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XRP Price Analysis — $0.19 as First Obstacle Before Potential Rise

Price Predictions
Tue, 06/23/2020 - 12:50
Denys Serhiichuk
Are bulls about to change the XRP trend to bullish?
XRP Price Analysis — $0.19 as First Obstacle Before Potential Rise
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 cryptocurrency market keeps rising after gaining fuel over the weekend. All of the top 10 coins are in the green zone while Ethereum remains the top gainer.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The market capitalization has significantly increased over the past day. Currently, it is $269.6 Bln.

Cryptocurrency market capitalization
Cryptocurrency market capitalization

The relevant data for XRP is below.

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $8,354,750,285

  • Price: $0.188775

  • Volume (24h): $1,170,777,945

  • Change (24h): 0.92%

The data is relevant at press time.

XRP/USD: Trying to withstand bearish pressure

Yesterday, buyers failed to generate strong bullish momentum. The XRP/USD pair barely overcame the resistance at $0.19, setting a daily maximum at $0.191.

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

In the Asian session, XRP returned below the two-hour EMA55. Today the pair will try to maintain its positions in the lateral range at the level of average prices.

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

On the 4H time frame, XRP is growing against declining trading volume, which indicates a bounce off before a continued decline rather than the start of a new bull run. Moreover, the liquidity level is very low in the current area. In this case, traders can expect a rise to around $0.1950 followed by a further price drop.

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

On the daily chart, nothing has changed yet. Bears have been dominating for a long time without any significant bull resistance. Trading is taking place within a falling channel with no volume support. Respectively, a more likely price scenario is an upcoming drop to $0.1818 soon.

XRP is trading at $0.1891 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.