Cryptocurrencies price prediction: Bitcoin, Ripple & Ethereum - European Wrap - 29 October
|Bitcoin (BTC)'s rally has little to do with China developments - Expert opinion
Bitcoin (BTC) has entered a consolidation phase after wild gyrations of the previous week. At the time of writing, BTC/USD is changing hands at $9,334, mostly unchanged both on a day-to-day basis and since the beginning of Tuesday. A failed attempt to break above SMA5100 (Simple Moving Average) daily tamed down bitcoin bulls and allowed traders to take a breath.
Ripple price prediction: XRP/USD slips back inside the range – Confluence Detector
Ripple’s XRP is changing hands at $0.2974, mostly unchanged both on a day-to-day basis and since the beginning of Tuesday. The third digital asset with the market value of $12.8 billion failed to hold the ground above critical Resistance of $0.30 and retreated to the previous range.
Ripple’s XRP confluence levels
Looking technically, the recovery is capped by $0.30. This barrier is strengthened by the upper line of the daily Bollinger Band. XRP bulls will have to clear this hurdle to neutralise sellers and create favorable conditions for the recovery. Let’s have a closer look at the technical levels that may serve as resistance and support areas for the coin.
Ethereum price analysis: ETH/USD bounces off $180 support, where to next?
Ethereum is taking advantage of the general bullish trend across the market to push correction above the short-term support at $180. The price stepped above the 50 Simple Moving Average (SMA) on the one-hour chart to trade at $186.56 (current market level).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.