Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin Swings Toward $40,000, Teasing Another Crypto Bull Run

The cryptocurrency market green after a small correction, at least for selected cryptocurrencies. For instance, Bitcoin is currently trading above $35,000 after a steady but gradual rise from the support at $32,000.

Ethereum is up a swooping 9% on the day after reclaiming the ground above $1,400. Similarly, Cardano has exploded 18% to trade at $0.41. Selected tokens in the decentralized finance sector like SushiSwap are performing incredibly well. On the other hand, Ripple leads among the daily losers, incurring more than 40% in losses.

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Bitcoin rebounds towards $40,000

Bitcoin was stuck under the 200 Simple Moving Average since it bounced back from the support at $32,000. However, as discussed on Monday, a daily close above $34,000 and price action past the 200 SMA would boost the largest cryptocurrency towards $40,000.

At the moment, all eyes are focusing on the next hurdle at $36,000. Note that a consistent price rise would encourage more investors to join the market as buyers increase their positions. If enough tailwind is created behind BTC, a final leg to $40,000 will likely materialize.

The Moving Average Convergence Divergence supports the bullish narrative. Buying pressure is bound to increase if the MACD line (blue) increases the divergence above the signal line.

(Click on image to enlarge)

BTC/USD 4-hour chart

BTC/USD 4-hour chart

Realize that failure to close the day above $36,000 would result in a rise in overhead pressure. The gains accrued on the day would be erased, leaving the tentative support at the 200 SMA and $34,000 in jeopardy. Further down, losses are likely to retest the recent anchor at $32,000.

Ethereum prepares for massive upswing to $1,850

Ethereum is back to trading between $1,400 and the record high at $1,481. On the downside, immense support has been established at $1,300, highlighted by the 100 SMA. Another essential support zone that has been critical to the ongoing recovery is the 200 SMA at $1,200.

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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 ...

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