Top 3 price Prediction Bitcoin, Ethereum, Ripple: Ethereum on threshold for 15% upswing

  • Bitcoin jumpstarts the uptrend after support at $43,000 and a technical pattern breakout.
  • Ethereum leads recovery among the altcoins, aiming for the resistance at $1,650.
  • Ripple is pivotal at the 23.6% Fibonacci level on the 4-hour chart.

The weekend session was not yielding for many cryptocurrencies, including Bitcoin, Ethereum, and Ripple. Besides, the majority of the cryptoasset spiraled further, continuing with last week's bearish impulses.

Bitcoin failed to hold above the support at $45,000 and extended the bearish leg to $43,000. The largest altcoin, Ethereum, sliced through the support at $1,400 and explored the levels marginally below $1,300. On the other hand, XRP revisited the support at $0.4 before renewing the uptrend toward $0.5.

The rest of the cryptocurrency market is flipping bullish, particularly led by altcoins such as Binance Coin (up 19%), Aave (up 20%), Solana (up 19%), Maker up (18%), Fantom (up 32%) and Ravencoin (up 20%).

Bitcoin breakout aims for $54,000

Bitcoin is nurturing an uptrend after the formation of a falling wedge pattern on the 4-hour chart. The bullish pattern comes into the picture when an asset's persistent downtrend nears the end. It is created using two trendlines connecting consecutive declining peaks and a series of lower lows.

As the price nears the pattern's apex, the volume reduces, limiting the bears' effort. At the same time, buyers get ready to take control. A breakout usually happens before the trendline meet.

Bitcoin has already broken above the upper trendline, validating a 16% upswing to $54,000. This bullish outlook has been reinforced by the Moving Average Convergence Divergence (MACD), recently flipped bullishly.

BTC/USD 4-hour chart

BTC/USD 4-hour chart

It is worth mentioning that resistance is expected at the 100 Simple Moving Average (SMA), currently at $49,440, and the 50 SMA holding at $50,000. If bulls fail to break above this level, a correction may take precedence toward $43,000.

Ethereum primed for a 15% breakout

Ethereum has formed the same falling wedge pattern as Bitcoin, pointing at a 15% upswing to 1,650. At the time of writing, Ether is exchanging hands at $1,522 as bulls challenge the overhead pressure at $1,530.

The Relative Strength Index (RSI) reveals that the trend is in the bulls' hands after stepping above the midline. Moving closer to the overbought area may trigger more buy orders, perhaps create enough volume for gains eyeing $2,000. On the upside, a bullish signal will be to trade beyond $1,530 (immediate resistance) and extending the up leg past $1,600.

ETH/USD 4-hour chart

ETH/USD 4-hour chart

On the other hand, it is essential to keep in mind that Ethereum must establish support above $1,500 to avoid potential losses. On the downside, the next tentative support is $1,400, but if the bearish leg stretches, ETH will retest $1,200.

Ripple flirts with the 23.6% Fibonacci

The cross-border token deals with the resistance at the 23.6% Fibonacci retracement level following a rebound from $0.4. Trading beyond this zone leaves XRP with open-air to explore toward the critical hurdle at $0.47, a confluence highlighted by the 38.2% Fibo, the 200 SMA, and the 100 SMA.

The MACD cements XRP's gradual bullish momentum as it moves closer to the mean line. Besides, the MACD line (blue) has crossed above the signal line, signaling a bullish impulse.

XRP/USD 4-hour chart

XRP/USD 4-hour chart

Ripple will abandon the bullish narrative if the resistance at the 23.6% Fibo fails to give way. Closing the day under this zone could open the Pandora box as massive sell orders are triggered. Testing the support at $0.4 again could pave the way for another downswing, eyeing $0.35 and $0.3, respectively.

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.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Shiba Inu price looks south towards $0.0000060 as technicals favor SHIB bears

Amidst an underlying downbeat mood across the crypto market, Shiba Inu extends the bearish momentum into the third straight day on Sunday. The tide is seen turning in favor of SHIB bears once again, as well depicted by Shiba Inu’s daily technical graph, with the market licking its wounds from the China-led blow. Upside remains elusive with 61.8% Fib offering strong resistance.

More Shiba Inu news

Cardano price eyes a drop towards $1.85

Cardano price is once again on the slippery slope this Sunday, kicking off a new week on the wrong footing, as ADA bulls lack follow-through recovery momentum. ADA sellers target 100-DMA at $1.85 on a firm break below $2.

More Cardano News

Ethereum bears contemplate a drop to $2450

ETH price is building up downside pressure while clinging to the 200-SMA support. RSI remains flat below the midline, keeping the sellers cheerful. A drop towards $2450 remains in the offing if the 200-SMA caves in.

More Ethereum News

Polkadot price at make-or-break point as DOT awaits a range breakout

Polkadot price spots a potential symmetric triangle pattern on the 1D chart. RSI stands neutral at 50.00, suggesting a lack of clear directional bias. 21-DMA offers immediate resistance, 50-DMA guards the downside.

More Polkadot News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast