345
132 shares, 345 points

Analyst Jonathan Morgan made price predictions about 3 coins. He predicted minor corrections before the next step for Bitcoin, Ethereum and Ripple (XRP). Bitcoin price movements could rise above Tenkan-Sen, creating a profit-making and corrective move. Ethereum price breaks above a bullish continuation pattern, but momentum is weak. XRP price continues to lag behind Bitcoin and Ethereum but is poised to catch up with them in relative performance. Detail Cryptocoin. com

at .

Ripple, Ethereum and Bitcoin forecasts

Bitcoin price has spent the past five trading days below the daily Tenkan-Sen on the Ichimoku Kinko Hyo system, warning that a deeper corrective move may occur. Ethereum price climbed above a bullish pennant, but remained relatively quiet following the rise. XRP is developing a bullish continuation pattern as it maintains bullish Ichimoku levels. Bitcoin price is showing signs of near-term weakness. Bitcoin price may be positioning for a standard correction if it fails to turn back and close above Tenkan-Sen. The primary support level below in the Ichimoku Kinko Hyo system for Bitcoin is the $55,000 Kijun-Sen. If $55,000 fails to hold as the support zone, the next one is Senkou Span B at $46,500.

The threat of a corrective move will be invalidated if Bitcoin has a strong close above Tenkan-Sen, ideally at $64,000 or above. From there, Bitcoin will likely continue its uptrend and push towards all-time highs. Ethereum price is rising above the ascending triangle pattern. Ethereum price has climbed above one of the most sought-after bullish continuation patterns in technical analysis: the ascending triangle. Wherever an ascending triangle develops – below a move or at the top of a move – it is an overwhelmingly bullish pattern. Therefore, it is interesting that Ethereum price has not yet had a strong and stable bullish response. If Ethereum returns inside the triangle, a turn is likely to test Tenkan-Sen at $4,000. Below this, the next Ichimoku support level is Kijun-Sen at $3,675.

Of course, any downside pressure will vanish if Ethereum price sees pressure towards all-time highs. $5.400 is the next target for Ethereum as a key resistance level after all-time highs.

XRP price which way?

Ripple price is poised to catch up with BTC and Ethereum, with the thought of a few bullish breakouts in play appear to be the two main bullish variables that indicate a higher move is imminent on the daily Ichimoku chart of XRP price. First, XRP fulfilled all the conditions for the “Ideal Bullish Ichimoku Breakout”. Second, XRP has developed a bull flag. As a result, a daily close at $1.15 or above would confirm an entry following a breakout from the bull flag pattern, while maintaining the bullish Ichimoku setup. However, downside risks remain. Although XRP has a high market cap, it is still associated with the movement of Bitcoin and Ethereum. Any heavy selling pressure on Bitcoin and Ethereum will weigh heavily on the XRP price. If XRP price closes below the Cloud at $1.03, $0.85, a quick trip to revisit the support zone is most likely.


Like it? Share with your friends!

345
132 shares, 345 points

What's Your Reaction?

hate hate
245
hate
confused confused
981
confused
fail fail
613
fail
fun fun
490
fun
geeky geeky
368
geeky
love love
1226
love
lol lol
122
lol
omg omg
981
omg
win win
613
win
Michael Lewis

Emperor

0 Comments

Your email address will not be published. Required fields are marked *

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format