Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Cryptos stage a Sunday surge, levels to watch – Confluence Detector


  • Cryptocurrencies have enjoyed a massive comeback early on Sunday, recovering most losses.
  • The cleanup seen ahead of the weekend may be over, and it is time to look up to higher levels.
  • Here are the levels to watch according to the Confluence Detector.

After surging in the previous weekend, cryptocurrencies held up their gains throughout most of the week but then suffered a sudden sell-off late in the week. Some had suggested that a massive sale on Bitstamp, worth $250 million worth in Bitcoin led to liquidation on BitMex.

There is additional speculation related to the fall of BTC/USD from above $8,000 to below $7,000, but in any case, cryptos are staging a comeback. The top trio is back up, rising around 10%. Apart from just correcting the sharp selloff, digital coins also enjoy Facebook's registration of a new financial tech company in Switzerland, the broadening of Coinbase's services to over countries, and warming of some regulators to blockchain technology. 

What levels should we watch?

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

Bitcoin Etehreum Ripple technical confluence May 19 2019

BTC/USD pierced resistance, now turned support

Bitcoin, the granddaddy of digital assets, is now trading close to $8,000 and battling $7,950, which is the convergence of the previous 1h-low, the Fibonacci 23.6% one-week, the Bollinger Band 15min-Middle, the Simple Moving Average 10-15m, the SMA 5-15m among others.

If it runs higher, the next level to watch is the $8,388 region, where the previous weekly high meets the Pivot Point one-week Resistance 1.

BTC/USD has overcome several significant levels and these levels now turn into support. The first cushion awaits at $7,700 where the Fibonacci 161.8% one-day, the Fibonacci 38.2% one-week, the SMA 10-1h, the PP 1d-R3, and the SMA 5-1d all meet. 

Further down, $7,520 is a dense cluster of lines including the PP 1m-R3, the BB 1h-Middle, the SMA 200-1h, the SMA 50-4h, and the BB 4h-Middle among quite a few other levels.

ETH/USD eyes $281

Ethereum, the second cryptocurrency in terms of market capitalization, is battling $255 which is a juncture including the BB 1d-Upper, the SMA 5-15m, the PP 1d-R2, the BB 15min-Upper, and the BB 1h-Upper.

Initial resistance to Vitalik Buterin's brainchild awaits at $260 where the previous 4h-high and the Fibonacci 161.8% one-day converge. 

The upside target is $281, the previous weekly high. 

ETH/USD enjoys support at $242 which is the confluence of the SMA 10-4h, the BB 1h-Middle, the SMA 5-1d, the Fibonacci 161.8% one-day, and the Fibonacci 38.2% one-week. 

Further down, $237 is another considerable support line where we see the Fibonacci 23.6% one-day and the Pivot Point one-month R3 meet.

XRP/USD holding above $40

Ripple, is battling $0.41 after the recent rise. It is c cluster including the BB 15min-Upper, the SMA5-1d, and the PP 1d-R1.

Looking up, resistance awaits at $0.4250 which is the convergence of the PP 1m-R2, the PP 1d-R2, and the BB 1d-Upper. 

Next up, $0.4310 is where we find the Fibonacci 23.6% one-week. From there onwards, it may run far higher.

XRP/USD enjoys some support at $0.3970 where we see the confluence of the SMA 5-1h, the BB 15min-Middle, the previous daily high, and the BB 4h-Middle.

Further support awaits at $0.37 where the potent Fibonacci 61.8% one-week meets the Pivot Point one-month Resistance 1.


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