Bitcoin Price Prediction: Will BTC/USD surge above $7,000 confirm trajectory to $8,000? – Confluence Detector
Bitcoin price bulls are concentrating on one key resistance; $7,000. The surge on Friday last week pulled BTC/USD from lows under $5,500 to highs touching the coveted $7,000. However, the weekend action remained drab as the buyers lost traction amid increased bearish action. Various support areas were confirmed including $6,000, and $5,800. Bitcoin price commenced this week’s trading battling tooth and nail to force a reversal targeting $7,000.
Ethereum Price Analysis: ETH/USD settles above $140.00, indicators imply further recovery
ETH/USD hit the intraday high at $144.04 before retreating to $142.60. The-second largest digital asset is moving within a strong bullish trend on intraday charts, in sync with the market. On a day-to-day basis, ETH has gained over 15%. The bullish sentiments helped the coin to move outside the Bollinger Band on the 1-hour chart, which means the correction may be around the corner.
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TRON Price Analysis: TRX/USD aims at $0.0120 amid global cryptocurrency recovery
TRX slipped to the 17th place giving way to Cardano's ADA, even though Tron's market value increased from $704 on Monday to $759 million by press time. TRX/USD has gained over 8% in the recent 24 hours amid the resumed recovery on the global cryptocurrency market. The coin is changing hands at $0.0113, off the recent high reached at $0.0115.
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Ripple price has been range bound between $0.5666 and $0.5068 since October 3. Over the past 20 days, XRP has traded within the range even as the SEC vs. Ripple lawsuit sees new developments.
Ethereum Price Forecast: ETH declines below $2,500 as demand fades
Ethereum price is nearing its daily support level of $2,461; a firm close below this level would suggest a decline ahead. Coinbase Premium Index shows signs of weakness and remains below neutral levels.
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Bitcoin has found support at the key $66,000 level, suggesting a potential recovery. However, Ethereum and Ripple prices are struggling below their critical support levels, indicating a possible continuation of their downtrends.
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