- Bitcoin price starts its journey to $50,000 or higher after fumbling at the start of the week.
- Ethereum price eyes retest of the $4,500 barrier but bulls look to revisit the $4,788 resistance level.
- Ripple price needs to slice through the $0.83 hurdle to tag the $1 psychological barrier.
Bitcoin price has recently recovered above a crucial barrier, alleviating any signs of a short-term bearish outlook. Going forward, investors can expect BTC to climb and retest critical levels, allowing Ethereum and Ripple to do the same.
Bitcoin price eyes higher high
Bitcoin price slipped below the $48,326 support floor on December 13 and consolidate below it for quite some time. Although this week started out weak, things have been picking up, especially, with BTC moving above the $48,326 hurdle.
If the big crypto solidifies its position above this barrier, investors can expect a 7.5% upswing to $51,991. In a bullish case, the market makers might propel BTC to collect the liquidity resting above $55,839 or $57,845.
BTC/USD 4-hour chart
On the other hand, if Bitcoin price fails to sustain above $48,326, it will retrace to the $46,660 support level. If the bears push BTC to produce a lower low below the December 13 swing low at $45,750, it will invalidate the bullish thesis.
Ethereum price attempts to restart is rally
Ethereum price sliced through the $3,912 support floor on December 13 as a result of the big crypto’s collapse. Since then, ETH has been moving sideways below this barrier. The recent run-up was not enough to retest the said level. If Ethereum price manages to flip this hurdle into a support floor, it will signal the resurgence of buyers and likely trigger a 14% ascent to $4,443 or the $4,500 whole number.
If the bullish momentum persists, ETH could extend this leg-up and retest the $4,788 swing high and collect liquidity restinga above it.
ETH/USD 4-hour chart
While things are looking up for Ethereum price, a breakdown of the $3,669 swing low will create a lower low, invalidate the bullish thesis. In such a case, ETH could retrace to $3,415 support level.
Ripple price has good intentions but struggles
Ripple price has been stuck on a downtrend since November 10. Some of the swing highs can be connected using a trend line to show a declining resistance barrier is preventing XRP price from rising higher.
Couple with the $0.837 resistance barrier, a move higher seems unlikely for the remittance token. If the bulls band together and flip this hurdle into a support floor, it will signal a breakout. A four-hour candlestick close above $0.837 will signal n uptrend and trigger a 12% ascent to $0.936.
In a bullish case, XRP price could also retest the $1.01 resistance barrier, representing a 21% gain from the $0.837 point.
XRP/USD 4-hour chart
Regardless of the optimism, if Ripple price fails to climb above the $0.837 hurdle, it will likely head lower and revisit the $0.749 support floor. However, a decisive close below $0.749 will create a lower low, invalidate the bullish thesis.
This move could trigger a 19% crash to $0.603.
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