Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Ethereum takes off toward $2,000

  • Bitcoin steadies above $50,000 but to continue with the uptrend, higher support at $54,000 must be established.
  • Ethereum cup and handle breakout eyes new highs above $2,000.
  • Ripple stuck in a range running from $0.45 to $0.5, ignoring the fallout with MoneyGram.

The cryptocurrency market is back in the green after a period of consolidation. Bitcoin has settled above $50,000 and is looking toward $60,000. Ethereum is holding above $1,800 amid the push for gains above $2,000. However, XRP is dancing in the range between $0.45 and $0.5.

Some selected altcoins are performing incredibly well, recording double-digit gains. For instance, Binance Coin is up 14.5%, Terra up 31%FTX Token up 14%, and the Graph up 15% over the last 24 hours.

Bitcoin needs higher support to sustain the uptrend

The flagship cryptocurrency broke above an ascending triangle pattern, as analyzed earlier. The pattern had a 17% target of $60,975. However, BTC seems to have stalled roughly above $54,000, thus delaying the uptrend.

The Moving Average Convergence Divergence (MACD) has a bullish impulse, implying that the least resistance path is upwards. Support above $54,000 will allow buyers to focus on higher price levels, at $58,000 and $60,000, respectively.

BTC/USD 4-hour chart

BTC/USD 4-hour chart

Ethereum begins key technical breakout

Ethereum is trading at $1,800 after breaking above a cup and handle pattern. This is a bullish pattern in technical analysis. A break above the horizontal resistance usually culminates in a massive upswing. Cup and handle patterns have exact breakout targets; for instance, Ether eyes a 21% rise to $2,045.

 A comprehensive look at the MACD reinforces the bullish outlook. The MACD cross above the signal line signifies that bulls have control over the price. As long as the MACD continues to move higher within the positive region, we can expect the ongoing uptrend to continue in the near-term.

Holding above $1,800 will also play a key role in keeping the bears at bay. This support will also keep the bulls’ focus on higher levels, preferably beyond $2,000.

ETH/USD 4-hour chart

ETH/USD 4-hour chart

Ripple bears remain unshaken at $0.5

XRP is trading at $0.47 after another rejection at $0.5. Besides, the 200 SMA is also limiting movement north. Consolidation between $0.45 and $0.5 will likely continue in the short-term.

The MACD has settled above the midline but is moving horizontally with no bullish or bearish bias. Ripple’s short-term technical analysis confirms the Bollinger Band consolidation as observed on the 4-hour chart. On the downside, the cross-border token also rests on top of the support provided at a confluence formed by the Bollinger Bands’ middle boundary and the 100 SMA.

XRP/USD 4-hour chart

XRP/USD 4-hour chart

Despite the sluggish price action, XRP holders have calmly taken in the news of Ripple parting ways with MoneyGram. Moreover, Ripple continues to fight the lawsuit battle in a US court following the Securities and Exchange Commission (DEC) filing in December.

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

Uniswap price eyes 20% upswing if UNI can clear this crucial barrier

Uniswap price is on a journey to retest $25 after the recent downswing. On-chain metrics hint at smooth sailing ride apart from the massive resistance at $20.84. A daily close below $17.75 will invalidate the bullish thesis.

More UniSwab news

Three major overlooked factors why Ethereum price is about to skyrocket

ETH price has been consolidating after the cryptocurrency registered a new all-time high on November 10. A few factors suggest that the token may be preparing for a massive take-off. 

More Ethereum news

Solana price to trigger a 15% upswing as SOL retests crucial support level

Solana price appears to be making a comeback after it slipped into a steep correction since its all-time high on November 7. This downswing has stopped after retesting a crucial support level and is on a journey to head higher.

More Solana news

Crypto exchange Kraken lists Shiba Inu, kickstarting SHIB price recovery

Leading cryptocurrency exchange Kraken announced that it will support the popular meme-based token Shiba Inu starting November 30. The digital asset trading platform has already begun accepting deposits of SHIB.

More Shiba Inu news

Cyber Monday 2021 Discounts!

Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? 

Subscribe now!