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📈 Price Predictions
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BTC, ETH, XRP Price Analysis — Bitcoin Might Retest $10,000. Is the Recovery Postponed?

  • Denys Serhiichuk
    📈 Price Predictions

    The market is all on the red again. When do bulls seize the initiative and push bears out?


BTC, ETH, XRP Price Analysis — Bitcoin Might Retest $10,000. Is the Recovery Postponed?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

Bakkt decision to start testing its physically delivered Bitcoin futures has not positively influenced the cryptocurrency market. Litecoin is the biggest loser among the general market decline, its rate has decreased by more than 5%. However, Bitcoin SV is the exception from the rule, as its quotes located in the green zone. 

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

Against the market decline, Bitcoin has set new hash rate record on July 20, having peaked at 79 tera hashes per second.

BTC/USD

The leading cryptocurrency could not fix above $10,500 and now moving towards the psychological $10,000 mark.

 BTC/USD 1- day chart
BTC/USD chart by TradingView

On the 1H chart, Bitcoin is looking bearish due to the low trading volume and declining MACD indicator. Respectively, there are no prerequisites for further growth. In terms of a short-term scenario, the price will be located between the support at $9,900 and resistance at $10,100. 

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The price of BTC is trading at $10,116 at the time of writing.

ETH/USD

Ethereum is falling even faster than Bitcoin, going down by 4.5% over the last 24 hours. Currently, it is the biggest loser compared to other top 3 coins. 

ETH/USD 1-hour chart
ETH/USD chart by TradingView

The chief altcoin broke the support at $220 and now moving to retest the vital $200 mark. Analyzing the hourly chart, nothing can stop Ethereum from a further decline. The lines of the RSI indicator are going down, suggesting that sellers have not run out of steam yet. Once $200 is reached, traders might think about a possible reversal, but not a fast bounceback.

The price of ETH is trading at $212.45 at the time of writing.

XRP/USD

Ripple is the ’top gainer’ today, as its rate has decreased by 4.6% over the last day, which is the least decline compared to other top coins.

XRP/USD 1-hour chart
XRP/USD chart by TradingView

On the 1H chart, XRP is about to finish the formation of the Head and Shoulders pattern. In this case, the coin is going to retest the support at $0.30 in a few days. The declining trading volume confirms the bearish tendencies of Ripple.

The price of XRP is trading at $0.3115 at the time of writing.

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About the author

Being a passionate blockchain enthusiast Denys has a vast experience in сryptocurrency market analysis, as well as blockchain related projects. All this is backed up by his working at W12 platform, Platinum Listing & ICO Advisory company, Export.Online and many others.

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