fxs_header_sponsor_anchor

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Bakkt by Constantinople, cryptos eye higher levels - Confluence Detector

  • Cryptocurrencies are looking better with Ethereum leading the charge.
  • Bakkt, a futures exchange set to launch, raised money from Microsoft and others.
  • Here are the levels to watch according to the Confluence Detector, our proprietary tool.

Cryptocurrencies kick off 2019 with Ethereum extending its gains. The Constantinople upgrade for Ether as brought investors and speculators to piling into Vitalik's Buterin's brainchild. Other digital coins are also lifting their heads after a few down days.

More importantly for Bitcoin and the broader blockchain world, Bakkt managed to raise a whopping $182.5 million from Microsoft, Pantera Capital, BCG, and others. Bakkt completed this funding round to become a trusted broker or gateway for institutional traders looking to jump into digital currencies. The ICE project also aims to facilitate the usage of BTC in cross-border money transfers. After several delays, the fundraising promises a launch that will come soon enough. Project leader Kelly Loeffler sees an active year in cryptos.  

Another mainstream development, a Bitcoin ETF, is still awaited and due by late February. The SEC is set to approve or disapprove the request by SolidX and Van Eck regarding such a financial instrument.

With this promising start to the year, what prices should we look at?

BTC/USD eyes $4,263

Bitcoin, the grandaddy of cryptocurrencies, is struggling in a range between $3,806 and $3,845. The area is a dense cluster of technical levels including the Simple Moving Average 10-15m, the Fibonacci 61.8% one-month, the Fibonacci 23.6% one-day, the Bollinger Band 15 minutes Upper, the SMA 10-1h, the SMA 10-1d, the BB 15min-Middle, the SMA 5-1h, the Fibonacci 38.2% one-week, the SMA 5-15m, the BB 1h-Middle, the BB 15min-Lower, the SMA 5-1d, the Fibonacci 38.2% 1d, and the SMA 50-15m.

If it breaks higher, the next level to watch is $4,363 where we see the PP one-month Resistance 1, last month's high, the PP 1w-R1, and the SMA 50-1d. 

Looking down, $3,567 is significant support where we see the PP 1m-S1, the Fibonacci 38.2% one-month, and the PP 1d-S2.

ETH/USD has its eyes on $170 as a second target

Ethereum leads the crypto charts with its surge and continues moving higher. Notable resistance awaits at $162 which is the meeting point of last month's high and last week's high.

Higher, $170 is the confluence of the Pivot Point one-month R1 and the SMA 100-one-day.

Some support awaits at $142 which is the convergence of the Fibonacci 23.6% one-month, the Fibonacci 38.2% one-week, and the Fibonacci 23.6% one-day.

Lower, $139 is a crucial support line that includes the BB 4h-Middle, the SMA 5-one-day, and the SMA 100-1h.

XRP/USD looks at $0.3936

Ripple is currently struggling around $0.3740 which is a cluster including the SMA 5-1d, the previous daily high, the BB 15min-Middle, the SMA 5-1h, the SMA 5-15m, the SMA 10-15m, and the previous 4h-high.

Significant resistance awaits at $0.3936 which is the Fibonacci 61.8% one-month and the Pivot Point one-day Resistance 3.

A cushion awaits XRP/USD  at $0.3665 where we see the previous 4h low, the SMA 100-4h, the SMA 100-15m, and the SMA 100-1h.

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.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.