Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Market distrustful of Bitcoin's passivity

• BTC/USD points to falls without having enjoyed previous rises, putting future rises in peril.
• ETH/USD tests previous uploads and enters key technical days.
• XRP/USD has had the luxury of straddling the fence and come closer technically to BTC/USD.

 

After a week of price recovery across the Crypto board, especially among the Altcoins, the seven days ahead point to new price declines.

Apparently, the drop does not have to lead us to see new lows among the main digital coins, but it cannot be ruled out since the medium-term analysis of some Altcoins shows more potential for bears than for bulls.

To highlight the technical situation of Ethereum, which after rising 30% in the last sessions reached the price level of $220 and in turn, the base for the base channel that it lost at the beginning of September. This point may be the most technically significant of all the board. This is a crucial point of reference that will set the tone in the next sessions. A bullish break would be interpreted as a strong momentum signal.

For its part, Bitcoin continues in the lateral range that governs it since September 6th. It is very probable that it will be in range until the decision of the U.S. regulatory authorities, scheduled for the end of this month, is made public. The sense in which the decision is taken, the amount of ETF’s approved, and especially the arguments that justify the decision will surely mark the coming quarters.

 

BTC/USD 240-Min.

The BTC/USD is currently trading at the price level of $6.475. The tone in which the week starts is slightly bearish, which is normal after the recent rises. However, as Bitcoin did not reach new relative highs, it will be penalized against the main Altcoins.

Above the current price, the first resistance is at $6.560 (price congestion resistance). The next resistance level is at $6.640 (SMA100 and SMA200) and it is a major challenge as it is stuck at the current consolidation level and could consume a lot of capital to overcome it. Above this complicated hurdle, the price could pick up speed and quickly reach the next resistance at $6,760 (price congestion resistance).

Below the current price, the first immediate support is at $6.474 (EMA50). Losing this level would accelerate the bearish momentum. If so, the next support is directly at the base of the range at $6,200 (price congestion support). It is very possible that the drop will have an extension movement to the relative minimum level of $6,118.

The MACD at 240-MIN is crossed down after entering positive territory. The slope of the lines is very low, so it doesn't look like the downturns are going to be very strong. The closeness of the indicator's 0 line as a support may help make this so.

The DMI at 240-MIN is much more telling. The bears take control while the bulls continue with a very horizontal profile just at level 20 of the indicator. The ADX, on the other hand, is also maintained at level 20 which indicates the existence of tendential force although only just. We can extract from this, that the dominant side is that of the bears but that the side of the bulls can reverse the situation with some ease.

ETH/USD 240-Min

The ETH/USD is currently quoted at the $215.8 price level. The technical situation is similar to that of Bitcoin for the next sessions. However, it is very different from the last sessions. The ETH/USD has made a bullish effort getting out of the zone of minimums and revaluing itself by 30%.

Above the current price, the first resistance is at the price level of $222 (price congestion resistance). Exceeding this level would open the door for the ETH/USD to a big price jump to the next support level at $270. Between the two levels, two strong obstacles at $230 (SMA100) first, and $258 (SMA200) later. As in the case of the BTC/USD, this scenario is going to require enough capital to be overcome.

Below the current price, the ETH/USD also has a close first support at the 50-period exponential average, which goes through the $213 price level. Below this moving average, the next support is at $195 (price congestion support). Below this last level, ETH/USD would enter dangerous territory with another key level at $167 (annual lows). If the panic returns, the price could slide to the next support at $155 (price congestion support).

The MACD at 240-MIN also shows a profile similar to that of the BTC/USD, although more accentuated due to the bullish price movement that generates more curvature in the indicator. It is crossed down and has room to reach the 0 level of the indicator, always in a positive zone. Therefore, we could see soft price decreases.

The DMI to 240-MIN shows us that the bulls still with an advantage but already scarce. In the last 8 hours, the bears have read the stage perfectly and appear looking for low profitability. Both groups will surely meet already in the American session and we will be able to have more clarity. The ADX indicates us the existence of tendential force although diminishing.

XRP/USD 240-Min

The XRP/USD is currently trading at the $0.270 price level. Like all Altcoins, Ripple has seen significant price hikes in the last few sessions but without reaching the ETH/USD levels.

Above the current price, the first resistance is at $0.279 (EMA50), immediately followed by the next resistance at $0.283 (price congestion resistance). Above this level, the distances between resistances widen. The next resistance level is at $0.294 (SMA100) and immediately thereafter at $0.297 (price congestion resistance). The main bullish target is to exceed the SMA200 at the $0.31 level.

Below the current price, the first support is at the $0.270 price level (price congestion support). The next support is at $0.255 (price congestion support and relative minimum). As a third possible target level, support at $0.24 (price congestion support).

The MACD at 240-MIN shows a profile identical to that of the BTC/USD. This is a horizontal pattern, slightly cut downwards and very close to the 0 line on the positive side.

The DMI to 240-MIN shows a totally different profile. There is an absolute tie between bulls and bears, the latter coming from below so they are more likely to put themselves above the bulls. The ADX continues to sink and indicates the absence of any trend force. Uncertainty prevails.

 

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