TOP 3 Price Predictions: BTC, ETH, XRP — The Rise of Altcoins Made the Market Bearish

Libra Coin News
Thu, 09/19/2019 - 11:16
Denys Serhiichuk
Is the current decline the right time to accumulate positions before a new bull run?
Cover image via www.123rf.com
Contents

September 19 has started with a dump on the cryptocurrency market. While Bitcoin located in a sideways trend, altcoins showed significant growth. However, they could not support the rise of the whole market. The rates of all of the top 10 coins are going down, while the biggest loser is EOS, whose price has reduced by more than 5% over the last 24 hours.

Top 10 coins by Coinstats

The key indicators of Bitcoin, Ethereum, and XRP are looking the following way.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$177 448 233 414

$9 888,71

$17 902 595 465

-3,28%

Ethereum

ETH

$22 167 267 260

$205,63

$9 413 360 259

-3,33%

Ripple

XRP

$12 576 707 069

$0,292108

$2 426 362 392

-4,15%

BTC/USD

Our earlier Bitcoin forecast came true, and the price went even below the critical $10,000 level. The leading cryptocurrency has lost more than 3% over the last day.

BTC/USD chart by TradingView

On the 4H chart, BTC came back to the levels of the beginning of September when the coin located below $10,000. Regarding the short-term scenario, Bitcoin is likely to bounce back from the current levels to $10,000, as the RSI indicator is on the verge of the oversold area. However, there should be a buyer’s presence so the trend could switch to bullish in a long-term scenario.

Bitcoin is trading at $9,854 at press time.

ETH/USD

Despite the spectacular growth when Ethereum rocketed from $190 to around $220 within a few days, it also faced a correction. 

ETH/USD chart by TradingView

The leading altcoin has touched the local highs at $218, however, the further rise is unlikely to happen as the MACD indicator is sharply going down. Moreover, the Fibonacci retracement shows that the next level for ETH is $199.61 (61.8%). If the decline continues, Ethereum might achieve the point of $193.85 (50%).

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

Ethereum is trading at $206.34 at press time.

XRP/USD

Our recent XRP prediction remains relevant as the rate might drop to the point of $0.25. XRP is the biggest loser out of the top 3 coins, having lost more than 4% over the day.

XRP/USD chart by TradingView

According to the chart, XRP is moving within the Triangle pattern with the nearest support level at $0.27. However, if the trading volume does not go up, the drop may continue and the coin will touch the point of $0.25.

XRP is trading at $0.2911 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.


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