Monday, March 1

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

Secret Emphasizes

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

BITCOIN PRICE ANALYSIS

What has been going on?

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

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

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

BTC cost brief term forecast: 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).

The very first level of support lies at $11,368 (downside 1.272 Fib Extension) if the sellers continue to drive Bitcoin below $11,500. This is followed by included support at $11,244 (downside 1.414 Fib Extension) and $11,080 (.382 Fib Retracement).

The break underneath the rising trend line has turned Bitcoin into a neutral trading condition in the short-term. The coin would now need 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 towards the upside?

On the other side, if the buyers regroup and press greater, 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 indicators showing?

The RSI has likewise dropped underneath the mid-line to suggest the sellers are in control of the marketplace momentum. Luckily, the Stochastic RSI is oversold and is primed for a bullish crossover signal which ought to put an end to the drop.

ETHEREUM PRICE ANALYSIS

What has been going on?

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

Looking at ETH/USD above, we can see that the coin rose to a 2-year high during mid-August 2020 as the coin reached $438 (August 2018 High). From there, Etheruem started to roll over as it headed lower over these past 2-weeks.

ETH rate short term prediction: BULLISH

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

If the sellers push lower, the first level of assistance lies at $390. This is followed by added 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 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 indications revealing?

Similarly, the RSI has actually dipped beneath the 50 line as the sellers take charge of the marketplace momentum.

RIPPLE PRICE ANALYSIS

What has been going on?

It was unable to conquer this resistance after many efforts to break above it. We can see that strong support has been found at the $0.28 level.

XRP price short term prediction: BULLISH

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

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

Where is the resistance towards the advantage?

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

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

What are the technical indicators showing?

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

We can see that strong assistance has been discovered at the $0.28 level.

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

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

Andrew is a writer that does the majority of his deal with cryptocurrency-related topics. While hes mostly thinking about Bitcoin, he also follows major altcoins and the ingenious ideas that brand-new cryptocurrency and blockchain projects are giving the table.

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

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