Connect with us

Cryptocurrencies

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: So close and yet so far from shining again

Published

on

  • XRP is in a decisive moment that will mark the way to the rest of cryptocurrencies.
  • ETH/USD resists consolidating advances and may attempt a bullish escape.
  • The BTC/USD is lagging further behind and yielding to bearish pressures.

 

Yesterday was a day of consolidation in the crypto sphere. This is good news as a broad segment of the market expected a bump to destroy the pump seen on Friday, but that did not happen.

Luckily for all those who go long what we are seeing is a consolidation in the upper end of the current price range. The negative data is that the pattern of behavior is not favorable to breaks when it is consolidating so close to the resistance.

According to the development phases, Ripple is the one that seems to be closer to reaching the resolution point, followed by Ethereum and finally by Bitcoin. If XRP fails, the rest will most likely fail as well.

In the quick analysis of the ETH/BTC pair, I see that it is also consolidating to a few points off the key level at 0.0338 ETH/BTC. Without this break, the market is not going to go higher.  On the contrary, if the current consolidation process leads to a loss of bullish strength, we will see it with the loss of the support level at0.0333 ETH/BTC.

 

 

The DMI on the 4-hour chart shows a structure that usually evolves towards an upward test of the ADX line by the dominant trend force. If this happens, we would see a bullish break that is probably very unstable.

BTC/USD 240 Minute Chart

 

The BTC/USD continues to weigh on the market as a whole with its lack of momentum.  Late Monday, it lost the support level at the $3,600 price level and is now at $3,556.

Below the current price, the first support is at $3,550 (price congestion support). This level is reinforced by the presence of the SMA200 at $3.533 and the EMA50 at $3.525. If the BTC/USD pair cannot hold above these price levels, the third support level, the fall would accelerate, and we would quickly see price levels around $3.460, where congestion support and the SMA100 converge.

Above the current price, the first resistance is at $3,600 (price congestion resistance), followed by the trend line that acts as the ceiling for the downstream channel at $3,675. The presence of a price congestion resistance at $3,688reinforces the strength and complicates the situation. Above this last level, a large gap would open until the next resistance at the $3,900 price level.

 

 

The MACD on the 4-hour chart shows a bearish cross profile but in the positive zone of the indicator. It is the typical consolidation setting that can be stretched over time longer than desirable.

The DMI on the 4-hour chart shows the bulls progressively losing ground, while the bears cheered up yesterday at the last minute and manage to move above the 20 levels of the indicator, which gives them considerable strength.

ETH/USD 240 Minute Chart

The ETH/USD pair is currently trading at the $120.22 price level, just above the $120 price congestion support level. The Ethereum is also in the full consolidation phase, although the development is different from what we have seen in Bitcoin.

Below the current price, the first support at the level is cited above is $120(congestion support). The second level of support is at the price level of $115 and converges on the one level of the price congestion support, the SMA200, and the EMA50. With these components, it is quite complicated for the ETH/USD pair to pierce it quickly, but if it does, the third level of support is at $109.50 and is the confluence of a price congestion support and the SMA100.

Above the current price, the first resistance level is at the price level of $130 (price congestion resistance), then the second level at $140 (price congestion resistance) and the third resistance level at $150 (price congestion resistance).

 

 

The MACD on the 4-hour chart points down, but with very little inclination, so a bullish spread cannot be ruled out. However, if the objective of the averages is to reach the zero level of the indicator, the trajectory may take many days if it does not accelerate in the consolidation fall.

The DMI on the 4-hour chart shows the bulls resisting to give up positions, while the bears do not show much desire to dispute their leadership.

 

XRP/USD 240 Minute Chart

 

The XRP/USD is currently trading at the $0.299 price level. The XRP is one of the tees that shows the most advanced pattern. The resolution, in this case, will be seen in the next hours and will serve as an example of what we can see in Bitcoin and Ethereum in the following sessions.

Below the current price, the first support is $0.293 (support for price congestion). The second support level is $0.288 (price congestion support) while the third support level is $0.285 (price congestion support).

Above the current price, the first resistance level is at the $0.302 price level where the SMA100 and the EMA50 converge. The second resistance level is at $0.308(price congestion resistance) which is reinforced by the presence of the SMA200 at $0.314. The third resistance level is $0.334 (price congestion resistance).

 

 

The MACD on the 4-hour chart has fully developed the consolidation pattern and already rests on the zero lines of the indicator. This level is the most common to start a new upward stretch.

The DMI on the 4-hour chart shows an absolute balance between bulls and bears, both slightly above level 20. Either side that wins the encounter will emerge strongly from the battle.

