Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto market remains sluggish, breakout seems imminent

  • Bitcoin rebounded from the support at $14,500 but failed to overcome the hurdle at $15,500.
  • Ethereum recovery from $420 hit a barrier at $460 before consolidation above $450 took over.
  • Ripple price movements limited within the Bollinger bands as sideways price action awaits break out.

The cryptocurrency market was relatively slow-moving over the weekend for most of the digital assets. However, some selected altcoins like Aave sustained the uptrend, as reported earlier by FXStreet. Bitcoin also made a comeback from the support confirmed at $14,500.

On the other hand, Ethereum held over the support at $450, while Ripple was stuck above to $0.25. The rest of the market has remained fairly stable even as the new week trading commences. Consolidation will likely dominate as long as volatility remains reasonably unchanging.

Bitcoin brings stability to the market

Following an impressive week, where BTC achieved a new yearly high, activity has slowed down in the past couple of days. The flagship cryptocurrency is dancing at $15,409 after recovery hit a wall at $15,500.

A reversal seems imminent, as shown by the Relative Strength Index (RSI). However, the low trading volume suggests that price movement will be limited in the near term. In case bears gain momentum and push Bitcoin lower, support is anticipated at the 50 Simple Moving Average in the 4-hour timeframe. Extended losses under $14,000 will seek anchorage at the 100 SMA, while 200 SMA will prevent the break down to $12,000.

BTC/USD price chart

BTC/USD 4-hour chart

The Bollinger bands applied to the same chart illustrate a possible breakout in the coming sessions. The constriction that is starting to form suggests that volatility will decrease significantly before surging. If the price holds above the Bollinger band middle boundary, then there is a likelihood of the price shooting upwards to trade new yearly highs above $16,000.

BTC/USD price chart

BTC/USD 4-hour chart

Ethereum holding firmly to crucial support

Ethereum almost touched $450 as it continued with last week’s breakout in the early hours of Saturday 7. However, bears swung into action and forced Ethereum to support at $420. The tug of war continued with bulls lifting the smart contract token to $460 before settling above $450.

At the time of writing, Ether is dancing at $451 amid a subtly developing bearish momentum. Despite the bearish outlook, consolidation will likely take precedence. The sideways price action has also been highlighted by the Moving Average Convergence Divergence (MACD) as it levels slightly above the midline.

ETH/USD price chart

ETH/USD 4-hour chart

A symmetrical triangle pattern points towards a possible breakout. If a reversal above the pattern, ETH/USD could resume the uptrend eyeing $490 and $500, respectively.

On the flip side, price action below the triangle could lead to losses that will refresh the buyer congestion at $420 and $400. It is worth noting that the cryptoasset is still in the hands of the bulls due to the golden cross pattern formed by the 50 SMA crossing above the 100 SMA.

Ripple consolidates ahead of breakout

Ripple is holding firmly to the support at $0.25 after encountering acute resistance at $0.26. The selling pressure emanated from the 100 SMA in conjunction with the Bollinger band upper boundary. However, XRP’s immediate downside is protected by the middle curve of the Bollinger bands.

Besides, the RSI confirms the ongoing sideways trading by holding steadily above the midline. If buyers regain control over the price and step above $0.26, XRP might start the final journey to $0.3. On the downside, the 50 SMA adds weight to the immediate support; hence it is doubtful that a breakdown will occur towards $0.22.

XRP/USD price chart

XRP/USD 4-hour chart

On the other hand, declines will come into the picture if the 50 SMA support is broken. The buyer congestion at $0.24 might not be strong enough to hold XRP from plunging further. Therefore, the most prominent support is $0.23, while dire losses will seek to rebound at $0.23.





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 targets 900% bull rally, but it must clear $0.33 first

Cardano had a significant rally towards $0.355 at the beginning of 2021. After a notable dip to $0.228, bulls bought it and managed to push Cardano price to $0.33 again before a small rejection.

More Cardano News

Ethereum price aims to flush out doubters before the ultimate breakout to $2,000

Ethereum bulls bought the dip on January 11, pushing the digital asset from a low of $915 towards $1,256. The smart-contracts giant has been outperforming Bitcoin in the past 24 hours despite the negativity seen on social media.

More Ethereum News

XLM Price Prediction: Stellar consolidates ahead of a 30% move

XLM price trades at $0.291 at the time of writing after a healthy consolidation after hitting a 2021-top at $0.411. There is a high chance that XLM is about to see a massive breakout or breakdown within the next 24 hours.

More XLM News

Bitcoin Weekly Forecast: BTC price faces extreme volatility ahead of a new all-time high

Bitcoin had a wild run this week, dropping from a high of $41,350 to a low of 30,420 in less than 48 hours. The panic sell-off was stopped on its tracks at the 26-EMA on the daily chart as bulls quickly bought the dip and created a V-Shape recovery pushing BTC towards $40,100 again. 

More Bitcoin News


Bitcoin Weekly Forecast: BTC price faces extreme volatility ahead of a new all-time high

Bitcoin had a wild run this week, dropping from a high of $41,350 to a low of 30,420 in less than 48 hours. 

Read the weekly forecast