Top 3 Price Prediction: Bitcoin, Ethereum, Ripple: Who will catch the falling knife?


  • Bitcoin price fell below $20K over the weekend but quickly recovered as bears take a break.
  • Ethereum price revisits historical indicator lows.
  • Ripple price could induce a rally towards $0.40 if the $0.34 resistance level is successfully hurdled.

The crypto market is dependent on Bitcoin’s survival. The possibility of a market reversal is still valid.

Bitcoin price is at a fork in the road

Bitcoin price currency trades at $20,646. The bulls are struggling to claim grounds on the 200-week moving average. An Elliot wave trend channel lies within the vicinity of the current market value price, which signals optimism as the first engagement is being witnessed on the 4-day chart. The Relative Strength Index revisits four-year lows and has subtle space to move lower, confirming that BTC price could fall into 2017 highs at $19,666. 

Invalidation of the downtrend is a breach of $30,500. If this bullish event occurs, the bulls could push for new all-time high targets in the $80,000 range resulting in a 300% increase from the current Bitcoin price.

tm/btc/6/17/22

BTC/USDT 4-Day Chart

Ethereum price needs to recover soon 

Ethereum price revisits historical RSi low last touched in $2018 when Ethereum traded at $81 on the 4-day chart. Ethereum price currency trades at $1,076. The anomalous indicator reading warrants significant belief that reversal could occur. Still, if the bulls have failed to rally support from the 200-week moving average, if they do not find support soon, a three-digit Ethereum will likely occur, targeting $800.

Invalidation of the bearish trend lies at $1760. If the bulls can accomplish this hurdle, new all-time highs in the $5,000 zone will be a confident target, resulting in a 365% increase from the current Ethereum price.

tm/eth/6/17/22

ETH/USDT 4-Day Chart

Ripple price could see a change in the trend 

Ripple price is in a make-or-break decision as talks of an SEC settlement continue to linger within the market sentiment. A delayed hearing could be the catalyst to enable Investors to lessen their load. XRP seems to correlate with Bitcoin price and could continue moving lower towards $0.25 if market conditions persist. 

Xrp price still trades within wave four territory, keeping the bearish trend intact. However, a simple breach of $0.34 could invalidate the downtrend and trigger a rally back into $0.40, resulting in a 25% increase from the current XRP price.

tm/xrp/6/17/22

XRP.USDT 9-Hour Chart

 


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

Is Altcoin Season here as Bitcoin reaches a new all-time high?

Is Altcoin Season here as Bitcoin reaches a new all-time high?

Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.

More Altcoin News
Shanghai court confirms legal recognition of crypto ownership

Shanghai court confirms legal recognition of crypto ownership

A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.

More Cryptocurrencies News
BTC hits an all-time high above $97,850, inches away from the $100K mark

BTC hits an all-time high above $97,850, inches away from the $100K mark

Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.

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: New high of $100K or correction to $78K?

Bitcoin: New high of $100K or correction to $78K?

Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.

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