Analyst Jonathan Morgan made price predictions about 3 coins. He predicted minor corrections before the next step for Bitcoin, Ethereum and Ripple (XRP). Bitcoin price movements could break above Tenkan-Sen, creating a profit-making and corrective move. Ethereum price breaks above a bullish continuation pattern, but momentum is weak. XRP price continues to lag behind Bitcoin and Ethereum but is poised to catch up with them in relative performance. Detail cryptocoin.com‘in.
Ripple, Ethereum and Bitcoin predictions
Bitcoin price has spent the past five trading days below daily Tenkan-Sen on the Ichimoku Kinko Hyo system, warning that a deeper corrective move may occur. Ethereum price climbed above a bullish pennant, but remained relatively quiet following the rise. XRP is developing a bullish continuation pattern as it maintains bullish Ichimoku levels. Bitcoin price is showing signs of near-term weakness. Bitcoin price could be positioning for a standard correction if it fails to turn back and close above Tenkan-Sen. The primary support level below in the Ichimoku Kinko Hyo system for Bitcoin is the $55,000 Kijun-Sen. If $55,000 fails to hold as the support zone, the next one is Senkou Span B at $46,500.
If Bitcoin has a strong close above Tenkan-Sen, ideally at $64,000 or above, the threat of a corrective move will be invalidated. From there, Bitcoin will likely continue its uptrend and head towards all-time highs. Ethereum price is rising above the ascending triangle pattern. Ethereum price has climbed above one of the most sought-after bullish continuation patterns in technical analysis: the ascending triangle. Wherever an ascending triangle develops – below a move or at the top of a move – it is an overwhelmingly bullish pattern. Therefore, it is interesting that Ethereum price has not yet had a strong and stable bullish response. If Ethereum returns inside the triangle, a turn is likely to test Tenkan-Sen at $4,000. Below that, the next Ichimoku support level is Kijun-Sen at $3,675.
Of course, if Ethereum price sees a push towards all-time highs, any downside pressure will vanish. $5,400 is the next target for Ethereum as a key resistance level after all-time highs.
XRP price in what direction?
Ripple price is poised to catch up with BTC and Ethereum, with the thought of a few bullish breakouts in play appear to be the two main bullish variables that indicate a higher move is imminent on the daily Ichimoku chart of XRP price. First, XRP fulfilled all the conditions for the “Ideal Bullish Ichimoku Breakout”. Second, XRP has developed a bull flag. As a result, a daily close at $1.15 or above would confirm an entry following a breakout from the bull flag pattern, while maintaining the bullish Ichimoku setup. However, downside risks remain. Although XRP has a high market cap, it is still associated with the movement of Bitcoin and Ethereum. Any heavy selling pressure on Bitcoin and Ethereum will weigh heavily on the XRP price. If XRP price closes below the Cloud at $1.03, $0.85, a quick trip to revisit the support zone is most likely.
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