Source: fxstreet

Advertisement

Cryptocurrencies

$415 Million in Bitcoin (BTC) Moves in Sudden Crypto Swing – Plus Ripple and XRP, Tron, Ethereum, Stellar, Litecoin

Published

on

From nearly half a billion dollars in Bitcoin on the move to an imminent upgrade on the Stellar network, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

In the last 24 hours, some of the biggest Bitcoin holders in existence moved a total of 76,519 BTC worth $415 million.

The mass crypto movements began soon after the leading crypto asset shed $2 billion in market cap, dropping from $5,622 to $5,492 in less than an hour, according to CoinMarketCap. The single biggest transfer of 19,000 BTC worth $102 million happened between two wallets of unknown origin.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 19,000 #BTC (102,867,835 USD) transferred from unknown wallet to unknown wallet

+

Of the nine biggest Bitcoin transfers in the last day, only one batch of BTC ended up on a crypto exchange, indicating this particular trader may be looking to sell 2,520 BTC worth $13.6 million.

The rest of the transfers happened between unknown wallets. The exact reason for the transfers, be it a simple move for security, an over-the-counter (OTC) trade, or some other purpose, remains shrouded in mystery.

Ripple and XRP

Ripple’s managing director of South Asia, the Middle East and North Africa talked about Ripple’s cross-border payment solutions at a recent roundtable in Dubai.

According to Navin Gupta, Ripple’s core mission is to make money as fast and easy to send as a simple email.

Ethereum

The Ethereum Foundation is collaborating with Filecoin owner Protocol Labs.

The two groups will work to build a Verifiable Delay Function (VDF), an emerging cryptographic algorithm that could help protect blockchains from manipulation strategies and attacks.

“At a high level, a VDF is a function that takes at least some amount of time, the ‘delay,’ to generate an output (even if you throw a bunch of processors at it), but whose output can be verified quickly and easily. For those who are interested in diving deeper, here is a succinct written explanation and here is a video describing VDFs and some candidate constructions.”

Litecoin

Litecoin creator Charlie Lee talks about the past, present and future of Litecoin and cryptocurrency at the 2019 Penn Blockchain Conference in Philadelphia.

Lee says scaling blockchain solutions are still not ready for prime time.

“It’s not solved yet. The Lightning Network is still in beta. There’s still growing pains. We are working on solving scaling with layer two and layer three solutions. If we go into another bull run this year… we’ll see high fees again.”

Stellar

The team at Stellar is getting ready to implement a core protocol update.

The upgrade includes stability and performance improvements, and will also implement a number of changes to fees on the network. You can check out the full list of changes here.

Tron

Tron technical director Marcus Zhao offered new details on the newly announced Sun Network in an interview with Mars Finance.

The layer-two scaling solution is expected to power a tokenized rewards system on BitTorrent, and according to Zhao, its main purpose is to improve the number of transactions per second as well as the smart contract execution efficiency of the Tron network.

News Source

 

Continue Reading

Cryptocurrencies

TOP 3 Price Predictions: BTC, ETH, XRP — Bitcoin Bullish Tendencies Intensified: Altcoins Are Looking For the Bottom

Published

on

If yesterday almost the whole crypto market was going up, today, only the price of Bitcoin is increasing. All coins out of the top 10 are reducing in their prices, while the biggest loser is Cardano, having lost more than 6% over the past 24 hours.

Against the background of it, the BTC’s domination rate has increased even more and now constitutes 54.3%. All times before, when such a scenario happens people switch again to altcoins. The capitalization of the cryptocurrency market makes up $182 billion.

BTC/USD

Yesterday, the coin broke through the resistance of $5,500 and the retest of the upper limit of the green corridor. Now we are expecting an update of the annual maximum in the region of $5,700.

BTC/USD chart by tradingview

It seems that the quotes of Bitcoin are trading out of logic, as the RSI indicator is showing the overbought, but no rollback occurs. The trading volumes are looking for their maxima; however, one needs to keep a cool head, as buyers can fix their profit at any time.

If the following bullish tendencies continue and the price reaches $5,800, there is a high possibility to see Bitcoin at $6,000 till the end of April.

The price of BTC is trading at $5,615 at the time of writing.

ETH/USD

Comparing to Bitcoin, the second most popular cryptocurrency is moving in the directly opposite way. Over the last day, its rate has been reduced by more than 2%.

ETH/USD chart by tradingview

On the 1-hour chart, we see that the price is on the way to break a support level at $167,25. If that happens, then the next aim is $160. In this regard, bears are dominating in the short-term position.

However, we need to get our attention to the BTC’s domination rate as currently people are not selling altcoins for fiat money but buying Bitcoin instead.

The price of ETH is trading at $170,62 at the time of writing.

XRP/USD

The price of XRP almost came back to the position of the first days of April, when its bull run started. Traders and investors are not showing too much interest in the coin, as its market cap has been stagnating since around Apr. 13 at about $13 billion.

