Top Three Coins Price Prediction: Bearish corrections follows a bullish Thursday
- BTC/USD bulls will need to overcome resistance at $6,200 to break above the $6,500 and $7,000 levels potentially.
- XRP/USD is sandwiched between multiple strong support and resistance levels, making price movement limited.
Top Three Coins Daily Confluence Detector
Bitcoin
- Current Price: $6,157.65
- Open: $6,184.97
- High: $6,286.56
- Low: $6,063.00
Strong resistance lies at $6,200, which has the one-day Fibonacci 23.6% retracement level, 4-hour Previous Low, SMA 5 and SMA 50. On the downside, healthy support levels lie at $5,770 and $5,500. $5,770 has the one-month Pivot Point support-three, while $5,500 has the SMA 5 and one-day Pivot Point support-one.
Ethereum
- Current Price: $135.50
- Open: $136.67
- High: $140.18
- Low: $133.99
The Ethereum daily confluence detector shows one strong resistance and support level. The resistance lies at $138, which has the SMA 10, 15-min Previous High and one-day Fibonacci 23.6% retracement level. The support level is at $119 and has the SMA 100 and one-month Pivot Point support-two.
Ripple
- Current Price: $0.163
- Open: $0.1650
- High: $0.1670
- Low: $0.1604
The Ripple daily confluence detector has multiple strong support and resistance levels. Looking at the resistance levels, we have three of those at $0.176, $0.174 and $0.171. $0.176 has the Previous Year Low and $0.174 has the 4-hour and one-day Previous High. There are no confluences detected at $0.171.
On the downside, there are three healthy support levels at $0.162, $0.161 and $0.152. $0.162 has the SMA 10, one-day Fibonacci 38.2% retracement level and 15-min Previous Low, while $0.161 has the one-week Fibonacci retracement level and one-hour Previous Low. Finally, $0.152 has the SMA 5, SMA 10, SMA 50 and SMA 200.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
