Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto Risk Appetite Returns As Bitcoin Cuts Through $55,000

It is worth mentioning that an ascending wedge pattern has emerged on the 4-hour chart. This pattern is bearish and usually occurs amid an uptrend. It signifies a weakening bullish momentum characterized by a reducing volume. A trend correction is expected as the pattern matures. Usually, the breakdown is massive and rapid and must accurately be timed.

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ETH/USD 4-hour chart

ETH/USD 4-hour chart

If a correction ensues due to the ascending channel's impact, Ethereum will seek support at $1,700 as highlighted by the 200 Simple Moving Average. If losses continue, the 100 SMA will come in handy at $1,600 and prevent potential declines to $1,400.

Two crucial technical levels define Ripple's future

XRP has consolidated between $0.45 and $0.5 longer than expected. The sluggish price action could give an insight into the hands-off approach Ripple investors are likely to be employing. Note that the company is battling a lawsuit by the Securities and Exchange (SEC) in addition to MoneyGram calling it a day on the groundbreaking partnership.

XRP is in a no-trade zone from a technical perspective, mainly because of the tough resistance at $0.5 and the immense buyer congestion at $0.45. The upper limit is reinforced by the 200 SMA, while the 50 SMA validates the lower limit.

(Click on image to enlarge)

XRP/USD 4-hour chart

XRP/USD 4-hour chart

The Moving Average Convergence Divergence (MACD) reveals that Ripple has a minor bearish divergence. If the support at the 50 SMA caves in, massive losses could occur toward $0.4. However, $0.44 is a buyer congestion zone to watch as it has functioned as support before.

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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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