Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin Back In The Game, Crypto Market Bull Run Still In Play

The 50 SMA protects the immediate downside, preventing bears from gaining momentum and causing damage to the progress made since the crash on November 26. A break above the triangle's x-axis will call for gains to $700, perhaps catapulting Ethereum into trajectory eyeing $1,000.

(Click on image to enlarge)

ETH/USD 4-hour chart

ETH/USD 4-hour chart

Ethereum's uptrend will be sabotaged if bulls lose the ground above the 50 SMA. Besides, trading under the ascending trendline would be a bearish signal, calling the sellers to increase their entries.

The short-term price analysis is bearish, as seen with RSI's dip to the midline. The next support at $575, as highlighted by the 100 SMA, may be tested before completing the bearish leg to the 200 SMA.

Ripple price action remains numb ahead of a breakout

XRP is trading at $0.61 after holding above $0.60 during the weekend session. The mundane price action has brought indecisiveness in the market – the 50 SMA limits Ripple's upside. The cross-border token must close the day above this crucial level.

On the other hand, the Relative Strength Index and the Bollinger Bands endorse the consolidation. However, the more the bands squeeze, the faster a breakout will come into the picture. Several resistance zones might slow down the upswing, including $0.65, $0.7 and $0.75.

(Click on image to enlarge)

XRP/USD 4-hour chart

XRP/USD 4-hour chart

On the other hand, a breakdown will be confirmed if XRP closes the day beneath the 50 SMA. Selling volume is likely to increase from this level, pushing Ripple further down.

If declines overshoot the anchor at the 100 SMA, XRP/USD might be forced into a length downtrend. Other support levels to keep in mind include $0.45, the 200 SMA and $0.3.

1 2
View single page >> |

Disclaimer: 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 ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.