 15min-Middle, the SMA 50-15m, and the SMA 5-15m.

Looking up, weak resistance awaits at $10,985, which is the convergence of the previous daily high, the BB 4h-Upper, and the BB 1d-Middle. 

The upside target is $11,660, where we see the Fibonacci 61.8% one-month meet the previous weekly high.

BTC/USD has some support at $10,310, which is where the previous daily low and the Fibonacci 38.2% one-week converge. 

The next cushion is at $9,860, where we see the SMA 100-1d, the Pivot Point one-day Support 3, and the Fibonacci 161.8% oen-day meet.

ETH/USD faces $201

Ethereum first needs to overcome $201 before anything else. This is a minefield of lines including the SMA 5-4h, the Fibonacci 61.8% one-week, the SMA 10-1h, the BB 1h-Middle, the SMA 100-15m, the previous 4h-high, the BB 15min-Upper, the SMA 10-1d, and the Fibonacci 23.6% one-day.

Breaking above this level opens the door to $210, which is the confluence of the PP 1w-R1 and the PP 1d-R2. 

Higher above, $217 is where the previous weekly high and the PP 1d-R3 converge.

ETH/USD has support at $191, which is the convergence of the Fibonacci 38.2% one-week, the previous monthly low, and the SMA 100-1h. 

The next cushion is at $185, where the Fibonacci 23.6% one-week, and the BB 1d-Lower hit the price.

XRP/USD is in trouble again

Ripple had already seemed to emerge from the issues it had – becoming a leader rather than a laggard. However, XRP is facing rough resistance once again. The 0.2800 to 0.2850 area consists of a long list of significant technical lines including the SMA 10-4h, the previous monthly low, the SMA 100-15m, the Fibonacci 38.2% one-day, the SMA 50-1h, the SMA 10-1d, the Fibonacci 23.6% one-day, the previous 1h-high, the SMA 5-4h, the BB 1h-Middle, and the Fibonacci 61.8% one-week.

If Ripple rips higher, the next cap is around $0.3000, where the PP 1w-R1, the PP 1d-R2, the BB 1d-Middle, and the Fibonacci 161.8% one-day converge.

The upside target is $0.3060, where the PP 1d-R3 and the previous weekly high meet.

Some support awaits at $0.2795, which is the confluence of the SMA 5-1d and the PP 1d-S2. 

Lower, substantial support awaits at $0.2520 which is the previous year's low.

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

Top 3 price prediction Bitcoin, Ripple, Ethereum: Altcoins niche improves with XRP pushing against barriers

The market expects the resolution to this bottleneck convinced that without Bitcoin's participation it will be difficult to consolidate gains in the Altcoin niche. But recent history does not support this theory.

More Bitcoin News

The cryptocurrency market update: Bitcoin drifts lower within the current range

Bitcoin and all major altcoins have been a mixed picture during European hours on Tuesday. The total market capitalization stays edged towards to $265 billion, average daily trading increased to $57 billion, while Bitcoin's market dominance retreated to 69.1%.

More Cryptocurrencies News

Litecoin price analysis: LTC/USD moves within a short-term upside channel

Litecoin has retraced from Monday’s high of $73.86 to trade at $72.50 by the time of writing. The fifth-largest coin with the current market value of $4.58 billion has been range-bound with bullish bias on Tuesday.

More Litecoin News

Ethereum (ETH) price analysis: ETH/USD bulls knock at $200.00

The second-largest cryptocurrency with the current market capitalization of $21.4 billion stopped within a whisker of critical $200.00 during early Asian hours. 

More Ethereum News


Bitcoin Weekly Forecast: Rangebound trading and September blues come upon the crypto market

Bitcoin finishes the week with marginal losses. The first digital currency recovered from the recent low of $9,886 but stayed in the red zone as of the end of the week.

Read the weekly forecast