Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Bitcoin points to $8000, but it won’t be a non-stop …

Again, the time has come for Ethereum to do better than Bitcoin, after losing ground to the King from February 24th and onward. The indicators do not …
  • Breaking above the current zone is crucial for the medium term.
  • ETH/BTC is at similar levels to those seen on November 17, prior to the bullish boom.
  • XRP continues to suffer and remains the fragile face of the market.

We come to the end of the week and Bitcoin continues to show signs of strength as it surpasses the $6,200 level. The target for the move is around $8,000, but it looks like it is not going to be easy as it continues to evolve upward in the short term.

Again, the time has come for Ethereum to do better than Bitcoin, after losing ground to the King from February 24th and onward. The indicators do not confirm this scenario at the moment, but the chances of it being confirmed are high.

For its part, XRP continues to suffer, and despite today’s rise, it has significant barriers to overcome. Speculation of an improvement mounts thanks to the launch of xCurrent 4.0, an evolution of xRapid.

ETH/BTC Daily Chart

The ETH/BTC crypto cross is currently trading at the price level of 0.0276, just above the critical price congestion support of 0.0275. There are a lot of days ahead, but it is currently drawing a perfect Doji that if held to close, would give an excellent entry point to the upside.

Ethereum has a long way to go against Bitcoin if it wants to return to trading at normal levels. So, it may be worth watching its movement very closely.

Above the current price, the first resistance level is at 0.0291 (price congestion resistance), then the second resistance level to examine is at 0.0301 (price congestion resistance). The third resistance level for the ETH/BTC pair is at 0.0316 (price congestion resistance).

Below the current price, the first support level is at 0.0275 (price congestion support), then the second support level is at 0.0268 (price congestion support). The third support level for ETH/BTC is 0.024 (price congestion support), a level not seen since August 2017, weeks before that bullish explosion we all remember so vividly.

The MACD on the daily chart shows a very flat and deviated profile on the downside, so the statistic gives much more probability to a possible improvement than to a continuation of the bearish momentum. However, for now, the bearish phase continues.

The DMI on the daily chart shows how bears continue to dominate the market. The bulls surprise and maintain their tone despite the falls and current levels. This divergence between price and trend strength cannot be ignored.

BTC/USD Daily Chart

BTC/USD is currently trading at the $6,280 price level, showing some difficulty in continuing to move higher. The current standards are technically remarkable, as these price levels were the ones lost last November as the Crypto-Winter took over from the Crypto-Autumn.

Although it is not pleasant to see the price fall, it would be technically healthy if BTC/USD pair now confirms the conquest of the ultra-long-term bear channel.

Above the current price, the first resistance level is formed by a sequence of price congestion resistance that extends to $6,800. Then the next resistance level is $7,100 (price congestion resistance). The third resistance level is at $7,450 (price congestion resistance). The BTC/USD pair targets the $8,000 zone for this scenario, a level it could reach very soon if the current confluence is not enough to contain Bitcoin’s bullish force.

Below the current price, the first support level is at $6,200 (price congestion support), then the second support level is at $5,800 (price congestion support). The third level of support for the BTC/USD pair is at $5,750 (price congestion support).

The MACD on the daily chart shows a good uptrend as well as an adequate opening. The structure is divergent with the price, so you have to pay attention.

The DMI on the daily chart shows bulls controlling the market with many advantages over bears at shallow levels of activity. Both sides of the market are moving below the ADX line, depriving both groups of any trend potential.

ETH/USD Daily Chart

ETH/USD is currently trading at $173, moving just above the $170 price congestion support level.

Above the current price, the first resistance level is $180 (price congestion resistance), then the second resistance level is $190 (price congestion resistance), while the third resistance level for ETH/USD is $195 (price congestion resistance).

Below the current price, the first support level is at $170 (price congestion support), then the second support level for the ETH/USD pair is at $160 (price congestion support and EMA50). The third level of support is at $155 (price congestion support).

