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% this week as the coin reached $11,500.
Ethereum saw a 8.8% rate decrease this week as it reached $390 today.
XRP dropped by 9% over the past week as it reached the $0.28 level.

BITCOIN PRICE ANALYSIS

What has been going on?

Having a look at the everyday chart above, we can see that Bitcoin had actually permeated above an in proportion triangle toward the end of July as it surged above the $9,200 level. The coin continued greater to reach the $11,800 level in August.

As August progressed, we can see that Bitcoin was trading within an increasing cost 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 underneath the rising cost channel at the end of last week but discovered support at a parallel pattern line. Bitcoin traded above this pattern line over the past 3-days however broke below here today as it crashed beneath the $11,600 assistance (.236 Fib Retracement) to reach $11,500.

BTC rate 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).

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

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

Where is the resistance towards the upside?

On the other side, if the purchasers regroup and push 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 signs revealing?

The RSI has actually also dropped underneath the mid-line to suggest 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 downtrend.

ETHEREUM PRICE ANALYSIS

What has been going on?

The coin initial found support around $410 but ultimately went on to push below here as it headed lower to reach $390. It bounced from this support yesterday to break above $400 but stopped working to pass $408. Ethereum has actually because headed back underneath $400 to trade at $391 once again.

Looking 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 past 2-weeks.

ETH price short-term forecast: BULLISH

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

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

Where is the resistance towards the benefit?

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 expected at $460 (bearish.5 Fib Retracement) $474 (1.414 Fib Exnteison), $490, and $500.

What are the technical indications revealing?

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

RIPPLE PRICE ANALYSIS

What has been going on?

It was not able to overcome this resistance after various efforts to break above it. We can see that strong assistance has actually been discovered at the $0.28 level.

XRP price short-term prediction: BULLISH

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

XRP is bullish today but the resistance at $0.317 will need to be broken fairly quickly. The coin would need to fall beneath $0.27 to turn additional and neutral underneath $0.24 to turn bearish.

Where is the resistance toward the advantage?

On the other side, if the buyers push greater, the very 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.

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 indications revealing?

The RSI has actually also penetrated beneath the mid-line her which recommends that the bears supervise of the market momentum. If the RSI continues to drop, the bearish pressure will increase and is likely to trigger Ripple to drop underneath the current $0.28 support and head lower.

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

Andrew is an author that does most of his deal with cryptocurrency-related topics. While hes primarily thinking about Bitcoin, he likewise follows major altcoins and the innovative concepts that new cryptocurrency and blockchain jobs are giving the table.

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

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

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

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