Bitcoin [BTC], NEO, XRP Price Prediction and Analysis ⋆ ZyCrypto
BTC/USD pair has undergone a bullish outlook in the last 24hrs. BTC has moved up by 9.9% since it began trading yesterday at $11135.31 (A) and is currently trading at $13605.96.
Despite BTC having begun trading on a short-term consolidation period from A to B, an uptrend has held with all indicators pointing towards a bullish trajectory.
At around 21:00 a bullish regular divergence pattern is seen that pushed the price momentum up to a high of $12935.58 before it dropped slightly to the current price. The RSI X is seen above level 70 that indicated an overbought market momentum.
Increase in BTC price has led to a positive impact on investor sentiments. The RSI also reflects increase buyouts; this is because the indicator is currently increasing.
A further uptrend is likely to be seen, this is because the 7-day MA is still gravitating above the 21-day MA indicating a bullish signal. New target should be set at $14796.91.
Like BTC, Neo/USD pair has been exhibiting a bullish outlook in the last 24hrs. The uptrend was supported by the 7-day moving average that is trading above the 21-day moving average. Neo registered an uptrend to the tune of 10.01% where it began trading from $17.62 to the current price of $19.50.
The bullish movement was reflected in the pair’s price consolidation trend. The support level was moved up from $17.78 to $18.71 while the resistance level was tested and breached severally.
An overbought market was also encountered at 17:00 yesterday and at 01:00 today this is because the Relative Strength Index was trading above level 70 at that period of time.
The bulls drastically pushed the price momentum up to a high of $20.85 testing resistance level (R). This was followed by a slight dip that placed Neo to its current price.
There is a high probability of an incoming bearish market since the RSI is currently heading south thus indicting increase sellouts. New support level should be stood at $ 19.36.
XRP/USD pair is up by 2.47% over the last 24hrs. It moved from $0.46771 to the current price of 0.48390. The upward price rally has been buttressed by the 7-day moving average that is currently gravitating above the 21-day moving average.
XRP was seen trading on a sideways price movement where it placed support level at $0.45888 and resistance level at $0.46993.
Yesterday, around 03:00, a bullish engulfing pattern was seen that resulted in a breakout. The breakdown breached resistance level and further raised the price up to a high of $0.49000 before it slightly dipped to close at $0.46990.
The Relative Strength Index is currently heading north which shows reluctance by investors to sell off their XRP holdings in anticipation for better prices.
At the moment, the 21-day MA is acting as the price support at the $0.46730 mark and the 7-day MA is dominantly above the 21-day MA. This signals a strong bullish momentum in the coming days. New target should be set at $0.49942.
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