The MACD on the daily chart shows a bullish cross that for now has neither a proper inclination nor a good opening between the lines. It is a concrete structure, but it reflects the sideways situation of the ETH/USD pair.

The DMI on the daily chart shows potential for a very bullish structure. Bulls have a good advantage over bears and move above the ADX line, so they have no limitations to the upside.

XRP/USD Daily Chart

XRP/USD is currently trading at $0.298, down from the $0.30 psychological level. The XRP’s delicate situation is worrisome, although at any time it can soar upwards without needing an excuse.

Above the current price, the first resistance level is $0.30 (price congestion resistance), then the second resistance level is $0.308 (very long term bearish trend line). The third resistance level for the XRP/USD pair is $0.317 (SMA100, EMA50 and price congestion resistance).

Below the current price, the first support level is $0.296 (price congestion support), then the second support level is $0.293 (price congestion support), while the third support level for the XRP/USD pair is $0.288 (price congestion support).

The MACD on the daily chart shows a fully flat profile that hardly provides information on possible scenarios in the short term.

The DMI on the daily chart shows bears at an advantage over bulls but at minimum trend strength levels. An asset in relative lows and with low volatility is not a scenario where a speculator can feel comfortable.

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Price Watch: Bitcoin, Ethereum, Ripple and EOS Price Analysis 10th May

There were swing moves in binance coin (BNB), Ethereum (ETH), ripple (XRP), bitcoin cash (BCH), litecoin (LTC), stellar (XLM), ADA, EOS, and TRX.

Bitcoin price rallied strongly above $6,200 and $6,300 in the past few days. BTC remains in an uptrend, but it seems to be approaching a couple of important resistances near $6,400 and $6,500.

Conversely, major altcoins failed to climb higher. There were swing moves in binance coin (BNB), Ethereum (ETH), ripple (XRP), bitcoin cash (BCH), litecoin (LTC), stellar (XLM), ADA, EOS, and TRX. They are holding key supports and might attempt to rebound once bitcoin corrects lower.

Cryptocurrency Price Watch

Read: Trade Cryptocurrency at eToro

Key Takeaways:

  • Bitcoin price surged higher above the $6,000 and $6,250 resistances.
  • Ethereum price climbed above $170, but it is facing many hurdles near $178 and $180.
  • Ripple price declined recently and traded close to the $0.2900 support area.
  • EOS price tested the $4.60 support level and it is currently moving higher.
  • JCT and IOV surged more than 300% in the past 7 days.

Bitcoin Price Analysis

This week, bitcoin price formed a strong uptrend and broke the key $5,650 and $5,750 resistances. BTC rallied above the $6,000 and $6,200 resistance levels to post a new multi-month high. More importantly, the bulls were unfazed near the $6,200 resistance level and the price extended gains recently.

Bitcoin Price Analysis BTC Chart

Bitcoin Price Chart: Click to Enlarge

Looking at the 4-hours chart, the price gained momentum after it settled above the $6,000 resistance and the 21 simple moving average (4-hours). There were multiple spikes above the $6,200 level and the price recently surged above the $6,300 resistance.

A new 2019 high was formed at $6,385 and the price is clearly placed in a solid uptrend. An initial support on the downside is near $6,295, and the 23.6% Fib retracement level of the recent wave from the $6,006 low to $6,386 high.

The main support is near the $6,200 level plus the 50% Fib retracement level of the recent wave from the $6,006 low to $6,386 high. There is also a crucial ascending channel in place with support near $6,150 on the same chart.

Therefore, if the price corrects lower, it is likely to find a strong buying interest near the $6,200 and $6,150 levels. If there is a downside break below the channel support, the price could test the $6,000 support or the 1.236 Fib extension level of the recent wave from the $6,006 low to $6,386 high at $5,917.

Conversely, if bitcoin price extends rally above $6,380 and $6,400, the next stop for the bulls could be near the $6,500 level. Above $6,500, the price is likely to face a strong barrier near $6,800-6,850 (as discussed in the recent bitcoin price analysis using the daily chart).

