Bitcoin Price Analysis: BTC bulls have reasons to keep 24,000 on radar
BTC/USD prints 1.0% intraday gains while flashing 23,695 as a quote during early Monday. In doing so, the crypto major reverses the pullback moves from the latest record high of 24,300 while bouncing off 23,110 off-late.
Although overbought RSI conditions warn bulls, a sustained upside break of the 2017 peak, as well as an upward sloping trend line from June 2019, keeps the pair buyers hopeful.
As a result, BTC/USD bulls might not hesitate to eye the 30,000 psychological magnet as an immediate target ahead of moving on to the more strong fundamental hints of the 100,000 landmark.
Ripple Price Prediction: XRP to target $0.66 with a daily close above $0.59
After closing the first two days of the week in the negative territory, Ripple rose sharply and touched its highest level in three weeks at $0.6585 on Thursday. However, XRP struggled to preserve its bullish momentum and went into a consolidation phase over the weekend. As of writing, Ripple was virtually unchanged on the day at $0.5760 and was gaining more than 12% on the week.
The Fibonacci 23.6% retracement of the bull run that saw Ripple price jump from $0.28 to $0.78 in a week in mid-November is currently located at $0.59. Although XRP rose above that level on Friday and Saturday, it failed to make a daily close there. If Ripple manages to flip that resistance into support, it could target the Next Fibonacci retracement, 23.6%, at $0.66.
Ethereum Price Prediction: ETH aims for $800 while FOMO kicks in
While Ethereum price has been appreciating against the dollar, no significant growth has been made when measured against Bitcoin because the flagship cryptocurrency has stolen the spotlight over the past few weeks.
Ethereum price stalls in gaining ground against Bitcoin
Ethereum has been performing well against the dollar, but when considering its price action against Bitcoin, the token of the smart contracts has remained stagnant.
Skew, a cryptocurrency data analytics provider, reveals that the ETH/BTC trading pair has been steadily declining since September 20. Since then, Ethereum price dropped below 3% as a percentage of Bitcoin price.
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
Editors’ Picks
Ethena plans to leverage USDe to integrate DeFi, CeFi and traditional finance
Ethena (ENA), a protocol developed on the Ethereum blockchain offering a synthetic stablecoin (USDe) that operates across various DeFi applications, announced on Friday that itsUSDe will integrate DeFi, CeFi and traditional finance as part of its 2024 roadmap.
XRP hovers above $0.50 as Ripple joins alliance to simplify recovery of digital assets
XRP trades around $0.5174 early on Friday, wiping out gains from earlier in the week, as Ripple announced it has joined an alliance to support digital asset recovery alongside Hedera and the Algorand Foundation.
Toncoin price surges as Notcoin gains attention across the crypto community
TON saw a brief rally on Thursday following a recent announcement that Binance and OKX will launch Notcoin (NOT) as the newest token on the Binance launchpool and the OKX Jumpstart.
AI crypto coins rally ahead of ChatGPT creator OpenAI plans to announce Google search competitor on Monday
Barely before the hype around NVIDIA stock gain is over, AI crypto tokens have another bullish catalyst coming their way, which could provide more tailwinds to drive the price of the sector’s tokens.
Bitcoin: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.