Altcoins have in the last 24 hours rocketed to new levels, including Ethereum, Rippleand Bitcoin Cash. Ether and XRP hit new yearly highs, while BCH has added more than 17% to its value to trade at $345. Other smaller altcoins like Stellar Lumens and TRON also soared impressively to exchange hands at $0.17 and $0.036, respectively.<\/p>\n
Intriguingly, HedgeTrade has spiked more than 370% in the last 24 hours and 391% in just one hour, according to CoinMarketCap. It seems the altcoin season is taking over, even with Bitcoin hitting new yearly highs above $19,000. Most of the top 50 assets are in the green on Tuesday during the European session.<\/p>\n
The flagship cryptocurrency recently hit a barrier near $20,000. The resistance threw buyers off-balance, leading to declines that tested support provided at $17,500 and the 50 Simple Moving Average (SMA).<\/p>\n
A reversal occurred, sending Bitcoin on a recovery mission, but it has been able to holdabove $18,500. BTC is at the time of writing making new yearly highs above $19,000 and closing in its all-time highs,amid a bullish building momentum. The formation of a symmetrical triangle pattern on the 4-hour chart points towards an 8% upswing to $20,000.<\/p>\n<\/p>\n
BTC\/USD 4-hour chart<\/p>\n
On the flip side, if the spike above the triangles upper boundary fails to confirm, bears could gain confidence and push for another correction. A breakdown under the triangle might result in an 8% spiral to $16,500, completely sabotaging the bullish outlook to $20,000.<\/p>\n
Ethereum beat the $620 prediction on Thursday, ascending to new yearly highs at $621. The smart contract token is still holding to the bullish momentum despite a minor retreat following the resistance at 2020 high.<\/p>\n
At the time of writing, ETH\/USD is trading at $618, but bulls aim for gains above $620. Investors and analysts believe that Ethereum is yet to reach its 2020 limit, especially with the launch of ETH 2.0 around the corner.<\/p>\n
The Relative Strength Index has validated the bullish outlook, which continues to strike higher levels within in the overbought territory. If Ethereum closed the day above $620, buyers would be encouraged to increase their positions and perhaps create enough volume to support another breakout to $700.<\/p>\n<\/p>\n
ETH\/USD 4-hour chart<\/p>\n
It is worth mentioning that Ethereums bullish outlook will be invalidated if the price hits a barrier at an ascending wedge channel. Trading under the wedge may call for more sell orders, resulting in a slump under $600. The most formidable support lies at $580, $520and $440.<\/p>\n
The cross-border token went ballistic on Monday, almost hitting $1, following a flash liftoff. The drastic upswing sliced through various resistance zones such as $0.6 and $0.7. However, a retreat from the new yearly high has extended under $0.7.<\/p>\n
XRP is trading at $0.68 at the time of writing amid developing bearish correction. The RSI has validated the slump as it drops from the oversold region. If a bearish divergence confirms, XRP could embark on a gain-trimming exercise. For now, the path with the least resistance is downwards until formidable support is established.<\/p>\n<\/p>\n
XRP\/USD 4-hour chart<\/p>\n
On the other hand, closing above $0.7 could renew the uptrend to $1. Meanwhile, the 50 SMA is still extending the gap above the 100 SMA and the 200 SMA, suggesting that buyers still control the token. Support is likely to be embraced at $0.6, $0.5and $0.4.<\/p>\n
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Top 3 Price Prediction Bitcoin, Ethereum, Ripple: ETH and XRP go ballistic, lead the altcoin bull cycle - FXStreet<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Altcoins have in the last 24 hours rocketed to new levels, including Ethereum, Rippleand Bitcoin Cash. Ether and XRP hit new yearly highs, while BCH has added more than 17% to its value to trade at $345. Continue reading