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XRP Price Analysis: $0.15 is Nearest Mark for Bears

Price Predictions
Sat, 06/27/2020 - 15:21
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Denys Serhiichuk
How is XRP’s rise relevant to the current market conditions?
XRP Price Analysis: $0.15 is Nearest Mark for Bears

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.

Cover image via www.tradingview.com

The cryptocurrency market is moving on a relatively positive note as all of the coins from the Top 10 list are showing green. Litecoin (LTC) is the leader on the chart, rising almost 3% since yesterday.

Top 10 coins by Coinstats
Top 10 Coins by Coinstats

Yet, the value of the overall market capitalization has remained relatively unchanged since the last week, and currently sits at $258.5B.

Market capitalization
Market Capitalization

Below is the relevant data for XRP and how it's looking today:

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $8,105,936,748

  • Price: $0.183153

  • Volume (24H): $1,145,130,973

  • Change (24H): 1.08%

XRP/USD: Can the Growth Possible in the Short-Term?

Even though the rate of the coin has added 0.46% in the last 24 hours, XRP continues to trade on a bearish note. However, the rate of decline since last week is up more than 2%.

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

Looking at the hourly chart, the trading volume continues to decline, confirming our statement about the bearish trend. The medium level of liquidity is the only thing that may keep XRP trading at its current levels. However, this is not enough as the sellers have a lot more strength. In this particular case, the most likely price action would be a decline to its nearest support level at $0.18.

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

Looking at the 4H time frame, the trading volume is mostly in control by the sellers; however, the level is not significant. This means that the bears are not actively selling anymore. However, the bulls are not as active yet to push the price of XRP up. Respectively, traders might expect the coin to trade sideways between the $0.18 and $0.1850 range within the next few days.

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

Looking at the bigger time frame, nothing crucial has changed. There are lowering heights on the daily chart, confirming pressure from the sellers. In this particular case, the next important area where the bulls might resist is at $0.17. It might be attained by the end of the current month. If the bears break it, then the next stop will be at the $0.15 mark.

At press time, XRP was trading at $0.1814.

 
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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
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Denys Serhiichuk
Will Ethereum (ETH) get to $240 in the ongoing growth?
Ethereum (ETH) Price Analysis — Will Bulls Reach $240 In Current Bounce?

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.

Cover image via www.tradingview.com

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.

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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.