Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Retail traders still in disbelief


  • The Bitcoin price rose by 10% and now exceeds the previous range.
  • Ethereum price rallies 20% this week and could gain an additional 20%.
  • Ripple price has the potential to rally higher. 

The crypto market's rally may have shaken up retail traders. Currently, the technicals hint at more uptrend movement in the days to come. 

Bitcoin price pumps 

Bitcoin price currently trades at $20,596 as the bulls have produced an impressive 10% rally during the final week of October. The move north was catalyzed by the 8-day exponential moving average (EMA) crossing above the 21-day simple moving average on Tuesday, October 25. 

Currently, the bulls are displaying strength as the profit-taking consolidation remains above October’s trading range. A Fibonacci retracement tool surrounding the strongest part of the rally shows the current auctioning price as just a 23.6% retracement. If the market is genuine, bullish BTC price should fall into the 38.2% Fib level at $20,318 before and immediately rally higher. The next bullish target would be liquidity zones near $21,400 and the psychological $22,000 level.

Invalidation of the bullish outlook could occur if the bears cause a breach into the previous range, presumably at $19,800. In doing so, a further decline toward the $19,200 liquidity zone could result in a 7% decrease from the current market value. 

tm.btc;10.27.22

BTC/USDT 2-Hour Chart

In the following video, our analysts deep dive into the price action of Bitcoin, analyzing key levels of interest in the market. -FXStreet Team

Ethereum price blows past bears

Ethereum price has stunned the market as the bulls have pulled off a 20% rally in less than a week. Ethereum, the decentralized smart-contract token, now auctions well above the previous range while volume tapers during the current profit-taking consolidation.

Ethereum price is currently trading at $1,550. A Fibonacci retracement tool surrounding the strongest part of the rally shows Ethereum's current price as a shallow retracement, similar to Bitcoins'. A breach of the 38.2% Fib level at the $1,487 price level could be a great place for sideline bulls to enter the market.

The next bullish targets lie between $1,770 and $1,840, which would be an additional 

 15-20% increase in market value.

Invalidation of the bullish thesis could arise if the bears can tag the $1,400 level. The Ethereum price could be sucked back into the previous trading range and potentially fall near the lows of around $1,270. Such a move would result in an 18% decline from the current market value.

eth/10/27/22

ETH/USDT 1-Hour Chart

In the following video, our analysts deep dive into the price action of Ethereum, analyzing key levels of interest in the market. -FXStreet Team

XRP price back to $0.50 

XRP price currently auctions at $0.47 as the bulls have managed to breach the 8-day exponential moving average and are now testing it as support. On the week, the digital remittance token is up 5%. At the time of writing, the technicals suggest XRP has one more upswing near the $0.50 zone before facing stronger bearish pressure.  

The next hurdle for the bulls to accomplish will be the 21-day simple moving average, currently positioned at $0.48. The Relative Strength Index confounds the idea of Ripple's uptrend potential as the indicator hovers above both moving averages in supportive bullish territory.

Invalidation of the bullish thesis targeting $0.50 could happen if the bears breach the candle pierced through the 8-day exponential moving average at $0.456. If the bears manage to tag this level, an additional decline targeting October swing lows at $0.42 could occur, resulting in a 10% decrease from the current market value 
tm/xrp/10/27l22

XRP/USD 8-Hour Chart

In the following video, our analysts deep dive into the price action of Ripple, analyzing key levels of interest in the market. -FXStreet Team

 


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

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC declines as resistance emerges near all-time high

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC declines as resistance emerges near all-time high

Bitcoin and Ethereum are approaching their key support levels, and a sustained close below these marks could lead to further declines. 

More Cryptocurrencies News
TON set to launch synthetic Bitcoin to boost its DeFi solutions

TON set to launch synthetic Bitcoin to boost its DeFi solutions

TON revealed its plan on Thursday to launch a synthetic Bitcoin token on its blockchain, allowing users to trade, stake, and earn yield using BTC. Following the announcement, TON is down over 3%.

More Ton News
Maker Price Forecast: MKR could stage 40% rally

Maker Price Forecast: MKR could stage 40% rally

MakerDAO is up 2% on Thursday and could be set for a 40% rise in the coming weeks if it successfully maintains an extended move above the descending trendline of a falling wedge. On-chain data also supports the bullish outlook after a four-month-long decline.

More MakerDAO News
USDT market cap crosses $120 billion as stablecoins continue their uptrend

USDT market cap crosses $120 billion as stablecoins continue their uptrend

The stablecoin market cap continued its uptrend in October, characterized by USDT reaching a $120 billion market cap, according to a CCData report on Thursday. This indicates that investors are preparing liquidity to fuel more demand.

More USDT News
Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.

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