Top 3 Price Predictions: Bitcoin targets $8,161, Ethereum $648, Ripple $0.6925 if they break technical resistance – Confluence Detector


  • Bitcoin, Ethereum, and Ripple face interesting resistance lines on the upside.
  • Cryptocurrencies look bullish after bottoming out in recent weeks.
  • The Confluence Detector shows clusters of technical levels according to their importance.

BTC/USD $7,735, then $8,161

The price of Bitcoin faces a challenge at $7,735 which is the convergence of the Simple Moving Average 100'15m, the Fibonacci 38.2% one'day, the Simple Moving Average 100'4h, the Fibonacci 23.6% one'month, and the Pivot Point one'week Resistance 1. 

Upon a break of that line, the next significant line is $8,161 which is the Fibonacci 38.2% one-month. Further up, it is worth noting $8,332 which is the confluence of the Simple Moving Average 200-4h and the Pivot Point one-week Resistance 3. 

On the downside, BTC/USD has strong support at $7,479 which is the congestion of the Simple Moving Average 10-one-day, the SMA 200-1h, the SMA 50-4h, the Fibonacci 161.8% one-day, and the Fibonacci 23.6% one-week. It is closely followed by $7,394 which is the confluence of the Bolinger Band 1h-Lower, the Fibonacci 38.2% one-week. $7,053 is the meeting point of the one-month and one-week lows.

This is how it looks:

ETH/USD: $615, then $648

The Ethereum Price has advanced nicely and faces a challenge at $615, which is a congestion of the 1d-high, the Simple Moving Average 100-4h, the Pivot Point one-week Resistance 1, the SM 5-1h, the Fibonacci 38.2% one-day, the Bolinger Band 15m-Middle, and the SMA 100-1d.

Upon a break higher, ETH/USD targets $638 which is the confluence of the Fibonacci 161.8% one-week, the Pivot Point one-week Resistance 2, the Pivot Point one-day Resistance 2, and the Simple Moving Average 50-1d. A higher target would be $676 which is the meeting point of the SMA 200-4h, and the Pivot Point one-day R3.

On the downside, $597 is the convergence of the Bolinger Band one-hour Middle, the Pivot Point one-day S1, and the one-week high. It is closely followed by $577, which is the confluence of the SMA 10-one-day, the Pivot Point one-day S2, and the Fibonacci 23.6% one-month. Even lower, $560 is the confluence of the Pivot Point one-day Support 3, the Bolinger Band one-hour Lower, and the Fibonacci 61.8% one-week. 

Ethereum confluence technical levels June 4 2018

XRP/USD 

The price of Ripple is moving up and the XRP/USD faces resistance at 0.6740 which is the confluence of the SMA 200-15, the 1h-high, the Bolinger Band 1h-Middle, and the Fibonacci 38.2% one-day. This is a cap ahead of the 0.6925 target which is the convergence of the Fibonacci 38.2% one-month, the Bolinger Band 1h-Upper, and the Bolinger Band 1h-Upper. The next target is 0.7261 which is teh BB 1d-Upper and the Pivot Point one-day Resistance 2.

On the downside, some support awaits at 0.6520 which is the Pivot Point one-day S1, the 4h high, and the Pivot Point one-week Resistance 1. Further support awaits at 0.6370 which is the confluence of the SMA 100-1h and teh Fibonacci 23.6% one-month.

This is how it looks:

XRP/USD Ripple price confluence technical levels

The Confluence Detector finds exciting opportunities using Technical Confluences. The TC is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies.

This tool assigns a certain amount of “weight” to each indicator, and this “weight” can influence adjacents price levels. These weightings mean that one price level without any indicator or moving average but under the influence of two “strongly weighted” levels accumulate more resistance than their neighbors. In these cases, the tool signals resistance in apparently empty areas.

Learn more about Technical Confluence

More: Latest cryptocurrency news


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

Lukas Enzersdorfer-Konrad, Bitpanda deputy CEO: “Crypto needs Gary Gensler gone”

Lukas Enzersdorfer-Konrad, Bitpanda deputy CEO: “Crypto needs Gary Gensler gone”

Lukas Enzersdorfer-Konrad is the deputy CEO at Bitpanda, a broker based in Europe with more than five million users. At the European Blockchain Convention held in Barcelona, the executive shared with FXStreet his views on the current state of the crypto industry and its regulation.

More Cryptocurrencies News
Bitcoin still consolidates despite positive spot ETFs demand

Bitcoin still consolidates despite positive spot ETFs demand

Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.

More Bitcoin News
Why is ONDO’s price outlook bullish?

Why is ONDO’s price outlook bullish?

DefiLlama data shows that Ondo TVL reached a new ATH of $613.75 million. Ondo’s Supply Distribution metric shows whale accumulation. On-chain data shows that ONDO’s daily trading volume is rising, and the supply of exchanges is decreasing.

More Cryptocurrencies News
Maker price eyes a rally on technicals and on-chain metrics

Maker price eyes a rally on technicals and on-chain metrics

Maker trades above $1,500 on Thursday, suggesting a potential rally as technical indicators show bullish divergence. This positive outlook is reinforced by MKR’s Exchange Flow Balance, which shows a negative spike, indicating growing investor confidence in the platform.

More Cryptocurrencies News
Bitcoin: Fed-led rally could have legs towards $65,000

Bitcoin: Fed-led rally could have legs towards $65,000

Bitcoin is poised for a second consecutive week of gains, supported by the recent 50-basis-point cut in interest rates by the Federal Reserve. Bitcoin broke above several key technical resistances this week, signaling a rally continuation.

Read full analysis
Five best Forex brokers in 2024

Five best Forex brokers in 2024

VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals. 

Read More

BTC

ETH

XRP