It hasn’t been a good week for the cryptocurrencies market. And from the looks of the overall cryptocurrencies analysis, things might still get worse before they can get better. Today we’ll break down each separate cryptocurrency price prediction and try and determine the overall market situation.
General sentiment is that the altcoins need to rise above their immediate resistance levels soon, or else they risk falling even deeper. Thus, the Ethereum price prediction entails an intensified sell off if the price break below the support level of $308.39. in fact, should this be the case, the cryptocurrency Ethereum price prediction is for a tumble all the way down to $255.
It’s a similar story for the cryptocurrency XRP, price prediction for which warns of a potential decline to the 200-day SMA of $0.214. There’s a genuine struggle evident in the chart, as the bears are putting a lot of pressure and trying to shape the XRP price prediction for the near future. Likewise, the Litecoin price prediction is looking towards its next support level of $39. This is an important area in the chart, however, that may even have the potential of turning the trend around.
Give us a thumbs up if you liked our cryptocurrency price prediction 2020, and leave us a comment down below with your thoughts on our cryptocurrencies forecast. Be sure to subscribe to the Currency.com official channel for more cryptocurrencies news and other exciting trading content! And hit the notification bell to be informed about our next cryptocurrencies price analysis.