Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC hints at following ETH’s explosive rally, XRP indecisive

  • Bitcoin price has been trading near the swing low formed after the crash but shows signs of resuscitation shortly.
  • Ethereum price is less than 4% away from retesting its all-time high at $2,548.
  • XRP price shows a lack of bullish momentum as it hovers around a crucial area of interest.

Bitcoin price seems to be coiling up for an upswing as it trades around a crucial support level. Ethereum, on the other hand, has already seen a massive run-up that might retest its local top. Unlike BTC or ETH, XRP shows signs of a drop from a technical perspective.

Bitcoin price awaits volatility

After the recent crash, Bitcoin price set up swing points around $57,000 and $54,400. Since this point, the pioneer cryptocurrency has stuck to this range but is experiencing a minor deviation at the time of writing.

Interestingly, the price action that led to the formation of this spike below the swing low has set up a bullish divergence with the Relative Strength Index (RSI) on the 4-hour chart. 

This technical formation is established when the short-term sellers push the price lower, creating lower lows, while the bullish momentum, as seen on the RSI, sets up higher highs. This divergence forecasts that an upswing will follow.

A decisive close above the 50% Fibonacci retracement level at $55,683 will provide secondary confirmation to this bull rally. In such a case, Bitcoin price will test $56,921, and if the buying pressure persists, $58,488.5.

Under special circumstances, $59,479 might also be tested.

BTC/USDT 4-hour chart

BTC/USDT 4-hour chart

If the buyers fail to keep Bitcoin price above $52,000, a 5% crash will cause the flagship crypto to revisit $50,500. A breakdown of this level might see BTC dip to $49,400.

Ethereum price closes in on all-time highs

Ethereum price has been on a tear since the weekend crash on April 18. The pioneer altcoin has recently sliced through a crucial area of interest that ranges from $2,310 to $2,384, flipping it into a demand zone.

Now, a retest of this level seems likely before ETH retests its all-time high of $2,548.

ETH/USDT 4-hour chart

ETH/USDT 4-hour chart

If the sellers overwhelm the buyers, leading to a 4-hour candlestick close below $2,310, it would question the bullish thesis in play. However, if the smart contracts platform pierces the subsequent demand barrier’s upper layer at $2,230, it would invalidate the bullish case.

Under those circumstances, ETH could slide toward this zone’s lower end at $2,143.

XRP price signals incoming drop

XRP price has depreciated nearly 35% since hitting $1.96 on April 14. The lack of bullish momentum has caused it to slice through a 12-hour demand zone, converting it into an area of resistance.

Hence, the remittance token is likely to continue its descent.

Making matters worse is the recently established bearish pennant pattern on the 4-hour chart signaling a 35% drop to $0.80. While a crash of such an extent is unlikely to happen twice in such proximity, investors should consider a 20% drop to the demand zone that extends from $1.04 to $0.98.

XRP/USDT 4-hour chart

XRP/USDT 4-hour chart

While everything seems to be working against the ascent of XRP price in the short term, a potential spike in bid orders that pushes it above $1.42 will postpone the downswing. However, a solid 4-hour candlestick close above $1.53 will invalidate the bearish thesis and trigger an optimistic scenario for the remittance token that could appreciate its market value to revisit the yearly highs at $1.96.

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.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Cardano Price Forecast: ADA braces for a test of $2 amid a potential bull pennant

Cardano (ADA/USD) is extending its recovery this Sunday after a sharp sell-off witnessed a day before. ADA/USD charts a bull pennant on the 12H chart.  A test of the $2 mark appears inevitable if the bullish pattern is confirmed. RSI has regained upside momentum, well above 50.00.

More Cardano News

XLM Price risks further falls towards $0.53 amid double top reversal

XLM/USD is falling for the third straight day on Sunday. $0.53 support appears at risk after the double top reversal on the 1D chart. RSI points south towards the midline as the XLM price eases from record highs.

More Stellar News

SafeMoon price has additional room to rise after the four-day blistering rally

After a crash witnessed towards the end of last month, SAFEMOON buyers have returned in the first week of May, showcasing a stellar performance. SAFEMOON price looks to the moon after a series of encouraging tweets. 

More SafeMoon News

Ethereum Classic Price Analysis: ETC bides time before the next upswing kicks in

ETC price is stuck in a tight range between two key Fibo levels on the 12H chart. Overbought conditions warrant caution but the coin defends key support so far. Ethereum classic awaits fresh impetus for the next direction.

More Ethereum Classic 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