Monday, March 1

Bitcoin, Ethereum & Ripple Price Analysis; Bearish Momentum Creeps Into Top 3 Ranked Coins – Is The Entire Market Declining Now?

Secret Highlights

Bitcoin visited 5.57% this week as the coin reached $11,500.
Ethereum saw a 8.8% price decrease this week as it reached $390 today.
XRP stopped by 9% over the previous week as it reached the $0.28 level.

BITCOIN PRICE ANALYSIS

What has been going on?

As August advanced, we can see that Bitcoin was trading within an increasing rate channel. The coin continued to trade within this price channel as it reached the August high of $12,471 as it reached the resistance at a 1.414 Fib Extension level.

From there, Bitcoin rolled over and began to head lower. It broke below the rising cost channel at the end of recently however discovered support at a parallel pattern line. Bitcoin traded above this pattern line over the previous 3-days but broke underneath here today as it crashed beneath the $11,600 assistance (.236 Fib Retracement) to reach $11,500.

Taking a look at the daily chart above, we can see that Bitcoin had penetrated above an in proportion triangle toward completion of July as it surged above the $9,200 level. The coin continued higher to reach the $11,800 level in August.

BTC price short term prediction: NEUTRAL

If the sellers continue to drive Bitcoin underneath $11,000, support is then anticipated at $10,800, $10,645 (.5 Fib Retracement), $10,400, and $10,200 (.618 Fib Retracement & & 100-days EMA).

If the sellers continue to drive Bitcoin beneath $11,500, the first level of assistance lies at $11,368 (disadvantage 1.272 Fib Extension). This is followed by included assistance at $11,244 (disadvantage 1.414 Fib Extension) and $11,080 (.382 Fib Retracement).

The break beneath the rising trend line has actually turned Bitcoin into a neutral trading condition in the short-term. The coin would now have to break above $12,000 to turn bullish once again. A break below $11,000 is most likely to turn Bitcoin bearish.

Where is the resistance toward the benefit?

On the other side, if the purchasers regroup and press higher, the very first level of resistance lies at $11,600. This is followed by resistance at $11,800, $12,000, $12,126 (1.272 Fib Extension), and $12,471 (1.414 Fib Extension).

What are the technical indications showing?

The RSI has actually also dropped beneath the mid-line to show the sellers are in control of the market momentum. Luckily, the Stochastic RSI is oversold and is primed for a bullish crossover signal which must put an end to the sag.

ETHEREUM PRICE ANALYSIS

What has been going on?

Taking a look at ETH/USD above, we can see that the coin surged to a 2-year high throughout mid-August 2020 as the coin reached $438 (August 2018 High). From there, Etheruem began to roll over as it headed lower over these previous 2-weeks.

The coin preliminary found support around $410 however eventually went on to press underneath here as it headed lower to reach $390. It bounced from this support the other day to break above $400 but stopped working to pass $408. Ethereum has actually because headed back underneath $400 to trade at $391 once again.

ETH cost short term prediction: BULLISH

Etheruem still stays bullish at this time. The coin would have to break beneath $360 to turn neutral and further beneath $310 to turn bearish.

The first level of support lies at $390 if the sellers push lower. This is followed by included support at $380, $361 (.382 Fib Retracement), $335 (.5 Fib Retracement), and $310 (.618 Fib Retracement).

Where is the resistance towards the upside?

On the other side, the very first level of resistance lies at $400. This is followed by resistance at $420 and $438. Above $438, resistance can be anticipated at $460 (bearish.5 Fib Retracement) $474 (1.414 Fib Exnteison), $490, and $500.

What are the technical signs showing?

The RSI has dipped beneath the 50 line as the sellers take charge of the market momentum.

RIPPLE PRICE ANALYSIS

What has been going on?

It was unable to overcome this resistance after many attempts to break above it. We can see that strong assistance has actually been discovered at the $0.28 level.

XRP price short-term forecast: BULLISH

XRP is bullish today however the resistance at $0.317 will need to be broken relatively quickly. The coin would need to fall underneath $0.27 to turn more and neutral below $0.24 to turn bearish.

The first level of support is expected at $0.28 if the sellers do press lower. This is followed by added assistance at $0.27 (.382 Fib Retracement), $0.26, and $0.25 (.5 Fib Retracement). Below this, included support is then expected at $0.24 (100-day EMA), $0.23 (.618 Fib Retacement & & 200-days EMA), and $0.218.

Where is the resistance towards the benefit?

If the bulls can break $0.35, resistance then lies at $0.361, $0.367 (1.272 Fib Extension), and $0.378.

On the other side, if the buyers push greater, the first level of strong resistance lies at $0.3. This is followed by included resistance at $0.317 (bearish.886 Fib Retracement), $0.337, and $0.35.

What are the technical indications showing?

The RSI has actually also permeated underneath the mid-line her which suggests that the bears are in charge of the marketplace momentum. If the RSI continues to drop, the bearish pressure will increase and is likely to trigger Ripple to drop beneath the existing $0.28 assistance and head lower.

Bitcoin traded above this trend line over the past 3-days but broke underneath here today as it crashed below the $11,600 assistance (.236 Fib Retracement) to reach $11,500.

If the sellers do press lower, the first level of support is anticipated at $0.28. This is followed by included support at $0.27 (.382 Fib Retracement), $0.26, and $0.25 (.5 Fib Retracement).

Andrew is a writer that does the majority of his work on cryptocurrency-related subjects. While hes mainly interested in Bitcoin, he also follows major altcoins and the innovative ideas that new cryptocurrency and blockchain tasks are giving the table.

Above $438, resistance can be expected at $460 (bearish.5 Fib Retracement) $474 (1.414 Fib Exnteison), $490, and $500.

We can see that strong support has been found at the $0.28 level.

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