Top 3 Price Prediction Bitcoin, Ethereum and Ripple: Consolidation period starts as bulls and bears cancel each other out – FXStreet

Bitcoin, Ethereum, and Ripple bears took control this Thursday to correct this Wednesdays bullish action. The price action of the coins look like this:

Alternative.mes fear and greed index has kept steady around 40, and the current market sentiment is still in the fear region. This indicates that there is still some upside potential for Bitcoin.

ETH/BTC has gone up from 0.0239 to 0.0241 but has failed to keep pace with the green Ichimoku cloud. Bulls must gather enough momentum to break past the 0.0243, the SMA 50 and 0.0248. On the downside, there are healthy support levels at 0.0239 and 0.0235. The MACD shows increasing bearish momentum, while the Elliott Oscillator has had six straight red sessions.

BTC/USD is currently consolidating in a flag formation below the $9,000 level. The price is sitting just below the upper curve of the 20-day Bollinger Band. On the upside, the price faces strong resistance levels at $9,161.75 and $9444.58. This means that the price can go up to the $9,000-level before encountering resistance. On the downside, there are two healthy support levels at $8,616.20 and $8,191.90. The RSI indicator is hovering at the edge of the overbought zone, showing that the asset is a bit overpriced and may face short-term bearish correction.

The daily ETH/USD chart is consolidating below the $215-level within the triangle formation. The price faces three strong resistance levels at the upward trending line, $224,78 and $232. On the downside, healthy support levels lie at $206.50 and $198. The RSI is hovering right next to the overbought zone, while the Elliott Oscillator has had eight straight green levels.

XRP/USD fell from $0.2178 to $0.217 in the early hours of Saturday. This Friday, the price encountered resistance at the 20-day Bollinger Band upper curve and fell down. The widening of the jaw shows increasing price volatility. If the bulls gain back momentum, theyll need to overcome resistance at the $0.225 line and the SMA 200. Following that, the next resistance level of note lies at $0.2377. On the downside, there are two healthy supports at $0.2125 and $0.203. The Elliott Oscillator has had eight straight green sessions, while the MACD shows increasing bullish momentum.

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Top 3 Price Prediction Bitcoin, Ethereum and Ripple: Consolidation period starts as bulls and bears cancel each other out - FXStreet