TOP 3 Price Predictions: BTC, ETH, XRP — Bitcoin Bounced Off $8,000 Support, Altcoins Are Looking For A Breakout

Libra Coin News
Wed, 10/02/2019 - 07:19
Denys Serhiichuk
The market is again in the red zone. Any signals for a possible bounce off?
Cover image via www.123rf.com
Contents

Bulls could not show strength even in the short-term scenario, as the price of the leading crypto pulled back to the previous levels at around $8,300. Altcoins have followed BTC’s decline and all top 10 coins are located in the red zone. Bitcoin SV has suffered the most, its rate has gone down by almost 7% over the last 24 hours. The dominance rate of BTC has unchanged and constitutes 67.7%.

Top 10 coins by Coinstats

The main data of Bitcoin, Ethereum, and XRP are looking the net way.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$147 840 888 813

$8 227,70

$14 404 625 334

-2,82%

Ethereum

ETH

$18 950 611 213

$175,51

$7 131 668 628

-4,26%

XRP

XRP

$10 651 632 472

$0,247013

$1 204 886 220

-4,56%

BTC/USD

Our recent Bitcoin price forecast is justifying itself, as the price is moving within the descending channel. BTC fell by 27% during the third quarter and the decline might continue. A decrease in the price of Bitcoin by more than 25% is the largest loss since in third-quarter since 2011 when it was 55%.

 

BTC/USD chart by TradingView

September 28, buyers tried to break through the MA 200, but the price rolled back to the mark of 3.5 months ago after the retest. RSI is currently in the oversold zone on the daily chart but so far there are no signs of bear exhaustion necessary for an upward correction. 

Summing up, the rate will go down to the crucial level at $8,000 in the upcoming days, which is confirmed by the declining trading volume.

Bitcoin is trading at $8,219 at press time.

ETH/USD

Ethereum is one of the biggest losers out of the top 10 coins. Its price has plummeted by 4.26% over the last day.

ETH/USD chart by TradingView

The chief altcoin keeps trading within a downtrend movement since the end of June 2019. Currently, bears are dominating on the market without any bulls’ pressure. Such a tendency is confirmed by the decreasing trading volume and the declining MACD indicator. Respectively, Ethereum is likely to test the nearest support at $165 soon.

Related
Ethereum (ETH) Price Prediction — Can ETH Get Back to $200 Until September 2019?

Ethereum is trading at $175.17 at press time.

XRP/USD

XRP is the top loser today, as its rate has declined by 4.56% over the last 24 hours. However, the current level is not the lowest level for the third most popular crypto.

XRP/USD chart by TradingView

On the 4H chart, most of the trading activity is taking place in the range between $0.23 and $0.24. Currently, traders are fixing profit from the bullish candle that occurred on September 30. 

In this regard, the price is about to come back to the previous level at $0.24 in a few days. There are no chances for a price rise due to the absence of buyers according to the trading volume index.

Related
XRP Price Prediction for September 2019: Can $0.30 Be Finally Conquered?

XRP is trading at $0.2455 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 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.