During the early hours of today, and the beginning of the last week of the April bullish month, there was a slight price contraction in almost all the main cryptos. As the day cleared, almost all of the top twenty cryptocurrencies are seeing a slight green hue, with Bitcoin at the forefront marking the way with its price above the $ 5300 level.
At the time of writing, the top 5 coins are flagged with green, including BCH that was contracting at dawn in three percentage points. The market has a greater dominance of BTC in the ecosystem, and has seen its global capitalization volume grow vigorously, approaching the level of $ 180 billion dollars again.
Bitcoin (BTC) Price Prediction
The main reference of the ecosystem remains quoted at the time of writing at a price of $ 5336.22 per unit with a growth of + 1.08% in the last 24 hours and its volume of capitalization already reaches almost $ 95 billion.
The market with the highest participation is the BTC / USDT pair according to Fcoin exchange with 8.30%, and almost two percentage points above the dominant market share, BitMex. This gives us an idea, that many firms have been incentivized to reactivate their operations.
The price of Bitcoin has just completed its fifteenth week of 2019, once again, the bulls managed to print a higher point at the close of the candle. For this, we visualize the 4H graph of the cryptocurrency and analyze its future.
So far every attempt to break the $ 5350 has failed, but a proven resistance often weakens. BTC is currently in a decision zone, so keep in mind that this is not the best time to exchange altcoins. Usually Monday and Tuesday are the days with more movement, so the next 48 hours will be crucial to see if BTC manages to break and stay above the $ 5350 resistance.
In the long term, the 1D chart for Bitcoin is still interesting, it has not changed so much since our last analysis for the cryptocurrency in this investment horizon.
From the previous graphic we must highlight several important points:
BTC is accelerating its growth to the level of six thousand, as we can see it has surpassed the ascending channel projected by the upper end. It is anticipated that BTC will reach the barrier of $ 5800 by the end of April and the beginning of May, but its accelerated behavior makes us rethink that this might be possible in times sooner than initially expected.
We have major confluence at this level from the top resistance as well. pic.twitter.com/1U2Mj4Z0Rl
— Jacob Canfield (@JacobCanfield) April 20, 2019
- The RSI has achieved levels of overbought earlier than expected and its positive slope, as well as the indicated bullish EMA crossroad, projecting a bullish rally for this week. This, according to the experts, could generate an additional $ 1 billion to the market in general.
- If the aforementioned behavior is not interrupted by any external event such as the recent happening of BSV delisting and its war of exchanges, the Fibonacci trend may fall follow the projections. This indicates something positive for investors who expect a take-off of the price of crypt assets.
- BTC has been generating increasingly higher minimums as we can see from December 2018 on the chart to the current date.
ETHEREUM (ETH) Price Prediction
The second largest cryptocurrency in the ecosystem has managed to stay away from XRP even though in the recent time the Ripple token had threatened its position as leader of the altcoins.
At the time of writing, Vitalik Buterin’s cryptocurrency generated a profit of + 1.54% in its price in the last 24 hours with a price of $ 171.37 USD. Its market capitalization has also grown steadily with $ 18 billion that anchors it to the second place in the ecosystem and the undisputed leader of the altcoins.
Ethereum 1D chart has not changed much. The Elliot wave is still running on its third wave and the estimated average price in view of the higher supports generated by the altcoin has risen to the level of $ 186.96 USD.
Ethereum is expected to reach the $ 200 psychological barrier next week in a continued bullish rally, which could trigger new year highs.
Aroon downtrend has not been able to take flight as we see its cross at the bottom of the graph, a sign that the uptrend is just around the corner.
RIPPLE (XRP) Price Prediction
The third asset with the highest market capitalization remains in an upward trend, trading at a spot price of $ 0.324, with + 1.21% added value in the last 24 hours, which keeps it above the thirty cents range.
The long-term chart remains with slight variations but in essence with optimism of what the Ripple token can achieve in the coming months. XRP is currently drawing the Elliot pattern, culminating its first wave and it is expected that the rest of Q2 2019, the token will approach the level of R1 and R2 on the average of half a cent of dollar.
This previous pattern is supported by the stochastic indicator, which has been cyclical for the XRP token with minimum values becoming higher as the year counts down.
We have already mentioned on other occasions, that the adoption Ripple is generating for its XRP token will reflect in the price of XRP. Every effort has its fruits and the team as well as the XRP investors are quite clear that the outlook of this asset will be more than profitable for the rest of the year.