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XRP Price Analysis — Expecting $0.15 Soon

Price Predictions
Mon, 06/15/2020 - 09:09
Denys Serhiichuk
Will bears break the next support level of XRP soon?
XRP Price Analysis — Expecting $0.15 Soon
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 first days of the week the cryptocurrency market has stared with a bearish mood as the decline that started over the weekend has continued. As a result, all of the top 10 coins are in the red zone.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The decrease in the market has affected its capitalization, which has lost $10 Bln in just 24 hours.

Cryptocurrency market capitalization
Cryptocurrency market capitalization

The relevant data for XRP is as follows.

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $8,166,616,788

  • Price: $0.185130

  • Volume (24h): $1,146,291,860

  • Change (24h): -3.42%

The data is relevant at press time.

XRP/USD: Will the drop continue to support at $0.15?

Last Sunday, the $0.190  level hardly restrained sellers' attempts to squeeze XRP out of the side range. Last night, this support could not withstand another onslaught, and the price set a local minimum at $0.185.

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

In the morning, the decline stopped and buyers have been trying to return the price to the side range. If it fails to break the $0.19 line, then the decline will continue to the upper border of the purple downward channel.

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

On the 4H chart, XRP has settled below $0.1870, confirming the start of a long-term bearish trend. However, the bullish divergence has been formed on the RSI indicator, suggesting a possible correction. In this case, traders can expect a retest of the $0.1870 level before another wave of the decline starts.

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

On the daily time frame, the MACD indicator is declining, which means that bulls are unlikely to come back to the crucial level of $0.20. Thus, XRP keeps trading within the falling channel where the nearest support is the bottom of the channel at $0.17. The decreasing trading volume confirms the ongoing bearish mood.

XRP is trading at $0.1844 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.