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XRP Price Analysis — How Long Will Sideways Trading Around $0.17 Last?

Price Predictions
Wed, 07/01/2020 - 10:20
Denys Serhiichuk
Which mark is XRP going to reach first: $0.18 or $0.16?
XRP Price Analysis — How Long Will Sideways Trading Around $0.17 Last?
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.

A slightly positive mood is affecting the cryptocurrency market at the moment. All most all of the coins from the top 10 list are in the green zone, except for XRP and Bitcoin SV (BSV) whose rates have fallen 0.20% and 1.82% respectively.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The market capitalization has also increased by about $1 Bln since yesterday and now amounts to $257.7 Bln.

The relevant data for XRP is below.

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $7,816,708,791

  • Price: $0.176431

  • Volume (24h): $1,022,327,548

  • Change (24h): -0.40%

The data is relevant at press time.

XRP/USD: Which direction will the breakout go?

Yesterday, in the morning, the price of XRP was under pressure from bears. As a result, before the end of the day, the pair sank to the $0.174 area and only in the morning was it able to recover slightly above the support at $0.175.

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

Today, trading is being held in small volumes, and if such low market activity persists throughout the day, the price will continue to move in the lateral range. The upper border of this range will be the two-hour EMA55, and the lower border will be weak support at $0.175. Increased bearish pressure might lead to a re-test of a strong support level at $0.170.

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

On the 4H chart, XRP has bounced off the support at $0.1750, having confirmed buyer pressure. The coin is trading within a Triangle pattern and remains bullish. The trading volume is not increasing. However, there is a high level of liquidity above it. In this case, the end-point might be the $0.1790 area, which buyers could reach in the nearest days.

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

On the daily time frame, volatility is declining against the ongoing price drop. There is no buyer resistance as the trading volume remains at the same level. What is more, XRP has remained in a falling channel, in which the next support is at $0.1680. If bulls cannot seize the initiative soon and reach $0.18, it will not be reached until mid-July 2020.

XRP is trading at $0.1760 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.