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Top 3 Price Prediction Bitcoin, Ripple, Ethereum: No KO For Bitcoin, Get Up And Fight!

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Top 3 Price Prediction Bitcoin, Ripple, Ethereum: No KO For Bitcoin, Get Up And Fight!
  • A record low market certifies the vitality of Bitcoin.
  • The technical situation is a little more extreme as markets are in search of a break.
  • Everything is possible, but the path of least resistance is up.

Here is a piece of news has caught my attention in this first week of the month of February. It's 58 weeks of a bear market for Bitcoin, being the absolute record in more than ten years of history since Satoshi Nakamoto mined the first block.

Let's put this into perspective. A bear market lasting more than 58 weeks is a devastating scenario for any asset, and in the case of an asset as volatile and exposed to multiple external shocks like Bitcoin, it should be terminal.

However, Bitcoin is still alive. It is true that it has lost approximately 80% of its value, but $3,400 is not a bad price for something that everyone outside the crypto ecosystem despises. If the fate of Bitcoin is to disappear, it is admirably resisting.

The ETH/BTC pair remains stuck at the support level of 0.031, the current bearish limit and signaling the limit point of which, if broken down, will cause a widespread bearish movement in the market.

1eth_btc_20-636849616615581494.png

BTC/USD 240 Minute Chart

The BTC/USD pair is currently trading at the $3.416 price level, increasingly compressed by the presence of the 50-period exponential moving average or EMA50. This moving average is the main obstacle for Bitcoin in its bullish aspirations.

Above the current price, the first resistance is a range that extends between the level of $3,439 (EMA50) and the level of $3,489 (SMA100), leaving in the middle of both moving averages a congestion resistance of the price at $3,460. If Bitcoin manages to overcome this level, the technical situation will improve quite a bit. The second resistance level is $3,600 (price congestion resistance), a level also reinforced by the presence of the SMA200 at the $3,619 price level. The third resistance level is at $3,700 (price congestion resistance) and already in an area where the BTC/USD pair would enter a bullish scenario in the short term.

Below the current price, the first support level is the most important one. It is at the $3,400 price level (price congestion support). Below this level, we could take a visit to the next support level at $3,300 (price congestion support) for granted. The third level of support is at $3,240 (price congestion support).

btc_usd_70-636849617234972645.png

The MACD on the 4-hour chart continues to move below the indicator's zero levels. Today, it shows a minimum bullish profile with no openings between the lines. It is a fragile structure and does not give any information.

The DMI on the 4-hour chart today shows absolute equality between the two sides of the market. Both move slightly above level 20, so the market side that takes the initiative first can quickly gain strength.

ETH/USD 240 Minute Chart

The ETH/USD is currently trading at the $107.2 price level, with slight gains from yesterday's close. As in the case of Bitcoin, the structure is compressed by the ever closer presence of moving averages.

The first resistance level for the ETH/USD pair is between $108.6 (EMA50) and $115 (price congestion resistance), leaving between both points a price congestion resistance of $109.5 and also the SMA100 at $112. Above this important resistance zone, the ETH/USD would not find much opposition up to the price level of $124.5 (SMA200). Finally, at $130.5, there is a price congestion resistance that would signal the entry into a medium-term bullish scenario.

Below the current price, the first support is at $105 (price congestion support). The second support level is at $97.5 (price congestion support). As the third level of support, there is price congestion support at $85.

eth_usd_58-636849617633420454.png

The MACD on the 4-hour chart shows an utterly flat profile and slightly below the indicator's zero levels. It is a very fragile structure and does not provide information.

The DMI on the 4-hour chart shows us how bears have a slight advantage over bulls, both moving above indicator level 20. It is a tense equilibrium situation that when broken can bring a rapid increase in volatility.

XRP/USD 240 Minute Chart

The pair is currently trading at the $0.298 price level, after leaving the minimum of the last four candles at the $0.29 price congestion support level.

The first resistance level comprises a zone that starts at $0.305 (EMA50), continues at $0.308 (price congestion resistance) and ends at $0.3102 with the SMA100. The second resistance level is at $0.32 (price congestion resistance), with the third level indicating the SMA200 at the $0.327 price level.

Below the current price, the first support level is $0.29 (price congestion support). The second support level is at $0.282 (price congestion support), while the third support level is far below the $0.267 price level.

xrp_usd_61-636849617960460072.png

The MACD on the 4-hour chart shows a significant bearish slope with a slight opening between the lines. At this time in the morning, it appears that the lines are heading for a bullish cut, but there is no confirmation.

The DMI on the 4-hour chart shows bears leading the moment by being above the bulls and also above the 20 lines of the indicator. The bulls, on the other hand, do not make it past this level and show weakness.

Posted-In: Bitcoin cryptocurrencies EthereumCryptocurrency Earnings News Markets General

 

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