Top 3 Price Forecast – Bitcoin, Ethereum, Ripple: downward movements mask a change in leadership

November 9, 2018 Ethereum



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  • The outperformance of Ethereum of its peers is positive for the market.
  • Ripple shows strength and holds up well against the pessimism of the market.
  • Bitcoin pays dearly for its liabilities during the previous bullish moment.

The Crypto market continues to move down as a whole. This scenario of weakness will extend in the coming days.

If volatility does not increase, it is essential that falls are significant. However, you must be careful because if the speed of the price accelerates falls, they can get worse.

The ETH / USD chart in the weekly interval indicates that prices will tend to rise in the medium term. In the short term, some obstacles would technically lead to strong downward rejection movements. Moreover, according to this analysis, the turning point will occur in about two weeks.

ethbtc091118-636773583564812923_0.jpg "src =" https://cdn1.benzinga.com/files/u105576/ethbtc091118-636773583564812923_0.jpg "/></p> <p>As we will see in the detailed analysis, Ethereum is in a better position than Bitcoin to cope with falls.</p> <p>It is also interesting today to note that more and more countries are establishing specific taxes on Criptovaluta operations. The last case in France, which created a 30 percent rate. Taking this factor into account, the assessment that the turning point will occur in about two weeks is strengthened. </p> <p>Do you want to know more about my technical configuration?</p> <h3><strong>BTC / USD 240 minutes.</strong></h3> <p>At this time the BTC / USD is trading at the price level of <strong>$ 6.341</strong>, down 1.01 percent on the day.</p> <p>Below the current price, there is only one price level to consider. This level of support is a <strong>$ 6,300</strong>, where the level of price congestion meets an uptrend line compared to the October lows.</p> <p>If the BTC / USD breaks this support, all gains will be lost and we will enter a new medium-term bearish phase. As for the price target, it would be fixed<strong> $ 4,500</strong> as a reasonable goal. This situation would repeat the structure already given in 2014 which gave rise to a long-term uptrend.</p> <p>Above the current price, the first resistance in the area of ​​moving averages is a <strong>$ 6,400</strong>. The second price zone to be conquered is<strong> $ 6,550</strong> this would open up a new upside scenario with a higher price target <strong>$ 6,900</strong>.</p> <p><img alt=

The 240-minute MACD continues to cross but above the zero line. This situation provides some upside support, but we can not rule out a breakdown.

The 240-minute DMI shows us how bears are above the bulls, which are losing a lot of momentum. Both sides are under the ADX line, a situation favorable to violent changes of direction.

ETH / USD 240 minutes.

ETH / USD is currently trading at $ 209.8 price level, down 0.62% from yesterday's close.

Below the current price level, ETH / USD has all moving averages as support lines and with a certain distance between them. This situation is the big difference from the BTC / USD situation. The first support is a $ 209.4 (EMA50). The second level of support is $ 206.4 (SMA200 and support for price congestion). The third level of support a $ 204.23 (SMA100).

Above the current price, the first resistance is a $ 215 (resistance to price congestion). The second resistance is a $ 224 (resistance to price congestion). Exceeding this price level would strengthen the bullish movement. The third level of upward resistance awaits $ 236 (resistance to price congestion).

eth_usd_10-636773585165809639.png "src =" https://cdn1.benzinga.com/files/u105576/eth_usd_10-636773585165809639.png "/></p> <p>The 240-minute MACD shows a cross-section on the negative side but above the zero line. This line can support the price when the indicator reaches the equilibrium zone.</p> <p>The 240-minute DMI shows a situation of total equality between bears and bulls. Unlike the BTC / USD, it is not yet clear who will take the lead.</p> <h3><strong>XRP / USD 240 minutes.</strong></h3> <p>The XRP / USD is quoted at <strong>$ 0.504</strong> at the time of writing. Its structure shows much more solidity than Bitcoin or Ethereum.</p> <p>Below the current price, the first support is a <strong>$ 0.494</strong> (EMA50). The second support waits for <strong>$ 0.474</strong> (Trendline). This second level of support should not be broken down. The third support a <strong>$ 0.471</strong> (SMA100). This 100-period moving average is on the upside and should exceed the trend line mentioned in the next few hours. This situation would bring even more force to the XRP / USD.</p> <p>Above the current price, the first resistance a <strong>$ 0.55 </strong>(resistance to price congestion). The second resistance is a <strong>$ 0.585</strong> (resistance to price congestion). The goal of a new bullish tranche is higher than the last relative maximum of <strong>$ 0.764.</strong></p> <p><img alt=

The 240-minute MACD is crossed but above the zero line. He has room to keep falling until he finds support for the indicator's level of balance.

The 240-minute DMI shows us that bears and tori are fully paired. Both are under the ADX line, which facilitates abrupt changes in direction.

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