Ethereum Price Analysis

Ethereum price started a slow and steady from the $156.00 support level. ETH above the $160.00 resistance level to start a decent rebound towards $175.00 and $180.00.

Ethereum Price Analysis ETH Chart

Ethereum Price Chart: Click to Enlarge

Looking at the 4-hours chart, the price rallied recently above the $185.00 level and the 21 simple moving average (4-hours). A new monthly high was formed near $191.95 and recently the price corrected lower sharply.

It broke the $178.00 support and retested the $170.00 support level. A swing low was formed at $169.15 and the price is currently moving higher. It broke the 23.6% Fib retracement level of the last drop from the $191.95 high to $169.15 low.

However, the $178.00 resistance and the 21 simple moving average (4-hours) are currently acting as resistance. The 50% Fib retracement level of the last drop from the $191.95 high to $169.15 low is also near the $180.00 level to prevent gains.

If the price breaks the $178.00 and $180.00 resistance levels, it could climb higher towards the $190.00 and $192.00 levels.

Conversely, if Ethereum price declines again, it could find support near $171.00 and a major bullish trend line on the same chart. Only a close below the $170.00 support might push the price back towards the $165.00 or $164.00 support.

Ripple Price Analysis

Ripple price struggled on many occasions to clear the $0.3250 and $0.3300 resistance levels against the US Dollar. As a result, XRP/USD started a fresh decline and broke the key $0.3090 support area to enter a bearish zone.

Ripple Price Analysis XRP Chart

Ripple Price Chart: Click to Enlarge

Looking at the 4-hours chart, the price declined below the $0.3050 support and the 21 simple moving average (4-hours). It even broke the $0.3000 support and traded as low as $0.2945 recently.

It is currently correcting higher above $0.2950, and the 23.6% Fib retracement level of the recent decline from the $0.3234 high to $0.2945 low.

However, there are many resistances on the upside near the $0.3080, $0.3090 and $0.3100 levels. The 50% Fib retracement level of the recent decline from the $0.3234 high to $0.2945 low is also near the $0.3090 level to act as a resistance.

Moreover, there is a crucial bearish trend line in place with resistance near $0.3160 on the same chart to stop the upward move.

As long as the price is below $0.3100, it remains in a bearish zone. An immediate support is at $0.2960, below which there is a risk of more losses below the $0.2945 level. The next major support area for the bulls is near the $0.2900 level.

If there more losses below $0.2900 and $0.2880, ripple could slide sharply towards the $0.2800 support in the near term.

EOS Price Analysis

EOS price topped near the $5.45 and $5.50 resistance levels against the US Dollar. As a result, the price started a downward move and broke the $5.20 and $5.10 support levels.

EOS Price Analysis Chart

EOS Price Chart: Click to Enlarge

Looking at the 4-hours chart, the price even broke the $5.000 support level and the 21 simple moving average (4-hours). It tested the key $4.600 support area and formed a swing low at $6.609.

Recently, it corrected higher sharply above $4.800 and the 50% Fib retracement level of the last decline from the $5.178 high to $4.609 low. However, the upside move was capped by the $4.960 and $5.000 levels.

Besides, the 61.8% Fib retracement level of the last decline from the $5.178 high to $4.609 low also prevented gains. More importantly, there is a key bearish trend line in place with resistance near $5.040 on the same chart.

The price must clear the $5.000 resistance and the trend line to climb further higher. The next key resistance could be $5.178. The final bull target might be $5.300 or the 1.236 Fib extension level of the last decline from the $5.178 high to $4.609 low.

Overall, EOS price remains well supported above $4.600 and $4.500. On the upside, the bulls need to gain traction above $5.000 to start a fresh increase in the near term.

Top Gainers

During the past 7 days, a few small cap altcoins jumped higher and gained more than 100%, including JCT, IOV, XBX, FIII, ABT, VOLLAR, JOT and ERC20 (trading volume more than $50K). Out of these, JCT rallied around 350% and IOV gained nearly 320%.

