Ethereum (ETH), XRP – Bitcoin continues to talk about the end of the first week of Q2 2019, with the fulfillment of encouraging scenarios rebound in its price, established by many analysts as being supported by the entry of fresh money into the ecosystem, supporting the growth of the main reference and Of course the rest of the altcoins.
At the time of writing, the ecosystem presents a general market capitalization of just over $ 180 billion, a volume, in recent days, exceeding the $ 50 billion that has allowed all the sustained upward movement of the cryptographic market.
Bitcoin has been moving its domain laterally between the 50% and 51% bands, which shows that cryptocurrency pairs of altcoins against BTC is stronger than many of us thought.
Gone are the days where investors only turned their eyes towards Bitcoin and its immediate followers. Many projects have undoubtedly benefited from this bullish rally that invoked Bitcoin to exceed the $ 5200 barrier to achieve medium-term objectives above $ 6000, as we have predicted in our previous posts.
Of the five main cryptographic assets, only Ripple has been in prolonged correction, not to mention BCH and LTC that maintained an unthinkable sustained growth a couple of months ago in a struggle for the fourth place.
For now we will concentrate efforts to carry out an update on the possible scenarios for the three main assets by market capitalization.
BITCOIN (BTC) Price Prediction For Next Week
At the time of writing, the main asset is listed at a spot price of $ 5178.23 USD per unit, with an upward momentum of + 2.91% in the last 24 hours. Its daily volume has dropped a bit to $16 billion a day compared to the beginning of the week.
The scenario for next week promises a strong price correction, which should not worry investors, since this scenario is normal for the withdrawal of profits and entry into the scene of new and current investors to get more profit with a stronger momentum for BTC.
From the previous graph, two things are striking: the first is corrective EMA crossing for the start of the second week of Q2 2019, which could lead BTC to the worst scenario of bottoming at support levels S2 ($ 4194), the approximate price before the April rally bullish.
This scenario is confirmed by the Aroon UpTrend indicator (blue line) which begins to show descending symptoms for the weekend.
The second important aspect is the fact that BTC could reach levels of R1 ($ 5755) before starting its bearish trend. If so, and not being able to keep up, the projected fuchsia pattern will continue approximately.
But if BTC manages to reach levels of R1 and stays above the ‘X’ point of Elliot Wave Triple Correction, we could see a new bullish rally towards the $ 6000 scenario would be achieved before the month of May.
This scenario is further supported by the Chaikin Money Flow (CMF) indicator, which is already projecting higher levels of capital flow income to the BTC ecosystem for approximate values of the start of the week, with a new minimum, higher than the weekend.
ETHEREUM (ETH) Price Prediction For Next Week
The second ecosystem cryptocurrency already has an advantage of almost $ 3 billion over its closest competitor, XRP. This gives an idea that ETH without much noise has been consolidating position as the most important altcoin again in the entire crypto market.
At the time of writing, ETH presents a quoted price of $ 169.15 per unit with a growth of +3.04 in the last 24 hours. Its stock market capitalization market is $ 17.8 trillion.
Ethereum has already broken the previous expected resistance of $ 164.7 according to our last post:
For the next week it is expected that on Mondaym, ETH would enter a phase of correction of their prices according to the Elliot Wave pattern, going from the weekend point ‘C’ to the point of immediate support S1 ($ 155.57), and then Take off again to immediate resistance levels R1 ($ 190).
This pattern is confirmed by the RSI indicator that presents a generalized ascending channel in equilibrium levels between bulls and bears.
RIPPLE (XRP) Price Prediction For Next Week
Ripple with its token XRP, continues to speak with the large number of use cases that are increasingly applied with alliances for remittances and cross-border payments. At the time of writing, XRP quotes at $ 0.359 per unit with a correction of -1.05%. Its market capitalization is almost $ 15 billion, a value which keeps it on the third position.
XRP at the time of writing presents a pattern of Elliot Wave triple correction which is expected to correct its prices up to the level of immediate support S1 ($ 0.3298) up to the point ‘D’, then make a takeoff to levels of R1 ($ 0.385 ).
The previous pattern is confirmed by the Stochastic indicator, which moves to the sales area gradually.