A couple of days ago, the crypto market experienced a huge sell-off which saw coins losing double digits of their values. The total market cap fell to $249.1 billion from $294.9 billion. This drop of more than15% in a few days was a rude shock to traders and enthusiasts. Lots of digital assets plummeted and some even fell below crucial support areas. Fortunately, this effect reversed on Thursday.
Some heavily hit cryptos such as XRP, EOS, and Bitcoin Cash are showing bullish signals. How high can they go?
XRP (XRP) Price Today – XRP / USD
XRP Price Prediction 2019: XRP/USD Stuck in Range Accumulation
XRP had a chance to break out from range accumulation and enter a bull market on June 22. The market participants succeeded in pushing the price above $0.46 resistance. At this time, the bulls just needed the price to stay above the level for a couple of days for a rally to happen.
Sadly, the price could not be sustained, and the bears took over. This event triggered the massive selloff that pushed XRP price to the recent low of $0.2825 on July 16.
the sharp drop in price to the support level of $0.29 placed the market in the oversold territory. Now the bulls took a chance of the bearish exhaustion and the price started a journey back to the bullish territory.
XRP may be an ideal investment if trader buys at support level $0.29 or close. Other targets to monitor include range resistance of $0.46 and range midpoint of $0.375.
Bitcoin Cash Price Prediction: BCH Correction Has Been Exhausted
BCH also suffered a massive price correction after it reached a 2019 high of $517.20 last month. It lost almost have its value on July 15 in less than a month. The coin looks ready to surge after it reclaimed range support.
It has been able to stay above the support level of $300. the market is currently flashing the oversold signals on the daily RSI.
The ideal buying area is as close to $300 while looking out for the $515 and $407.50 targets.
EOS Price Prediction: EOS Is Also Breaking Out Soon
The coin with the worst correction was EOS as it plunged from its high of $8.6503 to $3.30. this loss amounted to more than 61 percent in a few months since May. EOS price took the worst hit but seems ready to bounce back. The market isn’t fully out of the bearish trend, but it is clear that the worst is over at this point.
At the moment, EOS is in the oversold position on the daily RSI. The bulls are also back to its defense at the support level of $3.60. Earlier in March, the bulls established a base using that price level which would launch the coin above $8.00. it isn’t shocking that the bulls are struggling to control the support level.
Trader may benefit from the is EOS market if they consider buying at the support level of $3.60 or nearby. The target prices to look out for include $6.85 and $5.225.
The Correction Allows XRP, BCH and EOS to Take Control of the Dip
The recent pullback drove many large-cap cryptocurrencies to their support areas. At the moment, the bulls are protecting these territories.
All three coins show oversold readings, and this means the bulls can easily maintain the trend. The market could move higher in the short term. This may just be a good time to buy the dip.