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Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto markets eye bullish move as power struggle continues

  • Bitcoin price contemplates a quick run-up to $42,748 despite facing multiple hurdles.
  • Ethereum price is likely to follow BTC, but its upside is capped at $3,188.
  • Ripple price to provide sidelined buyers an opportunity to accumulate before a 35% upswing

Bitcoin price is trading inside a massive demand zone, which is the only thing preventing it from a catastrophic crash. Despite its uber bearishness, BTC bulls are likely to trigger a quick rally to immediate hurdles. Ethereum, Ripple and other altcoins are likely to follow suit.

Bitcoin price to gather momentum

Bitcoin price pierced through the $36,398 to $38,895 demand zone on February 24 but managed to recover and prevent invalidating the said barrier. This quick pullback helped BTC bulls retain their bullishness. 

A quick run-up from here seems likely, therefore, especially if Bitcoin can slice through the 50-day Simple Moving Average (SMA) at $40,221. In such a case, BTC price could make a run to the immediate resistance barrier at $42,748, bringing the total gain to 13%.

BTC/USD 4-hour chart

On the other hand, if Bitcoin price produces a four-hour candlestick close below $36,398, it will create a lower low and invalidate the bullish thesis. This development could pave the path for BTC to revisit the $34,752 support barrier.

Ethereum price readies a move higher

Ethereum price is retesting the $2,160 to $2,567 demand zone after tagging it twice over the last week. A bounce here is necessary for ETH to retest the 50-day SMA at $2,863, which is the first major hurdle.

Clearing this blockade will open the path for Ethereum price to retest the daily supply zone, extending from $3,188 to $3,393. This barrier is where the upside for ETH will be capped. Any move beyond this area seems unlikely, considering the consolidative nature of BTC and Ethereum’s correlation with it.

ETH/USD 4-hour chart

Regardless of the bullishness, a sell-off in Bitcoin price could also translate into a crash for ETH. If Ethereum price produces a four-hour candlestick close below $2,160, it will create a lower low and invalidate the bullish thesis.

In this scenario, ETH will revisit the $1,730 barrier, where buyers can make a comeback if they band together.

Ripple price hints at comeback

Ripple price is stuck trading under a declining trend line that has prevented it from moving higher. There is a good chance that this price action will knock XRP lower to a stable support level. The twelve-hour demand zone, extending from $0.55 to $0.63 is the foothold that will absorb the incoming selling pressure and allow the remittance token to form a base.

A reverse from here will likely propel Ripple price 35% higher and tag the immediate resistance barrier at $0.85. The liquidity resting above $0.85 is the reason why market makers will push XRP price to sweep above it.

XRP/USD 6-hour chart

While things are looking up for Ripple price, a breakdown of the demand zone will create a bearish lower low. Therefore, a six-hour candlestick close below $0.55 will invalidate the bullish thesis and open the path for a steep correction.

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


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