Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Constantinople chronicles
|- Now everything revolves around Constantinople, the next Ethereum fork.
- Bitcoin will have its chance when Ethereum capitalizes its profits.
- Ripple is offside and must wait for his moment.
Constantinople is the buzzword and the engine that is pushing the Ethereum price to earn more than 80% in three weeks. The news flow around it is incessant. Today, Binance announces that it will support the fork and will receive proposals from other projects.
Ethereum, which exercised the Ottoman army in its advances towards the old city of Constantinople in 1453 A.D. (according to the Julian calendar), keeps its Top 3 companions in a defensive situation.
"The Conquest of Constantinople."
Bitcoin continues to get stuck in the resistance area around the $3,920 price level, still far from its primary target for the current movement which is in the $5,000 range. It is more than logical that this is so. In recent weeks it has been extremely profitable to move Bitcoins into Ethereum, with a relative gain over 50%. The time for Bitcoin will come when all these benefits materialize in the form of a massive return to the King's territory.
For its part, the Ripple seems to have lost the compass that unfailingly guided it to the North. Its behavior is relatively worse than that of Bitcoin and above all that of Ethereum. It seems to be waiting to receive its share from the leftover spoils of the disbanded Ethers towards Bitcoin.
Do you want to know more about my technical setup?
BTC/USD Daily Chart
BTC/USD is currently trading in the daily range at the $3,833 price level, a hundred dollars below the wall that has held it since late 2018. The absence of bullish strength is not translating into increased interest from the bears, nor have the bulls moved backward. It is a situation of tactical equilibrium waiting for the time to act.
Above the current price, the first resistance level is at $3,920 (price congestion resistance). The next resistance level is at $4,178 (EMA50). Conquering this second level would allow Bitcoin to move between moving averages and gain prominence on the Crypto board. The third resistance level is at $4,400 (price congestion resistance) would serve as a confirmation that the Bitcoin moment has arrived.
Below the current price, there is no room for jokes. The first level of support is at $3,600 (congestion price support), it is the short-term cushion that may not be as solid as it should be. The second level of support is vital, is at $3,200 (price congestion support and relative minimum level). If the BTC/USD loses this level of support, a drop below $2,000 cannot be ruled out.
The MACD in the daily range shows a typical structure of waiting moments. It is inclined upwards and with some opening between lines, but below the zero lines. Most likely, this structure in the BTC/USD will not change until the market solves the Constantinople issue.
The DMI in the daily range supports the idea left by the MACD. The bulls and bears are tied for another day. Both sides of the market remain above the 20 lines, like soccer players looking for the moment to break the offside. When the time comes, one of the two sides will come out willing to give victory to their team.
ETH/USD Daily Chart
The ETH/USD is currently trading at the $151.55 price level after yesterday's relative high of $160. The ETH/USD pair is ahead of the gap left by the November 19 bearish hole. This technical event is a significant hurdle, as both the $155 and $170 lows are strong resistances.
Above the current price, the first resistance is at the $155 price level (price congestion resistance). The second resistance level is at the price level of $170 (price congestion resistance and SMA100) and the gateway to a much more favorable zone for price increases. The third resistance level is at $180 (price congestion resistance).
Below the current price, the first support level is at $124 (price congestion support). The second support level is at $109 (price congestion support). The third level of support is at $95 (price congestion support) and would be the last chance to see a new relative minimum.
The MACD in the daily range has a very bullish profile. It maintains a good inclination and openness between lines, so it still has a bullish run ahead of it. Despite this potential, it is likely to remain at these levels for a couple of days to regulate the excesses of previous days.
The DMI in the daily range shows us the bulls with control of the situation. It weakens them to move below the ADX line. If the bulls can walk above it, the price can go flying towards the Moon. The bears, on the other hand, continue to decrease to activity and do not see any downward potential in the short term.
XRP/USD Daily Chart
XRP/USD is currently trading at the $0.36 price level, just below the $0.37 resistance level. The XRP/USD pair tried in the previous weeks to reach the next resistance level at $0.415, failed and is now paying for the effort and the signal of weakness that the failure sent to the market.
Above the current price, the first resistance level is at the line already quoted at $0.37 (price congestion resistance). The second resistance level is at $0.412 (price congestion resistance). The third resistance level is at $0.425 (price congestion resistance and upper trendline of the bearish channel). As we can see, this third level is critical for the medium and long-term.
Below the current price, the first support level is $0.344 (price congestion support). The second support level is $0.32 (price congestion support). The third support level is $0.297 (price congestion support).
The MACD in the daily range shows a very flat profile with hardly any line spacing. The positive note is that it moves above the zero lines of the indicator. This type of structure consumes much time in its resolution.
The DMI in daily range shows the bulls with the control of the situation but without much advantage in front of some bears that little by little are increasing their positions. In a few days, both sides of the market will tie, and price volatility may appear.
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