Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Bitcoin Resilience

Fibo Quantum

  • Bitcoin’s resistance to falling is extraordinary, the support is faith!
  • Ethereum also holds up well, even without the glamour of the Crypto King.
  • XRP can be the surprise of the weekend.

 

This week, the Top 2 fiat currencies have seen their theoretical value diluted following announcements by their respective governments or regulators of new expansive measures.

The U.S. Congress raises the spending ceiling for two years and opens the door to the issuance of $320 billion in debt. 

Mario Draghi made it clear yesterday that the ECB will continue to use unconventional measures and removes the 2% inflation target from its mandate.

Everywhere we see how Central Banks print huge amounts of banknotes. Emissions that, from a simple point of view, will dilute in equal proportion the value of already very questioned currencies. Cash as a store of value has a fragile structure.

The reason that justifies the value of Bitcoin at the moment is the same reason that keeps Dollars, Yen, or Euros in people’s pockets – faith.

Opponents of Mr. Nakamoto’s creation argue that there is nothing tangible behind it, beyond an algorithm that guarantees the transaction and the authenticity of Bitcoin itself. 

Bitcoin maximalists argue that the fiat currencies are backed only by people faith since Central Banks haven’t enough gold as a counterpart. 

 

ETH/BTC Daily Chart

 

The ETH/BTC is trading at 0.022 and holds the week’s gains. In short time frames, technical obstacles have appeared that will contain the price in this range in the next few hours.

In the short term, the change of direction in the price is consolidated.  

Above the current price, the first resistance level is at 0.0228 (price congestion resistance), then the second at 0.0252 (EMA50) and the third one at 0.0267 (double price congestion resistance).

Below the current price, the first level of support is at 0.020 (price congestion support), then the second at 0.015 (price congestion support). There is no third level of reliable support.

 

 

The MACD on the daily chart shows an upward cross profile with a proper inclination and increasing openness. Statistically, the price will tend to rise.

The DMI on the daily chart shows us how the bears continue to lead in the pair, while the bulls are getting closer and will probably face each other in the next few days. At the time of the meeting, the volatility will increase.

 

BTC/USD Daily Chart

 

The BTC/USD pair is trading at $9,761, trapped between the EMA50 above and full price support at $9,750. Bitcoin’s resistance to drops is impressive. 

The current situation suggests price weakness, but Bitcoin remains very close to relative highs and after two weeks of bearish scenario has only lost two levels of support. 

After an uptrend from $3,000 to $14,000 in just six months, what I see in Bitcoin can only be defined as impressive. 

Nobody wants to get off this train.

Above the current price, the first resistance level is at $10,150 (EMA50), then the second at $10,800 (price congestion resistance) and the third one at $11,280 (price congestion resistance).

Below the current price, the first level of support is at $9,750 (price congestion support), then the second at $9,150 (price congestion support) and the third one at $8,800 (price congestion support and SMA100).

 

BTC/USD Interactive Chart

 

The MACD on the daily chart shows how the bearish trend accelerates, although as I have said, the price seems to ignore it. It is possible that in the end it will suddenly give way and we will see one of the typical fast falls of Bitcoin.

The DMI on the daily chart shows the bears ahead but with a minimal advantage. Bulls increase their trend strength despite not dominating the asset. This point is another data that gives an idea of the underlying bullish force in the Bitcoin despite not being optimistic in the short term.

 

ETH/USD Daily Chart

 

The ETH/USD pair is currently trading at $215.8 and is beginning to solidify this level of support at an intermediate point between the SMA100 and the SMA200. 

The great moment for the Altcoins seems to have arrived, and the Ethereum is the leader of this group. This status should serve as extra support and be noticed in the price.

Above the current price, the first resistance level is at $225 (price congestion resistance), then the second at $235 (price congestion resistance and SMA100) and the third one at $250 (price congestion resistance and SMA200).

Below the current price, the first level of support is at $215 (price congestion support), then the second at $207 (price congestion support) and the third one at $200 (price congestion support).

 

ETH/USD Interactive Chart

 

The MACD on the daily chart shows a typical profile before a bullish cross. The most likely development is a first bearish rejection and a subsequent bullish cross, once the weaker hands are eliminated.

The DMI on the daily chart shows bears with a wide advantage over bulls. The buyer side of the market increases its level of trend strength but is still far from the seller side.

 

XRP/USD Daily Chart

XRP/USD is trading at $0.318 and is struggling to overcome the double price congestion resistance of $0.32

Above the current price, the first resistance level is at $0.329 (price congestion resistance), then the second at $0.334 (price congestion resistance) and the third one at $0.345 (SMA200 and price congestion resistance).

Below the current price the first level of support is $0.308 (price congestion support), then the second at $0.30 (price congestion support) and the third one at $0.295 (price congestion support).

 

XRP/USD Interactive Chart

 

The MACD on the daily chart shows a bullish cross profile at an early stage. The potential for bullish development is enormous, with the doubt remaining as to when it will occur, not whether it will.

The DMI on the daily chart shows bears leading but they are on a collision trajectory with bulls. This crossing process can take several days to complete.

 

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