BTC, ETH, XRP, TRX, EOS Price Analysis - Does Possible Growth Apply to all Coins?

Price Predictions
Fri, 05/22/2020 - 18:28
Denys Serhiichuk
How far can bears take the rates of Bitcoin (BTC), Ethereum (ETH), XRP, TRON (TRX), and EOS?
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The correction on the cryptocurrency market has continued. Almost every coin from the top 10 list is showing a negative price mood. Bitcoin (BTC) is the top loser. Its rate has fallen more than 2% over the past day.

Top 10 coins by Coinstats

The key information for Bitcoin (BTC), Ethereum (ETH), XRP, TRX, and EOS is below.



Market Cap


Volume (24h)

Change (24h)



$168 483 721 910

$9 165.14

$38 130 234 983




$22 601 443 411


$13 348 639 106




$8 835 200 163


$1 962 165 601




$975 098 818


$1 550 459 545




$2 362 551 109


$2 603 818 612



The price of Bitcoin (BTC) has left the $9,800- $9,200 range. Attempts to consolidate above $9,800 were not successful. Yesterday's price was confirmed at $8,800. After that, the main coin returned above $9,000 and has now been trading for more than 12 hours in the $8,960- $9,070 range.

BTC/USD chart by TradingView

Yesterday, the price set a minimum at around $8,815. This mark coincides with a coefficient of 38.2% Fibonacci. And if the movement from the lows of May 10 were an impulse, then to continue the growth in Bitcoin (BTC), it is necessary to gain a foothold above $8,800. In case of a breakdown of this support, the decline will be deeper. The main resistance zone, at the moment, is $9,290- $9,300. This level is a confirmation of the continuation of the upward scenario. Holding below $8,800 may lead to a decrease to $8,535 and $8,327.

Bitcoin is trading at $9,177 at press time.


Surprisingly, Ethereum (ETH) is showing less decline than Bitcoin (BTC). The rate of the leading altcoin has decreased by 1.37% over the past day.

ETH/USD chart by TradingView

Ethereum (ETH) might have already finished its rise after the dump in mid-March. On the daily time frame, the coin has reached the high line of the falling channel. It has quite a small chance of breaking through it as the trading volume continues going down. Also, based on the liquidity zone, there is no interest from bulls to push the rate higher. Summing up, Ethereum (ETH) may retest the closest level of $190 soon.

Ethereum is trading at $202.51 at press time.


XRP, as usually happens, has continued rising while the market keeps going down. The rate of the coin has increased by 1.19% over the past 24 hours.

XRP/USD chart by TradingView

On the 4H chart, the bearish scenario is prevailing over the bullish one even though the last candles where green. XRP has continued trading in a sideways trend. However, the level of buyer trading volume is declining. Also, the lines of the Bollinger Bands indicator are moving down in a wide range, confirming the trend. If the trading volume remains at the same level, the coin might drop to $0.19 within the next days.

XRP is trading at $0.2070 at press time.


TRON (TRX) is also going down. However, the decline is much weaker compared to that of Bitcoin (BTC). The price drop has amounted to only $0.92, but the coin is becoming less popular among traders as it is in 18th place in the total ranking.

TRX/USD chart by TradingView

On the daily chart, TRON (TRX) is about to finish the Elliot correction wave formation. Such a statement is supported by the low liquidity level at the current zone and a high one in the range between $0.11-$0.12. If buyers are not able to create growth soon, the decline might continue to the point 'C' on the correction model, which corresponds to $0.12.

TRX is trading at $0.0145 at press time.


EOS is trading similarly to TRON (TRX). However, it is unlikely to face such a deep decline. The rate of the 8th most popular coin has fallen 1.18% since yesterday.

EOS/USD chart by TradingView

From a technical point of view, EOS is about to start trading sideways as its liquidity level is high enough at the moment. On the other hand, the trading volume is low which is a bearish signal. Respectively, one might expect EOS to trade between $2.30-$2.40 in the nearest days.

EOS is trading at $2.52 at press time. 

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at

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