Top 3 Price Prediction Bitcoin, Ripple, Ethereum: BTC to $50,000 or Gold to $5,000? Current crypto levels to watch


  • Peter Schiff, Tom Lee, and Anthony Pompliano tussle in the Gold vs. Bitcoin battle.
  • Current cryptocurrency prices are struggling with BTC slipping below $10,000.
  • Here are the next levels to watch according to the Confluence Detector.

"Gold will reach $5,000" claimed Peter Schiff, a crypto critic, and a gold bug. "Bitcoin will reach $50,000," said Tom Lee. Both influences clashed on social media and on television about future prices. Both assets are seen as safe havens and have risen of late, but these price targets seem far. XAU/USD is struggling with $1,500, while BTC/USD has dropped below $10,000.

The granddaddy of cryptocurrencies may have a dominance level of over 90% according to a new study by Arcane Research. The firm uses liquidity and other gauges to assess the balance between BTC and other digital coins such as Ethereum and Ripple. According to Coin Market Cap, Bitcoin is worth some 68% of all cryptocurrencies – the highest since April 2017.

FXStreet crypto analyst Tomas Salles has reiterated that meaningful bullish crypto markets were driven by Etehreum, not Bitcoin. Tomas will be back after his summer vacation. In the meantime, let us look at technical levels.

This is what the Crypto Confluence Detector shows in its latest update:

Bitcoin Ethereum Ripple August 22 2019 technical confluence

BTC/USD on the back foot

Bitcoin has dipped below $10,000 and more importantly, has lost $10,075. The line is the convergence of levels including the Simple Moving Average 100-15m, the previous 4h-high, the Fibonacci 23.6% one-month, the Fibonacci 23.6% one-day, and more.

If the king of cryptos overcomes this level, it faces resistance at $10,488, which is the meeting point of the Bollinger Band 4h-Middle and the SMA 5-one-day.

Further above, the upside target is $10,800, where the SMA 50-one-day and the Fibonacci 61.8% converge. 

Significant support awaits BTC/USD only at $9,090, where the previous monthly low hits the price.

ETH/USD has found its balance

Ethereum has almost equal levels of support and resistance. From its current levels, support awaits at $180, where we note the confluence of the Pivot Point one-day Support 1, the BB 1d-Lower, and the previous daily low.

Further down, considerable support awaits at $167.50, which is the convergence of the PP 1m-S1 and the PP 1w-S1.

Resistance awaits at $190.70, which is a juncture of lines including the Fibonacci 38.2% one-week, the SMA 501h, the SMA 200-15m, and the Fibonacci 61.8% one-day.

ETH/USD's upside target is $198, where the SMA 200-1d and the SMA 10-1d converge.

XRP/USD stuck in the mud

Ripple is struggling around $0.2648, which is a dense cluster consisting of the SMA 5-15m, the SMA 5-4h, the SMA 10-15m, the SMA 100-15m, the Fibonacci 38.2% one-day, the Fibonacci 38.2% one-week, the Fibonacci 23.6% one-day, the PP 1m-S1, and the BB 15min-Lower.

Looking up, noteworthy resistance awaits at $0.2757, which is the confluence of the SMA 5-1d, the previous daily high, and the SMA 100-1h. 

The upside target is $0.2839, where we see the PP 1d-R2 and the previous monthly low converge. 

XRP/USD has support at $0.2525, where the previous yearly low and the BB 1d-Lower meet up. 

See all the cryptocurrency technical levels.


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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Trump-inspired memecoin MAGA shows bullish on-chain metrics ahead of US elections

Trump-inspired memecoin MAGA shows bullish on-chain metrics ahead of US elections

MAGA trades slightly down to around $3.4 on Tuesday after rallying more than 20% since Sunday. The former President Donald Trump-based memecoin is poised for further gains as daily active addresses and network growth metrics rise, signaling increased network usage and adoption.

More Meme Coins News
Bitcoin ETFs beat Gold ETFs with 65% gain since launch

Bitcoin ETFs beat Gold ETFs with 65% gain since launch

Bitcoin ETFs have reshaped the digital asset investment landscape since their approval in January. Their total assets under management climbed over $70 billion during the weekend, placing them ahead of other investment products, including gold.

More Bitcoin News
XRP eyes 10% rally amid relisting across crypto exchanges and growing institutional demand

XRP eyes 10% rally amid relisting across crypto exchanges and growing institutional demand

Ripple's XRP is trading at $0.5050 up slightly by 0.2% in the past 24 hours as it struggles to sustain a move above a key symmetry triangle resistance. Meanwhile, in its recently released Q3 report, Ripple noted the rising listing and relisting of XRP across crypto exchanges and global platforms.

More Ripple News
Ethereum Price Forecast: ETH struggles below $2,500 amid State of Michigan pension fund investment in ETH ETF

Ethereum Price Forecast: ETH struggles below $2,500 amid State of Michigan pension fund investment in ETH ETF

Ethereum is trading near $2,420, down about 1% on Monday, but could bounce off a key descending trendline close to the $2,258 historically high demand zone. Meanwhile, the State of Michigan pension fund revealed an investment of $11 million in ETH exchange-traded funds.

More Ethereum News
Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP