Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC prepares to retest $40,000, altcoins wait with bated breath


  • Bitcoin price is declining in search of a support barrier that might kick-start a 20% rally.
  • Ethereum price retraces, promptly following the pioneer cryptocurrency.
  • Ripple price is heading lower to retest the range low at $0.65.

Bitcoin price seems to have undone most of its gains after June 27. This pullback occurs at the midpoint of the range, indicating that the buying pressure was insufficient. However, investors can expect this retracement to soon reverse around an immediate support level, resulting in a swift break above the range’s equilibrium. Ethereum and Ripple will most likely follow the same path as BTC.

Bitcoin price eyes higher high

Bitcoin price rose roughly 21% since June 26, but the bears seem to be bent on undoing these gains. So far, BTC has retraced nearly 10% and might decline more.

Investors can expect this correction to find a foothold at the demand zone, extending from $32,268 to $33,200. There is a high chance the drawdown will end here, considering this area’s role in pushing BTC from $32,268 to $36,600 recently. Market participants need to pay close attention to these levels.

In some cases, the sellers might extend the retracement to $31,000 and sweep below $30,000 to collect liquidity before launching to $40,000. This move would be a 32% upswing from $30,000.

BTC/USDT 4-hour chart

BTC/USDT 4-hour chart

While the retracement might extend to $30,000, investors need to note that Bitcoin price needs to recover quickly. A failure to do so might indicate weakness among buyers and will end the bullish thesis explained above. 

In such a case, BTC might slide to the range low at $28,766.

Ethereum price scrambles to find support

Ethereum price created a higher high at $2,287 on June 30 despite BTC’s indecisiveness, suggesting that the ETH buyers have resurfaced. Currently, Ether is following the flagship crypto’s lead and is undergoing a correction.

The support barriers at $2,045 and $1,965 are likely places where this pullback might reverse. However, in a bearish case, ETH might revisit the range low at $1,804 formed on June 27.

The resulting upswing from either of the demand barriers mentioned above might push above the 50% Fibonacci retracement level at $2,320 and potentially retest the resistance ceiling at $2,460.

ETH/USDT 4-hour chart

ETH/USDT 4-hour chart

Under extremely bearish circumstances, a breakdown of the range low at $1,728 will invalidate the optimistic narrative.

Ripple price shows restraint

Ripple price has rallied 44% since creating a local bottom at $0.51 on June 22 but retraced only 10% since the swing high at $0.734. Such a dynamic price action indicates that investors are actively purchasing XRP.

The retracement might extend another 10% to the support level at $0.581. However, the upswing that stems from this demand barrier could effectively pierce through intermediate resistance levels to tag the 50% Fibonacci retracement level at $0.875, which would be a 50% ascent.

XRP/USDT 4-hour chart

XRP/USDT 4-hour chart

Regardless of XRP price and its correlation to the flagship crypto, a breakdown of $0.734 will invalidate the bullish thesis. This move would open the possibility of a 15% downswing to $0.496.


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


Recommended Content

Editors’ Picks

Polygon joins forces with WSPN to expand stablecoin adoption

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.

More Cryptocurrencies News
Coinbase envisages listing of more meme coins amid regulatory optimism

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.

More Crypto News
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

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.

More Bitcoin News
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

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.

More Shiba Inu News
Bitcoin: Rally expected to continue as BTC nears $100K

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. 

Read full analysis
Best Forex Brokers with Low Spreads

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.

Read More

BTC

ETH

XRP