Overall, bitcoin is placed in a strong bullish trend above $6,000 and it may test the $6,400 or $6,500 resistance. Once BTC starts a downside correction, there are chances of a decent recovery in most major altcoins, including Ethereum, ripple, bitcoin cash, litecoin, XLM, ADA, TRX, EOS, DASH, BNB, XMR, NEO, and IOTA.

The market data is provided by TradingView, Bitfinex.

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Bitcoin (BTC) Price Defies Gravity With Upsurge, Bulls Aiming $6.5K

Bitcoin price rallied more than 4% and cleared $6,300 against the US Dollar. BTC remains in a strong uptrend and it seems like the bulls are now …

  • Bitcoin price was unfazed and it recently broke the $6,200 resistance level against the US Dollar.
  • The price even broke the $6,300 level and it seems like the bulls are now aiming $6,500.
  • There is a major bullish trend line forming with support at $6,050 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could find a strong buying interest if it corrects lower towards $6,100 or $6,000.

Bitcoin price rallied more than 4% and cleared $6,300 against the US Dollar. BTC remains in a strong uptrend and it seems like the bulls are now aiming a test of $6,400 or even $6,500.

Bitcoin Price Analysis

This week, bitcoin price overcame all hurdles and rallied above $6,000 and $6,200 against the US Dollar. The BTC/USD pair gained bullish momentum after it settled above $6,100 and the 100 hourly simple moving average. Recently, it broke a bullish flag pattern with resistance near $6,040 on the hourly chart to start a strong upward move. As a result, the bulls pushed the price above the $6,250 and $6,300 resistance levels. A new 2019 high was formed at $6,315 and the price is likely to extend gains.

An initial support is near the $6,230 level, and the 23.6% Fib retracement level of the recent rally from the $5,961 low to $6,315 high. If there is a downside extension, the next key support could be $6,140. It represents the 50% Fib retracement level of the recent rally from the $5,961 low to $6,315 high. More importantly, there is a major bullish trend line forming with support at $6,050 on the hourly chart of the BTC/USD pair. Moreover, the previous resistance area near $6,050 is likely to act as a strong buy zone if the price corrects lower.

Besides, the price is now well above the $6,000 pivot level and the bullish 100 hourly SMA. Therefore, there are chances of more upsides above the $6,300 and $6,350 levels. The next main hurdle is near the $6,400 level, above which the price could rally towards the $6,500 level.

Bitcoin Price Analysis BTC Chart

Bitcoin Price Analysis BTC Chart

Looking at the chart, bitcoin price is gaining bullish momentum above $6,200 and $6,300, with no major bearish sign. In the short term, there could be a few bearish moves, but dips remain supported near the $6,200 and $6,100 levels. Only a daily close below $6,000 and the 100 hourly SMA could start a substantial downside correction.

Technical indicators:

Hourly MACD – The MACD is currently placed heavily in the bullish zone, with positive signs.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently correcting lower in the overbought zone.

Major Support Levels – $6,200 followed by $6,140.

Major Resistance Levels – $6,300, $6,400 and $6,500.

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Crypto Market Holding Uptrend: Bitcoin Rallies 4%, BNB Tumbles, BCH, EOS, TRX Analysis

The crypto market cap is mostly flat, despite heavy gains in bitcoin (BTC). Most altcoins such as binance coin (BNB), Ethereum (ETH), bitcoin cash, …

  • The total crypto market cap is currently placed nicely above the $180.0B support area.
  • Bitcoin price surged another 4% and broke the $6,250 and $6,300 resistance levels.
  • EOS price is down 1.5% and it is currently trading above the $4.85 support level.
  • Binance Coin (BNB) declined sharply and tumbled more than 8% below the $20.00 support.
  • Bitcoin cash price is currently holding gains above the $285 and $290 support levels.
  • Tron (TRX) price is down 5% and it recently broke the key $0.0240 support level.

The crypto market cap is mostly flat, despite heavy gains in bitcoin (BTC). Most altcoins such as binance coin (BNB), Ethereum (ETH), bitcoin cash, tron (TRX), ripple, litecoin and EOS are currently moving lower.

