Cryptocurrencies price prediction: Bitcoin, Ripple & Ethereum - 12 August
Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Cryptos at critical levels after Altcoins' bullish catching up – Confluence Detector
Weekends are never boring in crypto-trading – but this one has been different. Ethereum, Ripple, Litecoin, and other Altcoins have been standing out with gains while Bitcoin retreated. This catching-up process was long-awaited and provides hope for cryptocurrency bulls. Bitcoin's bullish run seemed unsustainable while Altcoins were stagnating or losing ground.
BTC/USD needs to cross $11,640
Bitcoin is currently battling the $11,404 area where we note a dense cluster including the Simple Moving Average 10-15m, the SMA 5-15m, the Bollinger Band 5-15m, the SMA 5-1h, the BB 15min-Upper, the SMA 200-15m, the SMA 10-1h, and the Fibonacci 38.2% one-day.
Ripple market update: XRP/USD struggling to hold onto the 23.6% Fibo
Ripple is trending slightly higher from the lows recorded last week around $0.2895. Bearish pressure swept in on failure to sustain gains above $0.33 resistance. The break below the moving averages massively propelled Ripple below the 61.8% Fibonacci retracement level taken between the last swing high of $0.3310 to a swing low of $0.2895.
Ethereum price analysis: ETH/USD trading above the descending channel
Ethereum is battling with rising selling pressure on Monday. The entire cryptocurrency market is sliding slightly lower than the recent weekly close. An impressive recovery from the primary support at $200 scaled the levels above the 50 Simple Moving Average 1-hour chart.
A break above the descending channel resistance pushed the price higher. Ethereum stepped above the 100 SMA 1-hour as well as the hurdle at $215. Unfortunately, the price hit pause on forming a high at $216.90.
Author
FXStreet Team
FXStreet
