Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC presents the ultimate test of patience

  • Bitcoin price remains within a bind, sliding horizontally as bulls take the back seat.
  • Ethereum price is slowly grinding up against BTC while consolidating in this giant falling wedge.
  • Ripple price coils up for a 10% breakout to $0.000028, but early profit takers could change the narrative.

Bitcoin (BTC) has continued to move within a bind for almost six weeks now, a lack of volatility that has exhausted investors' patience. The drag has extended to altcoins, with Ethereum (ETH) and Ripple (XRP) prices not showing much activity either.

Also Read: Bitcoin Weekly Forecast: Can BTC reach $40k or $25k first?

Bitcoin price continues to drag

Bitcoin (BTC) is moving horizontally, under the foothold of the 50-day Exponential Moving Average (EMA) at $29,352. This comes after BTC bounced off from the immediate support at $28,930 to continue in the multi-week consolidation between $31,462 and the aforementioned level.

Failure to flip the 50-day EMA at $29,352 into support could see Bitcoin price slide lower to lose the support offered by the $28,930 level. Such a move would give bears control over Bitcoin price, potentially causing a prolonged slump toward the 100-day EMA at $28,417.

In a highly bearish case, BTC could extend a leg south to breach the support offered by the uptrend line. Such a move would spell doom for Bitcoin price, first invalidating the bullish outlook the clearing the clog for possible retest of the $26,000 range.

The bearish outlook is bolstered by the Relative Strength Index (RSI) below 50 and the Awesome Oscillators in the negative zone, suggesting bears are leading the market.

BTC/USDT 1-Day Chart

On the flip side, if buying pressure increases above the $28,930 support level, Bitcoin price could continue north, first flipping the 50-EMA hurdle into support before reaching higher. A decisive daily candlestick close above the $31,462 barricade would clear the path north, potentially marking a new range high.

Also Read: Bitcoin halving could pump investors' bags, but a gloomy future awaits BTC miners.

Ethereum price grinds up against BTC

Ethereum (ETH) price is edging north against Bitcoin on the ETH/BTC 1-day chart after a progressive consolidation within a falling wedge pattern. Lower highs and lower lows characterize this bullish technical formation as bulls give way to the bears. As the price bounces from the lower boundary of the chart pattern, the right amount of buyer momentum could see ETH breakout and confirm the pattern.

A decisive daily candlestick close above $0.070 levels would confirm an uptrend, which was last seen on June 5. Such a move would denote a 10% climb from the current level.

Momentum indicators such as the RSI and AO both favor the bulls, as the RSI is tipping north to show rising momentum, while the AO is positive to show that bulls are leading the market.

ETH/BNB 1-Day Chart

On the other hand, if profit takers start cashing in, the current uptrend would be interrupted. The subsequent selling pressure could see the PoS token approach the immediate support at $0.061.

In the dire case, the Ethereum price could extend a leg south to tag the lower boundary of the pattern. A stretch below this level could spell doom for ETH holders.

Also Read: OP threatens ARB in daily users for the first time as L2 wars for the best Ethereum Layer 2 intensify.

Ripple price coils up for a breakout

Ripple (XRP) price is trading with a bullish bias, steadily pulling north after finding support at $0.676. With the position of both momentum indicators favoring the bulls, XRP could soon reclaim the range high at $0.826.

The three EMAs pointing north suggest it is the path with the least resistance, further tipping the odds in favor of the bulls.

XRP/USDT 1-Day Chart

The histograms of the AO flashing red and their volume decreasing show that bears are gaining ground. If they manage to overpower the bulls, Ripple price could pull south. Losing the immediate support at $0.676 could threaten the July 13 gains, but the real danger would be a successful flip of the 50-day EMA support at $0.604 into a resistance level. 

Also Read: XRP retail holders made biggest winners from Torres' decision, technology policy expert says

Like this article? Help us with some feedback by answering this survey:

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

Recommended Content

Editors’ Picks

Ethereum ETF issuers file updated drafts, ETH staking still a possibility

Ethereum ETF issuers file updated drafts, ETH staking still a possibility

Ethereum (ETH) is down 1% on Wednesday as issuers began filing their final spot ETH ETF S-1 drafts with the Securities & Exchange Commission (SEC) in anticipation of a launch on July 23. Meanwhile, SEC commissioner Hester Peirce also said the regulator may reconsider its position on ETH staking within the ETFs.

More Ethereum News

Could Vitalik Buterin's argument affect support for pro-crypto political candidates?

Could Vitalik Buterin's argument affect support for pro-crypto political candidates?

Vitalik Buterin released a post arguing that politicians who claim to be crypto-friendly now may not support it in the future. Buterin highlighted many key factors that crypto represents beyond trading tokens. Intentions of pro-crypto politicians are becoming the subject of debate following Buterin's post.

More Cryptocurrencies News

Dogecoin provides opportunity for investors to ride potential 40% rally

Dogecoin provides opportunity for investors to ride potential 40% rally

DOGE has maintained price patterns similar to BTC, ETH, and SOL. The popularity of other newer meme coins may be drawing attention away from DOGE. DOGE on-chain metrics and technical indicators suggest a rally may be on the horizon.

More Dogecoin News

AI tokens rally following Grayscale's Decentralized AI Fund launch

AI tokens rally following Grayscale's Decentralized AI Fund launch

Grayscale launched its Decentralized AI Fund on Wednesday, allowing investors to gain exposure to the price of AI-focused cryptocurrencies. Following the announcement, the general market cap of AI tokens rose by nearly 4%.

More Cryptocurrencies News

Bitcoin: Investors wonder if BTC troubles are behind

Bitcoin: Investors wonder if BTC troubles are behind

Bitcoin (BTC) stabilized around the $57,000 mark this week, while the German Government persists in transferring Bitcoin to exchanges. Concurrently, US spot Bitcoin ETFs have recorded inflows.

Read full analysis