Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Trend under construction, sorry for any inconvenience


Share:
  • Weakness in prices after sharp rises.
  • The underlying trend remains strong.

 

The universe of Cryptocurrencies comes back to life after months of winter prices and with it comes the interest of the less specialized media. Where until a few days ago there was silence and mistrust, now discreet questions about the possibility of seeing prices again at levels of December 2017 begin to appear.

It is impossible to say with certainty if this is going to happen, but the theory tells us that it is most likely to happen. Moreover, once those historical highs are reached, the market would decide whether to stay there and define a closed ecosystem for the price or continue to rise and expand the capacity to accumulate capital.

 

ETH/BTC 240 Minute Chart

 

The ETH/BTC pair continues to be the best treasure map currently available. There is no other chart in the framework of pure technical analysis that condenses so much information and is so clear.

This graph shows us how it is now when the Cryptocurrencies market is mutated back to bullish mode, completing the retreat from the peaks of the first tranche to the rise during the first week of the year.

An intermediate parallel trend line supports the ETH/BTC pair within the current technical framework. The pair is currently trading at the price level of 0.0322.

Above the current price, the first resistance level is at 0.0333 (price congestion resistance and upper parallel trendline). The second resistance level is at 0.035 (price congestion resistance and parallel bullish trendline), and the third resistance level for the ETH/BTC pair is at 0.0363 (parallel bullish trendline).

Below the current price, the first support level for the ETH/BTC pair is at 0.0321 (lower parallel bullish trend line). Then the second support level is at 0.0316 (price congestion support), and the third support level is at 0.0301 (price congestion support).

 

 

The MACD on the 4-hour chart shows a typical price change direction structure. The sequence is as follows: first crossing attempt, rejection, second more or less clean crossing attempt and success. The model continues to be favorable to an upward movement.

The DMI on the 4-hour chart shows us how bears resist releasing the Ethereum and embracing the Bitcoin. The bulls remain above level 20 and have already fulfilled the pattern of a first attempt to cross up the ADX line, so if the bull attack is unleashed, the chances of victory are high.

 

 

Do you want to know more about my technical setup?


 

BTC/USD 240 Minute Chart


 

The BTC/USD pair is currently trading at $4.950 after leaving the Asian session high of $5,347 and failing to hold above the price congestion level of $5,100. Moving averages continue to be very inclined towards the upside and with much separation between them, which supports the continuation of the upside although with an increase in volatility.

Above the current price, the first resistance level at $5,100 (price congestion resistance), then the second resistance level for the BTC/USD pair is at $5,500 (price congestion resistance). The third resistance level is the most important of all. It is a robust confluence located between $6,300 and $6,500 with three price congestion resistances.

Below the current price, the first support level for the BTC/USD pair is at the price level of $4,550 (price congestion support), then a second support level at $4,430 (EMA50). The third level of support is at $4,200 (price congestion support and SMA100).

 

 

The MACD on the 4-hour chart shows an exhaustion profile but carries so much inertia that it resists crossing down. It proposes a side with a strong underlying bullish force.

The DMI on the 4-hour chart shows us how the bears do not believe that this rise is over and remain at minimum levels. The bulls lose the excessive levels reached and will probably go up again to try to overcome the ADX line again. They will probably fail.

 


ETH/USD 240 Minute Chart

 

The ETH/USD is currently trading at $160 after reaching the price congestion resistance at the $180 level. For now, it remains above the price congestion support at $162.

Above the current price, the first resistance level is at $180 (price congestion resistance). So the second resistance level is at $200 (price congestion resistance) and the third resistance level for the ETH/USD pair is at $215 (price congestion resistance).

Below the current price, the first support level is at $162 (price congestion support), then the second support level is at $150 (price congestion support and EMA50). The third level of support for the ETH/USD pair is at $142 (price congestion support, SMA100, and SMA200).

 

 

The MACD on the 4-hour chart shows a bearish cross profile that the price is ignoring for now. A bullish rejection that would push the price to higher levels cannot be ruled out.

The DMI on the 4-hour chart shows us how the bears take for granted the level reached and increase their activity without overtaking the bulls. The bullish side of the market seems to agree and is withdrawing although it maintains control of the market.




 

XRP/USD 240 Minute Chart



 

The XRP/USD is currently trading at the $0.338 price level after leaving a relative high of $0.378. The decline has led to price congestion support at $0.328 (price congestion support).

Above the current price, the first resistance level is at $0.367 (price congestion resistance), then the second resistance level is at $0.39 (price congestion resistance), and the third resistance level for the XRP/USD pair is at $0.43 (price congestion resistance).

Below the current price, the first support level is $0.335 (price congestion support), then the second support level is $0.328 (price congestion support and EMA50) and the third support level in the XRP/USD pair is $0.318 (price congestion support, SMA100, and SMA200).

 

 

The MACD on the 4-hour chart shows the cross lines falling and reflects in the amplitude of the reversals.

The DMI on the 4-hour chart shows bears trying to take control of the situation while the bulls relax a lot and lose the big advantage they had. The most common pattern indicates a second attempt by the bulls to get above the ADX line, an effort that usually fails.

 

 






 

 

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

Is there more upside to Dogecoin-killer Shiba Inu’s rally after 100% gain in 90 days?

Is there more upside to Dogecoin-killer Shiba Inu’s rally after 100% gain in 90 days?

Shiba Inu token burn rate climbed by 67% since February 4. A total of 13,518,918 SHIB tokens have been burned according to the Shibburn portal. The meme coin gained 100% against competitor Dogecoin in the last 90 days. 

More Shiba Inu News

Why Bitcoin is still in a bear market and what this means for BTC price?

Why Bitcoin is still in a bear market and what this means for BTC price?

Bitcoin is currently in a bear market, according to analysts despite the massive rally of January. The selling pressure on the asset has reduced with miner inflow to exchanges declining to multi-year lows. 

More Bitcoin News

Here's what the new Dogecoin fork means for DOGE hodlers

Here's what the new Dogecoin fork means for DOGE hodlers

EthereumFair, the project that brands itself as the world’s first Ethereum fork is in talks with the Dogecoin community for a fork. The team proposes retaining DOGE’s consensus algorithm and changing the mining algorithm to make it compatible with Ethereum graphics card mining. 

More Dogecoin News

What to expect from US CFTC’s landmark crypto enforcement in 2023

What to expect from US CFTC’s landmark crypto enforcement in 2023

United States Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam has said he will be continuing efforts for the agency to regulate cryptocurrencies, that is non-security tokens. In his remarks at the American Bar Association, Behnam said that the CFTC is well positioned to address regulatory gaps in crypto. 

More Crypto News

Bitcoin: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

Bitcoin: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

Bitcoin (BTC) price is at an inflection point as it continues to rally amid multiple sell signals on lower time frames. The Nonfarm Payrolls (NFP) report, including the unemployment rate and average hourly earnings, is set to be announced on February 3 at 1330 GMT.

Read full analysis

BTC

ETH

XRP