Bitcoin Cash Price Analysis

There was a decent recovery in bitcoin cash price above the $285 resistance against the US Dollar. The BCH/USD pair even traded above the $290 level and tested $292. At the moment, the price is trading in a range near the $290 support level.

If there is a downside break below the $290 support, the price is likely to slide towards the $285 support. On the upside, the main resistances are near $295 and $300. As long as the price is below $300, it may trade in a broad range.

Binance Coin (BNB), EOS, Tron (TRX) Price Analysis

EOS price struggled to clear the key $4.95 and $5.00 resistance levels. The price recently broke the $4.90 support level and it seems like it could test the $4.85 support level in the near term. Any further declines may push the price towards the $4.80 level.

Tron price trimmed most its gains above the $0.0242 level. TRX price is down more than 5% and it recently broke the $0.0240 support level. It is back in a downtrend and it could extend losses towards the $0.0230 support.

Binance coin (BNB) came under a lot of selling pressure and it recently declined below the $21.00 and $20.00 support levels. BNB price is down more than 8% and it seems to be approaching the $18.50 support level.

Crypto Market Cap Bitcoin Cash BTC BCH EOS TRX BNB

Crypto Market Cap Bitcoin Cash BTC BCH EOS TRX BNB

Looking at the total cryptocurrency market cap 4-hours chart, there is a solid bullish bias formed above the $178.0B and $180.00 support levels. The market is also following a strong bullish trend line with current support at $181.0B on the same chart. Therefore, as long as the market cap is above the $180.0B support, it could continue to move higher. On the upside, the main resistances levels are $186.6 and $188.0B. The current trend for bitcoin is super bullish, but most altcoins such as ether, TRX, LTC, EOS, ripple, ADA, XLM, WAN, BCH, and XMR are struggling to follow BTC.

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Litecoin (LTC) Price Analysis: Fresh Increase Likely As Bitcoin Breaks $6.3K

Litecoin price formed a strong support near the $72.00 level and recovered against the US dollar. LTC broke the $74.00 resistance and it could …

Litecoin price formed a strongsupport near the $72.00 level and recovered against the US dollar. LTC brokethe $74.00 resistance and it could accelerate gains along with bitcoin.

Key Talking Points

  • Litecoin price remained well supported near the$71.50 and $72.00 levels (Data feed of Kraken) against the US Dollar.
  • There was a break above a key bearish trend linewith resistance near $74.00 on the hourly chart.
  • LTC price is gaining bullish momentum and it couldclimb above the $77.00 and $78.00 levels.

Litecoin Price Analysis (LTC)

In the past two sessions, there was a strong rally in bitcoin, while gains were contained in altcoins such as Ethereum, EOS, litecoin and ripple against the US Dollar. Earlier, the LTC/USD pair declined below the $74.00 level and tested the $72.00 support area.

Litecoin Price Analysis LTC ChartLitecoin Price Analysis LTC Chart

Looking at the chart, LTC price traded as low as $71.99 and later started consolidating in a range. It slowly moved above the 50% Fib retracement level of the last decline from the $77.92 high to $71.99 swing low.

Finally, the bulls came into action, resulting in gainsabove $74.00, $75.00, and the 100 hourly simple moving average. Besides, there wasa break above a key bearish trend line with resistance near $74.00 on thehourly chart.

The pair even surged above the 76.4% Fib retracement levelof the last decline from the $77.92 high to $71.99 swing low. It traded closeto the $77.92 swing high and remains in a decent uptrend.

It seems like there could be a short term downside correctiontowards $75.00 or $74.00 before the price climbs higher again. On the upside, abreak above the $78.00 resistance will most likely open the doors for a sharpupward move towards the $80.00, $82.00 and $84.00 levels.

Overall, litecoin price is slowly gaining momentum alongwith bitcoin. However, LTC price must break the $78.00 resistance level tocontinue higher. Conversely, if there is a downside correction, the price mayfind bids near the $75.00 or $74.00 level in the coming sessions.

The market d2ata is provided by TradingView.

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