Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Technical levels cryptos must recapture to resume the bullish rally after correcting – Confluence Detector


  • Cryptocurrencies have corrected lower after a sharp rally.
  • Each digital coin faces critical resistance lines it must recapture to resume the rally.
  • Here are the next levels to watch according to the Confluence Detector.

Cryptocurrencies have finally corrected some of their massive gains – a natural phenomenos in all financial markets. The rally has been partially inspired by Facebook's entry into the blockchain world with its Libra project. Interest in Bitcoin and also other digital coins has soared and prices followed upwards as well.

Nevertheless, some have likely wanted to take some profits off the table after the massive jumps. BTC has nearly reached $14,000 and the correction proved almost as sharp as the rally – a dip below $12,000. 

Crypto prices are making attempts to stabilize with the granddaddy of coins already back over $12,000. 

What's next? To end the correction, currencies face technical hurdles they must surpass to resume the bullish rally. 

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

Bitcoin Ethereum Ripple June 27 2019 technical confluence analysis

BTC/USD must break above $13,010

Bitcoin faces weak resistance at $12,500 where the Fibonacci 61.8% one-day converges with the previous 15min-high.

The next hurdle is at $12,805 where we find the Simple Moving Average and the previous 1h-high.

The most substantial resistance confluence is at $13,010 which is where the SMA 5-4h meets the Fibonacci 38.2% one-day line.

BTC/USD enjoys support between $12,148 and $12,227. This is a dense cluster including the Bollinger Band 1d-Upper, the SMA 200-15m, the SMA 50-1h, and the Pivot Point one-week Resistance 3.

Further support awaits at $11,700 where the Pivot Point one-day S1 and the previous daily low converge.

ETH/USD faces $330 as the first hurdle

Ethereum is better positioned to recover. Vitalik Buterin's creation faces weaker resistance than Bitcoin's. $330 is the confluence of the BB 1d-Upper, the SMA 10-4h, and the BB 15min-Middle. 

At $337 we note the SMA 100-15m – only weak resistance.

ETH/USD has support at $321 which is the convergence of the BB 15min-Lower, the BB 1h-Lower, and the PP 1w-R2.

Close by, $318 provides further support with the juncture of the PP 1m-R1 and the SMA 100-1h.

XRP/USD needs to cross two lines

Ripple faces a duo of caps. It is battling $0.4300 which is a minefield including the Fibonacci 61.8% one-week and the BB 1d-Middle. 

Further above, $0.4500 is the convergence of the Fibonacci 23.6% one-day and the Fibonacci 23.6% one-week.

Some support awaits at $0.4150 where the PP 1w-S1 awaits XRP/USD.

The last significant support cluster is at $0.4046 which is the confluence of the Fibonacci 38.2% one-month and the PP 1d-S2.

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 Price Analysis: BTC/USD regains $36,000 inside two-week-old triangle

BTC/USD rises to $36,158, up 0.55% intraday, during early Wednesday’s trading. The famous cryptocurrency pair recently reversed from $35,654 while staying inside a symmetrical triangle established since Jan 04.

More Bitcoin News

Chainlink price hits new all-time high target at $23.7 and aims for $30

Chainlink was trading inside a daily ascending parallel channel before a massive breakout on January 15 that pushed the digital asset to its new all-time high of $23.7. After a brief consolidation ...

More ChainLink news

Ripple primed for another leg down after Coinbase officially suspends it for trading

XRP was hit hard when the SEC decided to sue Ripple. Since then, the digital asset has crashed and lost close to 60% of its value. Several prominent exchanges announced they would halt XRP trading on their platforms including Coinbase.

More Ripple News

Ethereum explodes targeting record highs at $2,000, crypto bull cycle on track

Ethereum seems to have stolen Bitcoin’s spotlight, leading the cryptocurrency price action. The pioneer altcoin is up 13% in 24 hours after hitting above the former January peak at $1,350. For now, all eyes are glued on Ethereum’s ability to hit new all-time highs.

More Ethereum News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: BTC price faces extreme volatility ahead of a new all-time high

Bitcoin had a wild run this week, dropping from a high of $41,350 to a low of 30,420 in less than 48 hours. 

Read the weekly forecast

BTC

ETH

XRP