TOP 3 Price Analysis: BTC, ETH, XRP — Bearish Mood Getting Stronger, Though Major Coin Prices Rising

Price Predictions
Thu, 06/11/2020 - 14:06
Denys Serhiichuk
Have Bitcoin (BTC), Ethereum (ETH), and XRP entered a long-term bearish trend?
Cover image via www.tradingview.com

After a failed attempt from Bitcoin (BTC) to hold above $10,000, the main coin and the whole cryptocurrency market has switched to the red zone.

Top 10 coins by Coinstats

The vital data for Bitcoin (BTC), Ethereum ETH), and XRP is below.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$179,541,855,580

$9,757.04

$27,425,817,010

-0.83%

Ethereum

ETH

$27,099,000,452

$243.47

$10,558,764,558

-0.75%

XRP

XRP

$8,818,833,892

$0.199915

$1,176,169,791

-2.26%

BTC/USD

Bitcoin (BTC) has failed to retest the $10,000 mark once again, having formed a false breakout. The price of the main crypto has declined 0.78% since yesterday.

BTC/USD chart by TradingView

On the daily time frame, the leading crypto might have started its long-term bearish trend after the bull run that began in March 2020. Against declining trading volume, bulls again failed to reach $10,000. Currently, the bearish scenario is more relevant as there is not enough liquidity at the current levels. The first place bears might face problems is at $9,400. If they break this level, the next one will be around $9,100.

Bitcoin is trading at $9,668 at press time.

ETH/USD 

Yesterday, in the morning, the price of Ethereum (ETH) consolidated above the two-hour moving average EMA55. At the end of the day, buyers broke through the resistance of $247 and tested the level of $250. Bears tried to return the price to the area of average prices, but by the end of the day, the pair recovered above the border at around $247.

ETH/USD chart by TradingView

If bulls continue the offensive today, then the daily maximum could be at the resistance area of $265. Otherwise, a drop to $230 will take place shortly.

Ethereum is trading at $240.20 at press time.

XRP/USD 

The price of XRP consolidated yesterday in a narrow side range under the two-hour EMA55. In the evening, buyers tried to break through the average price level and the pair tested the POC line ($0.204 USD).

XRP/USD chart by TradingView

At night, the price held in a narrow side range above the moving average EMA55. Today we can expect a breakthrough into the resistance area around $0.213. The pair may gain a foothold in the area of $0.22.

XRP is trading at $0.1961 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 denys.serhiichuk@u.today.

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