Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto bulls to retain control


  • Crypto markets look to extend the recovery momentum ahead.  
  • Ethereum steals the show among the top 3 widely traded coins on the week.

The world’s no. 1 digital coin, Bitcoin, is seen consolidating its latest uptick to near 7,500 mark, as we head towards the weekly closing. Ethereum and Ripple follow suit and post mild gains so far this Sunday, with the latter emerging as the main laggard amongst the top 3 most favorite digital assets. The total market capitalization of the top 20 cryptocurrencies now stands at $198.43 billion, as cited by CoinMarketCap.

The top three coins are seen extending Friday’s bullish reversal into a fresh week ahead, with key supports and resistances found below, as highlighted by FXStreet’s Confluence Detector tool.

BTC/USD: Bullish bias intact with strong supports stacked up

As explained here, Bitcoin is bidding up for a break above the $ 7,500 mark, with a break above the last likely to be challenged near 7,525 region, where the Previous Week High and Pivot Point 1D R3 intersect.

The coin will accelerate its bullish momentum once the above resistance is clear, as all eyes remain on the 8k threshold amid a lack of relevant resistances on the north run.

Having said that, the path of least resistance remains to the upside, as a number of strong support levels are stacked up should the bears fight back control. The immediate support awaits at 7,370, the confluence of Fib 38.2% 1D, Fib 23.6% 1W, SMA50 1D and SMA10 4H.

Further down, the Fib 61.8% 1M and Fib 38.2% 1W confluence at 7,293 could slow the pace of declines towards the 7,216.50 area, where SMA10 1D, SMA200 1H and SMA200 4H coincide.  

ETH/USD: Bulls need to chew offers just above 137.00 for further upside

Ethereum has stalled its recovery, as it faced rejection ahead of the 137 handle (daily highs) earlier this Sunday. If the price finds renewed buying interest, the bulls are likely to retest the higher levels above the 137 level, with the next significant resistance seen at 138.30, the confluence of Bollinger Band 4H Upper, Fib 161.8% 1D and Previous Week High.

A sustained break above the last will intensify the upbeat momentum towards the 140 handle, Fib 61.8% 1M.

To the downside, strong support near 134.10 is likely to restrict the corrective move lower. That level is the intersection of the Previous Low 1D and Fib 38.2% 1W.  A break below the last will open floors for a test of 131.28 demand zone, the confluence of SMA10 1D, Fib 38.2% 1M and Fib 61.8% 1W.  

XRP/USD: Path of least resistance is to the upside

Ripple failed once again near 0.1950 resistance area but the price still retains the upside bias heading into a fresh week. The bulls are likely to face some challenges, as a slew of minor resistances are stacked up between the 0.1951 and 0.1981 on its run higher.

However, if the No. 3 coin manages to surpass the aforesaid cluster of resistances, a test of the 0.2000 handle is inevitable amid a favourable technical set up.

On the flip side, the 0.1930-0.1920 area continues to cushion the downside, as the SMA100 1H, Fib 38.2% 1D, SMA200 1H and Bollinger Band 1D Middle all collide there.

A failure to resist the last, the bears would test the next support around 0.1900 mark, the intersection of the Pivot Point 1D S3 and Fib 61.8% of the weekly price action.

See all the cryptocurrency technical levels.

 


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.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

PancakeSwap loses nearly 3% value intraday as the DEX crosses $1 billion in trade volume

PancakeSwap loses nearly 3% value intraday as the DEX crosses $1 billion in trade volume

Decentralized exchange (DEX) PancakeSwap (CAKE) announced in an official tweet that it has crossed $1 billion in trade volume on the Layer 2 chain, Base. CAKE on-chain metrics support the thesis of a recovery in the DEX token’s price. 

More Cryptocurrencies News

Shiba Inu hits new milestone, over $9 billion worth of SHIB tokens burnt

Shiba Inu hits new milestone, over $9 billion worth of SHIB tokens burnt

Shiba Inu (SHIB), the second-largest meme coin in the crypto ecosystem, recently hit a milestone in the volume of tokens burned. Shiba Inu has burnt over 410.72 trillion SHIB tokens since the inception of the burn mechanism in the project, worth over $9 billion.

More Shiba Inu News

Dogwifhat crashes 60%, but here's why you should not buy WIF yet Premium

Dogwifhat crashes 60%, but here's why you should not buy WIF yet

Dogwifhat (WIF) price shows a slowdown in the bearish momentum as it sets up a potential range. This development could lead to a good buying opportunity from a long-term perspective. 

More Dogwifhat News

XRP struggles to overcome $0.50 resistance, SEC vs. Ripple could enter final pretrial conference

XRP struggles to overcome $0.50 resistance, SEC vs. Ripple could enter final pretrial conference

XRP is struggling with resistance at $0.50 as Ripple and the US Securities and Exchange Commission (SEC) are gearing up for the final pretrial conference on Tuesday at a New York court. 

More Ripple News

Bitcoin: BTC’s rangebound movement leaves traders confused

Bitcoin: BTC’s rangebound movement leaves traders confused

Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established. 

Read full analysis

BTC

ETH

XRP