Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC anticipates reversal as altcoins wait patiently

  • Bitcoin price is close to setting up an equal low or a lower low, which could kick-start the run-up to $40,000.
  • Ethereum price has sliced through an immediate demand zone and might sweep below $2,000.
  • Ripple price is holding steady, awaiting a surge in bullish momentum to propel it higher.

Bitcoin price is currently retracing after a failed attempt at an upswing. This downswing has forced many altcoins to tumble.

As BTC pulls back, an equal low or a lower low will likely be formed around the July 9 swing low. This development is significant and will allow the flagship cryptocurrency to kick-start an upswing.

Bitcoin price searches for a platform

Bitcoin price is on the lookout for a foothold that will propel it higher. The demand zone extending from $30,573 to $31,979 is a likely candidate that will serve as a launchpad. Assuming BTC dips into this area, it might trigger massive buying pressure that propels BTC higher.

The midpoint of the range at $35,618 will be the first resistance barrier the bulls encounter. Breaching through this barrier will allow BTC to tag the subsequent levels at $36,600, $39,146 and $40,516.

In a highly bullish case, the pioneer cryptocurrency might tag the range high at $42,451.

BTC/USDT 9-hour chart

BTC/USDT 9-hour chart

If Bitcoin price slices through the demand zone ranging from $30,573 to $31,979, it will denote the presence of sellers. While this move is a bearish development, a breakdown of the $30,000 support level will invalidate the bullish thesis and trigger a descent to the range low at $28,785.

Ethereum price continues to slide lower

Ethereum price broke out of a rising wedge pattern on July 8 and has dropped 14% so far. This sell-off sliced through an intermediate demand zone, stretching from $2,041 to $2,106 and pierced the support level at $2,018.

ETH will likely tag $1,909, the theoretical target for the rising wedge technical formation if the selling pressure continues.

Therefore, investors can expect Ethereum price to restart the upswing at its current position at $1,909, the demand barrier.

The upswing will face significant resistance at $2,297, the midpoint of the training range. Following a breach of this level, ETH bulls might propel it to $2,460, $2,640 and, in a highly bullish case, the range high at $2,897.

ETH/USDT 4-hour chart

ETH/USDT 4-hour chart

Conversely, if Ethereum price slices through $1,909 and fails to climb past it, it will signify a surge in sellers. Therefore, investors need to expect a downswing that retests the range low at $1,699.

A breakdown of this barrier will end the optimistic scenario detailed above and trigger a crash to $1,438.

Ripple price shows strength

Ripple price is holding up despite the decline in Bitcoin price. XRP price sliced through the 50% Fibonacci retracement level at $0.647 briefly, setting up a higher high that suggests bulls are in town.

Now, while the general cryptocurrency market is heading lower, Ripple price is trying to scale higher in an attempt to produce a decisive 4-hour candlestick close above $0.647.

If this were to occur, it would signal the start of an uptrend that is taking a jab at breaching the higher probability reversal zone that extends from $0.680 to $0.727.

Considering how BTC price is setting up for a move to $40,000 or higher, XRP price could retest the range high at $0.785 in a highly bullish case.

XRP/USDT 4-hour chart

XRP/USDT 4-hour chart

The optimistic scenario is based on the assumption that XRP price slices through the range’s midpoint at $0.647. If the sellers overwhelm the buyers, leading to a rejection here, the remittance token is likely to head lower and retest the immediate support levels at $0.581 or $0.568. 

This downward move might briefly hinder or delay the upswing, but a breakdown of $0.547 will invalidate the bullish thesis and potentially trigger a 7% crash to the range low at $0.509.

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.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Experts say Ripple will win SEC lawsuit, which might propel XRP to new all-time highs

Since XRPArmy and lawyers in the crypto ecosystem consider the US Securities & and Exchange Commission’s (SEC) move to pull documents out of public view as evidence that the case is coming to a close, a Ripple win appears more likely.

More Ripple news

Bitcoin Weekly Forecast: BTC must hold $45K to target new all-time highs

Bitcoin price is on a rollercoaster ride as it crashed violently on September 7, consolidated for a few days after that and went on an uptrend to undo the losses. Over the past 24 hours, however, BTC seems to be consolidating for a volatile move without a clear directional bias.

More Bitcoin News

Chiliz price to retrace before CHZ runs up

Chiliz price is stuck in a tight consolidation above a crucial support floor and shows no signs of recovering from this slump. In fact, CHZ might retrace lower before heading on an uptrend.

More Chiliz News

ICX Price Prediction: ICON prepares for 20% descent as bulls fade away

ICON price looks ready for a swift downswing after an explosive run over the past ten days. The crypto markets’ slowdown after the recent run-up makes this bearish scenario a perfect fit. Going forward, investors can expect ICX to head lower and retest stable support barriers.

More Cryptocurrencies News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast