Bitcoin, Ethereum, XRP Price Prediction: Are The Bulls Lowering Their Head For Massive Charge? - Today's Gazette - Cryptocurrency, Bitcoin News
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Bitcoin, Ethereum, XRP Price Prediction: Are The Bulls Lowering Their Head For Massive Charge?

Binance Includes XRP, Litecoin (LTC) in the Third Phase of its Lending Products

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Bitcoin, Ethereum, XRP Price Prediction: Are The Bulls Lowering Their Head For Massive Charge?

The cryptocurrency market has once again demonstrated its strong volatility. In less than 24 hours Bitcoin (BTC), the leading cryptocurrency of the ecosystem has gone from trading at $ 8100 to a current price of $ 7155.32 USD, a -9.35% fall which has caused its market capitalization to lose little more than $ 25 billion dollars.

Bitcoin Price Prediction

As a consequence of this steep fall, the market has gone from levels of $ 250 billion to just over $ 228 billion, causing a spiral effect throughout the ecosystem that led Bitcoin to lose its domain by almost 4 percent.

The fall apparently originated on Bistamp, when an unknown person placed an aggregate sale order  of 5000 BTC, so the orders were closed at a low price of $ 6,200, resulting in a massive price drop, according to Dovey. Wan, co-founder of Primitve Ventures.

This generated the parallel settlement of $ 207 million on BitMex. Both exchanges are related, given that BitMex prices, 50% of its index is Bistamp, so both occurred in the massive fall of the market.

In this regard, Bistamp officially stated in his twitter account, what had happened, giving the reason to Wan on what was previously indicated in his social network.

However, for the short term BTC presents a downwardly feasible scenario up to levels of $ 6424, which becomes the strong support to which everyone wishes that the cryptocurrency does not arrive, except for the ‘whales’ that wait for an opportunity like this to increase their profit

BTC generated two important resistances @ 7842 and @ 8400 for this investment horizon. At this moment its key support resides at the band of 7175. If in the next few hours, this value is broken, we could see values close to the strong support of the 6k.

Bitcoin Price prediction

In my opinion, Bitcoin is looking to shorten each rally now, unless we go above $7640.

For the medium-long term we are optimistic about the cryptocurrency as long as we stay above $6400. The price rebound from this confluence of parabola and diagonal support could push BTC back to levels of $ 8400 in the medium term.

Bitcoin Price prediction

In addition, we could think that a maximum of 8100-8200 is what BTC can achieve for this investment horizon, judging from the cyclical pattern that we are saw when the cryptocurrency boomed and fell between November 2017 and January 2018. Taking into consideration the current behavior which is, we would be talking about the maximum price of the year for the cryptocurrency in the previous levels of $ 8300 reached .

Bitcoin Price Predictions

Ethereum (ETH) Price Prediction

The second cryptocurrency by market capitalization, as expected, is one of the big coins affected by the market’s bearish position. Its high dependence on BTC in its trading pairs, makes it vulnerable to any change by the leading cryptocurrency.

At the time of writing, ETH presents a spot price of $ 231.40 with a drop of -7.64% in the last 24 hours, and its market capitalization has dropped to $ 24 billion dollars.

Ethereum (ETH) Price Prediction

The main altcoin passes through a parabolic trajectory similar to that of BTC, with a strong inclination and a possible projection of two scenarios that depend on what the market can do in coming hours.

If the downtrend reverses for the weekend, we may see ETH again try to reach R1 levels close to $ 300, otherwise, the parabola will be broken and the price could fall back to levels of S1 in the order of $ 150.

The Aroon indicator for now is optimistic and its bullish signal remains at the top of the top.

Ethereum presents a key support in EMA 30 days, that if exceeded, we could see the altcoin fall to levels lower than $ 200.

For now, the feeling of purchase for the long term has not changed and this has kept ETH at buying levels, slightly below the bullish rally a few days ago, but with real chances of a short rally again happening.

Ripple (XRP) Price Prediction

XRP token is one of the most affected in the present market fall. Its price has fallen from levels above $ 0.4 by -10.57% in the last 24 hours and an accumulated -25% for the week, which returns to place the price of the token at levels of $ 0.369.

Its $ 15.5 billion dollars market cap keeps it anchored in the third box of the general cryptocurrency ranking.

Ripple (XRP) Price Prediction

For now the token is making a spin ball and its trajectory seems to be heading to fight against strong support below levels of the $ 0.30.

Ripple (XRP) Price Prediction

The EMA cross predicts a stronger contraction for next week and everything seems to indicate that the token will not have the strength to sustain itself in the medium term.

The Momentum indicator is currently at positive levels, but its strong contraction and direction to the south is signaling the descending path of the token.

To conclude, CMF points out that a strong outflow of capital from the XRP market is flowing to other currencies, further aggravating the token’s outlook.

Daniel is a profound technical analyst and an evangelist of Blockchain technology who resides in Venezuela. Daniel has written crypto news for the popular Altcoin magazine, and a host of others popular crypto news platform. He graduated as an Engineer from University of Oriente Venezuela, entering the cryptocurrency space after gaining financial analysis knowledge from experts across his country of residence. Contact: daniej.jimenez@todaysgazette.com

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