Predictions for the top three prices Crypto markets cling to the idea of a positive breakout in Bitcoin, Ethereum, and Ripple.
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| Crypto currencies |
Bitcoin's price is stalling as it clings to a key support level, with no signs of turbulence in sight. Ethereum and Ripple are consolidating, following the giant crypto's lead and showing no directional bias.
Bitcoin's price is hesitant to rise.
For nearly two weeks, Bitcoin's price has been stuck around $41,672 and shows no signs of moving away. Before starting a rally, BTC might swing below Monday's low of $39,628.
In this instance, investors might anticipate a run-up in Bitcoin price to the weekly open of $43,096. By overcoming this barrier, BTC will be able to retest the yearly open of $46,224. The major crypto will climb higher and retest the 200-day Simple Moving Average (SMA) at $48,663 in a bullish scenario.
While the Bitcoin price remains indecisive, a four-hour candlestick close below $39,487 indicates that things may be heading down. In this event, BTC would most likely return to the $36,684 support level before resuming its upward trajectory.
The price of Ethereum has re-entered major stumbling blocks.
The price of Ethereum managed to close four daily candlesticks above the weekly support level of $3,061, resulting in a gain of 12%. This uptrend retraced lower after failing to retest the 200-day SMA.
The retreat is currently retesting the same weekly support level, indicating that a move higher is in the cards. ETH will retest the 200-day SMA at $3,484 if it bounces off this barrier quickly. If this barrier is broken, the smart contract token will be able to enter the 2-day supply zone, which ranges from $3,675 to $3,862.
Regardless of the probable bright outlook, if the big coin fails, so will the Ethereum price. If the $3,601 support level is broken, ETH will retest the next barrier at $2,712, where buyers can attempt another upsurge.
A daily closure below this level, on the other hand, will end the bullish thesis and open the door to a drop to $2,440.
The price of ripple is stagnant.
Ripple's price has retested the daily demand zone four times in the last month, ranging from $0.694 to $0.753. Multiple retests have weakened the structure, risking a breakdown, thus XRP price needs to see positive momentum off this barrier.
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| Coins |
Ripple might retest the $0.817 barrier or the 50-day SMA at $0.834 if buying pressure picks up. Any move that goes beyond If Ripple price falls below the mentioned demand zone, it is likely to return to the $0.604 support level. Buyers can band together and make a return in this area. A daily candlestick closure below this platform, on the other hand, will invalidate the bullish thesis by establishing a lower bottom, invalidating the bullish thesis.
In this case, the Ripple price is expected to hit the $0.518 barrier and collect the sell-side liquidity that is trapped beneath it.
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