Top 3 Price Prediction Bitcoin, Ethereum, XRP: Looking to bottom out after failing to conquer the skies

• Prices move in contractive triangles that may accelerate the arrival of key technical points.
• Bitcoin has more to lose than Ethereum in this scenario, giving contradictory signals.
• XRP’s potential big move can take longer than expected.

 

The three leading cryptocurrencies by market capitalization – not stable coins – are in evident decline. They have all reached the upper limits of triangular compression figures that are pushing them without remission towards relevant decision points.

The market sentiment background is positive, supported mainly by the proximity of the Bitcoin halving and the slow but progressive implementation of Ethereum 2.0 (PoS).

On Monday, the market was rising sharply with the excuse of the conflict in the Middle East, but since then, sellers have dominated the market.

Investors remain alert to the movement of the ETH/BTC pair.  

There is one scenario that we must keep in mind – the crypto market could give a bullish signal with the main pairs falling. BTC/USD is well above its relative lows, while Ethereum’s volatility is modest for the crypto world. If the dives to look for support or reconfirm levels, Bitcoin has much more to lose than the Ethereum.

 

ETH/BTC Daily Chart

ETH/BTC is currently trading at 0.0176 and plays with the support of the triangle shape with a ceiling on the long term downward trend line.

The stop level for long positions was extended two days ago and is now at 0.01694. The bullish confirmation is above the 0.018 level, although the proximity of the moving averages implies that if the price moves higher, it will be neither fast nor easy.

Above the current price, the first resistance level is at 0.018, then the second one awaits at 0.0187 and the third is at 0.020.

Below the current price, the first support level is at 0.0174, then the second at 0.01694 and the third one at 0.0155.

The MACD on the daily chart loses all of its openness but retains a slight upward slope. The time for a rebound is running out and should occur in the next few hours. 

The DMI on the daily chart shows that the bears are maintaining control despite the two positive days. Sellers are moving above the ADX line, so the active pattern is bearish. The bulls are improving a bit but are far from jeopardizing the supremacy of the sellers' side.

 

BTC/USD Daily Chart

BTC/USD is currently trading at $7,717 on its way to the EMA50 level below $7,600. Support for the triangle technical figure is far off at $7,100 while the first reliable stop level, in the daily range, is at $6,856. 

Bitcoin would enter full bullish mode above the triangle's ceiling at the $8,300 level and have a clear path to the $9,150 zone where the SMA200 is waiting.

Above the current price, the first resistance level is at $7,850, then the second at $8,000 and the third one at $8,200.

Below the current price, the first support level is at $7,600, then the second at $7,400 and the third one at $7,130.

The MACD on the daily chart is entirely on the bullish channel. The MACD on the daily chart enters this channel of the indicator. If the MACD misses the upward sloping trend line, the signal is likely to be bearish.

The DMI on the daily chart shows bulls with a significant advantage over the bears and well above the ADX line. Both confirm the strong upward positioning of BTC/USD. The bears are improving their trend force a bit but far from jeopardizing the bulls' privileged position.

ETH/USD Daily Chart

ETH/USD is currently trading at $136 after failing to break the EMA50 at $140. The closest stop is $125, while confirmation of a fully bullish scenario is above $160.

A break above this price would make it easy to reach $185. The first resistance level is at $142.5, then the second at $150 and the third one at $155.

The first support level is at $134.5, then the second at $130 and the third one at $127.5.

The MACD on the daily chart shows how the moving averages flatten out and begin to spread out when the indicator reaches the neutral level. This setup is a sign of a lack of upward momentum – in contrast to the situation we have seen in the Bitcoin.

The DMI on the daily chart shows how the bulls are also having trouble breaking the ADX line, although they still intend to do so. The bears are still lurking and could fight for the lead of the indicator without difficulty.

XRP/USD Daily Chart

XRP/USD is currently trading at $0.2017 after four days of sales. The XRP reached the top of the triangle and seemed to be heading straight for the bottom. The reliable stop level is at $0.1846, while the bullish signal is above $0.2260.

Above the current price, the first resistance level is at $0.213, then the second at $0.217 and the third one at $0.221.

Below the current price, the first support level is at $0.19, then the second at $0.1846 and the third one at $0.183.

The MACD on the daily chart is in a similar position as ETH/USD. Once it reaches the neutral zone, weakness appears on the buying side. 

The DMI on the daily chart shows that bulls are losing strength as smoothly as bears are gaining strength. They are heading for a collision between the two sides of the market, which will bring about price volatility.

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