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TOP 3 Price Analysis: BTC, ETH, XRP — Will Market Keep Growing After Such a Pump?

Price Predictions
Tue, 06/02/2020 - 14:40
Denys Serhiichuk
Can we expect a slight correction from Bitcoin (BTC), Ethereum (ETH), and XRP before one more wave of growth?
TOP 3 Price Analysis: BTC, ETH, XRP — Will Market Keep Growing After Such a Pump?
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Even after the sharp growth of Bitcoin (BTC) and other coins yesterday, the cryptocurrency market is neglecting a possible correction as all of the top 10 coins remain in the green zone. 

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The key statistics on Bitcoin (BTC), Ethereum ETH), and XRP are below.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$186 088 306 299

$10,117.84

$39 498 279 636

5.77%

Ethereum

ETH

$27 936 282 288

$251.27

$13 965 780 927

5.07%

XRP

XRP

$9 431 382 672

$0.213801

$1 856 834 392

4.54%

BTC/USD

Our last Bitcoin (BTC) price prediction has come true as the chief crypto reached the $10,500 mark this week. A five-day flat of about $9,500 ended with a powerful impulse above $10,400. After that, a wave of sales from $10,400 - $10,500 sent the price down. Bitcoin (BTC) has found support around $10,100 and has been trading in a narrow range of $10,130 - $10,080 for several hours.

Related 5 Reasons Why Cryptocurrency is a Good Investment
Related
5 Reasons Why Cryptocurrency is a Good Investment

For the third time since the beginning of the year, the first top crypto has been above $10,000. In February, the five-digit price of the main cryptocurrency was pleasing to the eye for 11 days. In May, it was possible to stay above the psychological mark of $10,000 for no more than a few hours.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

The price after the completion of the accumulation broke through resistance at $9,800 and went up to the target of $10,380. The upward movement is probably not over yet. If in the near future buyers will be able to gain a foothold above $10,000, the following aims for continued growth are located at $10,803 and $11,142.

Bitcoin is trading at $10,136 at press time.

ETH/USD

Ethereum (ETH) is showing almost the same growth as Bitcoin (BTC). The rise over the past day has amounted to 5.47%.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Ethereum (ETH) has come back to the $250 zone where the decline in March started from. However, there is no seller reaction on that level, suggesting that buyers have efforts to get the leading altcoin to $277. It will not be so easy to do so at first, which means that Ethereum (ETH) needs to face a sort of consolidation. In this case, the growth will possibly be followed by a decline to $240.

Ethereum is trading at $252.11 at press time.

XRP/USD

Even though XRP is showing the smallest price dynamics compared to Bitcoin (BTC) and Ethereum (ETH), the third most popular crypto has managed to rise by 4.77% since yesterday.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the daily chart, XRP might have started its long-term bullish cycle, which is confirmed by the MACD indicator. The coin is approaching the $0.219 mark on relatively high buying trading volume. The only thing that might be an obstacle is low liquidity. However, if the overall market mood remains positive, the said resistance will be attained in the first part of June.

XRP is trading at $0.2139 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.

Ethereum (ETH) Price Analysis — Will Bulls Reach $240 In Current Bounce?

Price Predictions
Tue, 07/07/2020 - 10:22
Denys Serhiichuk
Will Ethereum (ETH) get to $240 in the ongoing growth?
Ethereum (ETH) Price Analysis — Will Bulls Reach $240 In Current Bounce?
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The positive mood remains on the cryptocurrency market. While Bitcoin (BTC) is rising slightly, altcoins are outperforming the leading crypto. The top gainer from the 10 most popular coins is Bitcoin SV (BSV), whose rate has risen 14.34% over the past day.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The market capitalization has also increased against the rise of the market. At the moment, its index is $265.3 Bln.

Market Capitalization
Market Capitalization

The relevant data for Ethereum is below.

  • Name: Ethereum

  • Ticker: ETH

  • Market Cap: $26,416,726,830

  • Price: $236.59

  • Volume (24h): $8,170,001,858

  • Change (24h): 1.61%

The data is relevant at press time.

ETH/USD: Is the rise coming to an end?

The price of Ethereum (ETH) showed steady growth yesterday. During the day, the pair broke through the resistance at $233 and tested the POC line ($243.34) late at night. In the Asian session, growth stopped and the price rolled back to $240.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

If the bears strengthen the onslaught, then they can return the pair to $233. On the other hand, on the daily time frame, the Stoch RSI indicator lines have not yet reached the overbought zone and there is still some potential for growth. Overall, after a short pause, bulls might try to test the resistance at $247.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the 4H chart, Ethereum (ETH) is forming a Triangle pattern. The decline is supported by the rising trading volume which means that there is still space for going deeper. In this case, the first stop might be at the zone around $232 where most of the liquidity is concentrated. This scenario may unfold within days.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the bigger time frame, the growth potential remains, despite the highs becoming lower and lower. The bullish trend since March 2020 has not been broken so far, which means bulls may still set new local peaks. Such a statement is confirmed by the rising channel, which has continued since the end of June. If bulls keep pushing the altcoin higher, traders can expect Ethereum (ETH) to trade around $245 by the end of July.

Ethereum is trading at $235.65 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.