BTC, ETH, XRP Price Analysis — Moving Towards $11,000 Against the Declining Trading Volume

Libra Coin News
Tue, 08/13/2019 - 11:34
Denys Serhiichuk
Bitcoin is slightly going down along with most of the top altcoins. Can bulls seize the initiative until the end of the week?
Cover image via www.123rf.com
Contents

August 13 the cryptocurrency market keeps stagnating without significant dumps or pumps. However, if a few days ago altcoins grew against Bitcoin and the US Dollar, the situation has changed today. All top 10 coins, except for Binance Coin are going down, while the biggest loser is EOS, whose rate has dropped by 1.45% over the last day.

Top 10 coins by CoinMarketCap

Before getting to the chart, let’s compare the key indicators of Bitcoin, Ethereum, and Ripple.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$202 607 956 355

$11 335,46

$13 503 713 680

-0,36%

Ethereum

ETH

$22 493 685 758

$209,63

$5 409 018 627

-1,45%

Ripple

XRP

$12 800 513 663

$0,298445

$731 315 128

-0,44%

It is worth noting that the trading volume index of Bitcoin has lost $10 Bln over the last 7 days.

BTC/USD

Our recent Bitcoin price prediction is coming true, as the leading crypto is moving toward $11,200 against the falling trading volume.

BTC/USD chart by TradingView

On the 1W chart, a long upper shadow is visible at the last candle - Bitcoin can not gain a foothold above $12,000 for the past seven weeks. If the price cannot conquer a level for a long time, it is most likely to fall to lower zones for consolidation.

The 5-day and 10-day MA are located at $ 10,804 and $ 10,625, which is strong support. Bitcoin needs to close the week above $12,000 to resume the rally. 

The price of BTC is trading at $11,313 at the time of writing.

ETH/USD

Although our previous forecast came true and Ethereum reached $215, the leading altcoin could not fix the level and rolled back below $210.

ETH/USD chart by TradingView

According to the chart, ETH is located under a bearish mood, followed by slight price rises. The lines of the MACD indicator are located sideways, suggesting the price fluctuations up and down. In this regard, Ethereum is likely to touch $205 soon, which is confirmed by the dropping trading volume and the absence of buyers. 

The price of ETH is trading at $208.68 at the time of writing.

XRP/USD

Ripple has also followed our recent prediction and the level of $0.2950 was easily achieved, XRP has fallen by 1% over the last 24 hours.

XRP/USD chart by TradingView

On the 4H chart, Ripple is trying to get out from the bearish tendencies, and it succeeds to a certain extent. MACD is moving upward, confirming the buyers potential. Respectively, XRP is likely to trade sideways in the range between $0.29 and $0.305 as it is outlined on the chart.

Related
Ripple's XRP Price Tanks by More Than 60 Percent on Beaxy Exchange. Here’s Why

The price of XRP is trading at $0.2970 at the time of writing.

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 make 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.


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