Top 3 price prediction Bitcoin, Ethereum, Ripple: Crypto markets falter, calls for a catalyst

Bitcoin (BTC) price has taken a breather after a weeklong downtrend as a key supplier congestion zone comes into play to offer support. Ethereum (ETH) price is consolidating within a narrow range as bearish pressure builds. However, the general outlook hints at a possible recovery. Ripple (XRP) price is consolidating within a symmetric triangle, with the pressure build-up suggesting a possible breakout soon. The skeptical outlook comes as investors consider the varying regulatory environments in the US and Europe amid a lack of data.

Bitcoin price finds support

Bitcoin price appears to have suspended its downtrend after the 50-day Exponential Moving Average (EMA) broke its fall. BTC continues to hold above $27,282 as the bull v bear confrontation continues. Whoever takes the day depends on the next catalyst in the market, which could inspire a directional bias.

The support offered by the 50-day EMA comes as BTC leverages this supplier congestion zone where a new cohort of bulls, presumably those who were sidelined in the previous rally, seems to be entering the market. An increase in buyer momentum above this level could send Bitcoin price toward the critical resistance at $28,881 or, in the highly bullish case, reclaim above $30,000 by tagging the psychological $30,468 barricade on April 15.

BTC/USDT 1-day chart

Conversely, waning buying pressure could see bears overpower the bulls and drag Bitcoin price down to the immediate support at $26,555. A breakdown below this level could invalidate the short-term bullish outlook.

Also Read: Bitcoin bull trap or upcoming BTC price rally: Experts decode on-chain metrics

Ethereum price could stage a recovery soon

Ethereum price consolidates tightly in an overall bearish trajectory characterized by lower highs and lower lows. Despite the bearish outlook, the pressure build-up suggests ETH could break out soon.

This claim draws support from the Relative Strength Index (RSI), which had just been called a buy signal when it crossed above the Stochastic RSI. Traders heeding this call could inspire a correction, commissioning ETH to a northbound move.

If sidelined investors join in, Ethereum price could increase toward the $1,889 resistance level or reclaim the Friday highs around $1,964. The largest altcoin could tag the $2,012 hurdle in highly bullish cases.

ETH/USDT 4-hour chart

On the other side, an increase in selling pressure could see Ethereum price drop toward the immediate support at $1,753.

Also read: Ethereum price presents traders opportunity to long ETH to $2,000

Ripple price readies for a breakout

Ripple price continues within a symmetrical triangle, consolidating within a tight range trapped between the descending and ascending trendlines. This price action indicates an incoming trend reversal that could see XRP break above or below the governing chart pattern. The next direction of the breakout can only be determined once the break has occurred.

The target of the breakout is estimated by measuring the widest distance of the symmetrical triangle and applying this to the breakout point.

A break above the symmetrical triangle could see Ripple price rise 5% to $0.48.Higher, the remittance token could ascend to tag the $0.52 resistance level or, in highly bullish cases, hit $0.55.

XRP/USDT 12-hour chart

On the flipside, a break below the chart pattern could see the Ripple price tag at $0.43.

The general outlook in the crypto market indicates a delay in price movement, and a catalyst could play a big role in influencing a directional bias. 

Also Read: Ripple price underpinned as bulls target jump back above $0.50 as short-term target