Bitcoin, Ethereum and Ripple prices forecast: will we see bulls in the next few days?
The cryptocurrency market currently does not show any special fluctuations, the time range, where the possible changes are most obvious, is 12 hours. Next, we consider in detail each of the top cryptocurrencies.
BTC / USD 720-Min
At the moment, the price of Bitcoin is $ 6,348, which is just below the exponential moving average (EMA50). Slightly higher, at a price level of $ 6,450, the SMA100 acts as a desirable level for the bulls to try to take control of the situation.
The goal for Bitcoin is to return above SMA200, which is approximately at the level of $ 6,650.
But it is likely that the bears will be able to maintain control, as well as reduce the price to the level of $ 6,200, and further to the level of $ 6,058.
MACD at 720-Min – the indicator profile shows us how the speed line is going to go up, as well as how it is still below the zero line. There is a possibility that a bullish impulse may be rejected at the very first moment.
DMI at 720-Min – gives us good information that some bulls take control, but this is not accompanied by ADX. It is necessary that this indicator should accompany buyers to strengthen premature movement.
ETH / USD 720-Min
Now ETH / USD is trading at a price of $ 199.06. In the case of Ethereum, the first upward level is the EMA50 priced at $ 205, and the next one is the SMA100 priced at $ 214. Both levels are very important, because their gain will strengthen the bullish momentum.
The SMA200 is far from the price level of $ 265. Before reaching this key moving average, ETH / USD will have to overcome resistance at $ 223. From this level there are no obstacles to SMA200, so it is likely that the growth trend will accelerate from there.
If the bears do not allow this upward movement, the price will fall to the support level of $ 195, followed by an even lower level of $ 169. Below this price, the fall in ETH / USD will accelerate and may fall below the one hundred dollar mark.
The 720-Min MACD is slightly crossed, and also has a large distance to the zero level of the indicator, which causes a lot of doubt about the growth potential of ETH / USD.
DMI at 720-Min – shows some advantage of the bulls in the battle with the bears, but does not guarantee their victory.
XRP / USD 720-Min
Currently, XRP / USD is trading at a price of $ 0.4579. The situation with Ripple is much more positive and closer to a bullish trend than Bitcoin and Ethereum.
XRP / USD is slightly above the EMA50 of $ 0.4576, but also slightly below the SMA100 – $ 0.4601. In the case of Ripple, the level of SMA200 is already passed.
The key level to overcome in order to see new highs is $ 0.60 (upper part of the downward channel).
If the bulls fail, then for Ripple there is a first target on the SMA200, below which the support level is $ 0.359.
MACD at 720-Min – shows a profile similar to Bitcoin and Ethereum. It is also cut below the zero line. But in this case, the distance to this line is minimal (-0.0021).
DMI at 720-Min – shows us that the bulls are in control, and the bears are retreating. The ADX seems to follow the bulls, but it’s still premature to take it for granted.
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