Bitcoin price prediction: BTC/USD gets ready to a big journey to the North - Bitcoin confluence
Bitcoin (BTC) has resumed the upside and touched $11,340 during Asian hours on Tuesday. The first digital currency has gained over 4% since this time on Monday and grew by 3% since the beginning of the day.
Bitcoin confluence levels
The path to the South is riddled with strong technical levels, while the upside movement promises to be nice and easy once the critical resistance $11,500 is out of the way. Let’s have a closer look at the barriers that might influence Bitcoin’s movements in the short run.
Ethereum (ETH) price analysis: ETH/USD bulls have to clear $320 barrier
The coin has recovered from Monday’s low of $294 to trade at $313.30 by the time of writing. The second largest cryptocurrency with the current market capitalization of $33.2 billion and an average daily trading volume of $7.9 billion has gained nearly 3% in recent 24 hours and stayed unchanged since the beginning of Tuesday.
Ethereum’s technical picture
Looking technically, a sustainable move above $315.00 (the upper line of 4-hour Bollinger Band) will help to unleash Ethereum’s bullish potential and push the price towards the next upside target $320. Basically, we are entering uncharted territory for the ETH with the next strong barrier created by SMA100 weekly at $381. Once it is cleared, $400.00 will come into view.
Ripple market overview: XRP/USD lags behind Bitcoin and Ethereum as consolidation sets in
Ripple's formidable gains saw it trade above $0.5 level for the first time this year. Although the correction followed in the footsteps of Bitcoin, Ripple gains greatly lagged behind the largest asset which is currently trading closer to its 15-months high.
On the other hand, XRP/USD has been forming a higher low pattern from June’s low marginally above $0.3800. Initially, the struggle at $0.4600 capped gains while the downside was supported at $0.4200. The correction above the 50 Simple Moving Average (SMA) and the 100 SMA as well as the 100 Exponential Moving Average (EMA) ignited the momentum as Ripple broke past $0.48 hurdle and eventually climbed above $0.50.
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Polygon joins forces with WSPN to expand stablecoin adoption
WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.
Coinbase envisages listing of more meme coins amid regulatory optimism
Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B
As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: Rally expected to continue as BTC nears $100K
Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.