Connect with us

Hi, what are you looking for?

ELEVENEWS

Cryptocurrencies

Top 3 price prediction Bitcoin, Ripple, Ethereum,: Altcoins’ pre-season knocks on doors

  • Ethereum presents its candidacy to lead a positive turn in markets after magnificent behavior.
  • Bitcoin resists over $10,000 but loses pace against Ethereum.
  • XRP ignores the moment and disassociates itself from the Altcoin segment. Should it be considered as such?

As is customary in the Cryptocurrencies market, weekend trading results in significant movements. On this occasion, it is the Altcoin segment – and especially Ethereum –  that opens Monday’s session with a considerable gain over Friday’s close.

From a technical perspective, the most remarkable thing is the excellent performance of the ETH/BTC pair, breaking above the 0.018 level and advancing quickly towards 0.019.

It is an excellent time to remember that the ETH/BTC pair has, on the weekly chart, the simple average of 100 periods at the 0.047 level. This target would mean multiplying by 2.5 times the Bitcoin value of our Ethereum portfolio. Not a bad business!

ETH/BTC Daily Chart

ETH/BTC is currently trading at the price level of 0.01884, where the presence of the 50-period exponential moving average has halted the bullish development. This price level also coincides with resistance due to price congestion, which adds difficulty to the obstacle.

How the ETH/BTC pair moves in the next few hours will provide us with relevant information on the genuine buyer interest after the gains seen in the past three days.

Above the current price, the first resistance level is at 0.0189, then the second at 0.020 and the third one at 0.022.

Below the current price, the first support level is at 0.0185, then the second at 0.018 and the third one at 0.0173.

ETHBTC

The MACD on the daily chart improves the bullish profile as it increases inclination and openness between the lines. Moving averages are close to the zero levels of the indicator, which makes it difficult for the pair to advance. 

The DMI on the daily chart clearly shows how the bulls have gained strength and reach a significant level of trend strength. The inclination of the D+ proposes the bullish continuity in the short term. 

BTC/USD Daily Chart

BTC/USD is currently trading at $10,318 price level. The market is ignoring King Bitcoin in the last few days of rallies. It is a behavior that goes against the maximalists who predict the end of the Altcoin segment. 

The structure of the daily chart for BTC/USD remains very weak. The price below the main moving averages but showing few options to beat them and join the Ethereum getaway and return the Moon to the headlines.

Above the current price, the first resistance level for BTC/USD is at $10,450, then the second at $10,675 and the third one at $11,300.

Below the current price, the first level of support is at $9,700, then the second at $9,150 and the third one at $8,800.

BTC/USD

 The MACD on the daily chart shows how the average level of the indicator has worked for the time being. Moving averages lose openness between them as well as bullish inclination. 

The DMI on the daily chart shows a technical tie, with a slight advantage for the bears – a very different scenario to the one we have seen in ETH/BTC. 

ETH/USD Daily Chart

ETH/USD is currently trading at $194.6 after reaching an exponential average of 50 periods in Asian trading hours, where the rally has come to a halt.

The structure of the moving averages indicates high probabilities that the bullish turn of Ethereum will continue, and the Prince of Altcoins can move up quickly.

Above the current price, the first resistance level is at $195, then the second at $200 and the third one at $206.

Below the current price, the first support level is at $190, then the second at $180 and the third one at $170.

ETHUSD

The MACD on the daily chart has improved since last Friday. The bullish profile has grown and has the necessary degrees of inclination to be able to overcome without problems the level 0 of the indicator. Line spacing is also improving.

The DMI on the daily chart shows bulls taking advantage of bears. The bulls are above level 20 and give an active trend signal, while the bears suffer the opposite — both sides of the market move below the ADX line, which will limit the development of both.


XRP/USD Daily Chart

XRP/USD is currently trading at $0.262 and continues to show extremely worrisome weakness. The way XRP ignores market movements confirms the initial idea that this asset should not belong in this category. If it was used to capitalize on the parent company, it should be considered equity participation.

Above the current price, the first resistance level is at $0.268, then the second at $0.28 and the third one at $0.288.

Below the current price, the first support level is at $0.258, then the second at $0.25 and the third one at $0.24.

XRPUSD

The MACD on the daily chart continues to show a mild bullish profile. It has not improved and continues to approach the average level of the indicator with a profile with few options of getting an upward cross.

The DMI on the daily chart shows how the bears continue to dominate the XRP/USD pair. The bulls show a definite improvement over Friday but insufficient to stand up to the selling side.

News Source

Advertisement

Copyright © 2020 Elevenews