XRP/USD chart by tradingview

Currently, the quotes are trading in the descending channel moving to the next support zone at $0.31,  which is confirmed by the MACD indicator.

To talk about a bullish trend of Ripple, its rate should increase up to $0.35 and consolidate there.

The price of XRP is trading at $0.3205 at the time of writing.

News Source

Continue Reading

Cryptocurrencies

Crypto Titan Predicts Bitcoin (BTC) Wave to $500K – Plus Ripple and XRP, Ethereum, Tron, Litecoin, Stellar, IOTA

Published

on

From an exponential Bitcoin prediction to the future of Litecoin, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

The CEO of Morgan Creek Capital, Mark Yusko, says he believes Bitcoin is poised to rise to $500,000 in the long run.

The hedge fund, which has more than $1 billion in assets under management, created the subsidiary Morgan Creek Digital in August of last year to give accredited investors, endowments, pensions and other approved institutional investors a way to gain exposure to Bitcoin and cryptocurrency.

In a new interview with Bitcoin Magazine NL, Yusko explains why he believes Bitcoin is headed for more exponential growth.

“…just Bitcoin-gold equivalence would be $7.4 trillion with a ‘T’ of market cap, which would mean a Bitcoin price of $400,000 to $500,000 per unit. Now, people say, ‘Well that’s ridiculous to talk about that.’ I’m like, ‘No it’s not.’ All big things start small. And all technology evolves over time.

So when the internet started in the early 90’s, nobody thought it was going to be important. Paul Krugman said it would never be more important than a fax machine. It’s a little more important than a fax machine…

So here we are on this next evolution of technology, where the blockchain era becomes the operating system for the Internet of Things and hundreds of billions of connected devices. And yes, it’s only $150 billion today. But tomorrow it’ll be $300 billion, and the next day it’ll be a trillion. And years from now we’ll look back and say wow, how did it get so big all of a sudden? Well, it gets big because of the S-curve of adoption, and we start growing exponentially.”

When asked if he really believes Bitcoin can climb that high, Yusko expanded on why he’s so bullish.

“I absolutely do. Now, whether it’s a decade or two decades from now, I don’t know. And that’s not really as important to me. What’s important to me about Bitcoin is owning a piece of the network. Because the way networks work, is they grow in this exponential fashion. And once the price starts to rise and people start being drawn into it just because of price movement, then it moves to speculation. When it becomes more focused on investment and people are putting capital in because they want to own a piece of the network, that’s when it can get big in a hurry.

Because that’s when a sovereign wealth fund can come in and say, ‘I want to own a billion dollars or two billion dollars of this network. That will change the supply/demand imbalance from – you know, people speculating with $100 or $1,000 isn’t going to change the long-term value of the network. But when big users start to say, ‘Hey, I want a portion of my fiat exposure to be hedged against a calamity in the financial system,’ that’s when Bitcoin, for example, can get very exciting.”

In February, Morgan Creek Digital announced it has successfully started a new fund that’s raised $40 million from two public pensions, a university endowment, an insurance company, a hospital system and a private foundation.

Ethereum

The creators of the popular web-based Ethereum wallet MyCrypto just launched a new mobile app on iOS.

Ambo is designed to let users buy, sell and store crypto. The app supports Ethereum and more than 170 Ethereum-based ERC20 tokens.

Ripple and XRP

Ripple is looking for a new senior engineering manager.

In total, the San Francisco-based startup now has 61 open positions including three jobs at Xpring, the company’s development arm focused on boosting the XRP ecosystem.

Litecoin

Litecoin founder Charlie Lee just sat down for an interview with the Unchained podcast.

Lee talks about what led him to launch Litecoin, his vision for the future of the platform and the benefits of implementing private Litecoin transactions.

Stellar

The team at Stellar is resetting its testnet on Wednesday.

The reset clears all ledger transactions and gives coders a clean slate as they work to build the next version of the platform. You can learn all about Stellar’s testnet here.

IOTA

After focusing on Europe, the IOTA Foundation is now focused on expanding its presence in the US and Canada to get the word out and support developers who want to build on the technology.

“…we are now starting to tackle our lack of presence in other regions, and in particular North America. However, it’s important to note, that North America is the starting point, but not exclusive to this expansion.

Efforts are already underway for further developments to occur in Central and South America. The strategies there will align with the lessons learned from expansion in North America, and will create a cohesive push for developments throughout the Americas as a whole.”

Tron

Tron founder Justin Sun is hosting a live stream on Thursday. Sun will talk about the new Tron-based version of Tether (USDT), and how he believes the stablecoin will add value to the network.

News Source

Continue Reading
Advertisement
Advertisement
Open

Close