This bullish thesis is near invalidation. Please consider being aware of the alternative bearish scenario as markets are showing increased volatility.
BTC/USDT 1-Day Chart
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: It’s Crypto Season!
- Bitcoin price invalidates the bearish scenario and is poised to rally higher.
- Ethereum price continues to validate last week’s bullish trade setup.
- Ripple price faces rejection at mid $0.35 barrier.
The Cryptocurrency market displays pivotal retaliation. Investors should prepare for an influx of volatility set to bringforth a bullish trading environment
Bitcoin price shows strength
Bitcoin price shows optimistic signals of a bullish trading environment to end the first week of July. It was noted on July 6 that the symmetrical triangle, which has coiled around the BTC price since mid-June, could break upwards and create a 30% rally targeting $27,000. On July 8, the bulls successfully breached the bearish invalidation level at $21,868. Bitcoin price now consolidates just below the 200-Week Moving Average (WMA) as traders anticipate an imminent breach.
Bitcoin price is currently valued at $21,665. The peer-to-peer digital currency token should begin to rally impulsively towards the mid-$25,000 levels if it can break through the 200-WMA. The Volume Profile Indicator confounds the idea of an upcoming bullrun as a classical ramping pattern has been established on the 3-hour chart. Key targets to aim for are $25,750 and $27,125.
Traders looking to enter the market should keep their Invalidation below $18,595. If the $18,595 level is breached, the BTC price could decline as low as $14,300, resulting in a 33% decrease from the current price.
BTC/USDT 3-Hour Chart
Ethereum price is in profit
Ethereum price continues to move higher as the decentralized smart contract token has just breached the 200-Week Moving Average (WMA). Traders participating in July 4’s bullish trade setup have already witnessed a 14% increase in value. If you are amongst those buyers, you can consider moving your profitable positions to break even at $1,122. If market conditions are genuinely bullish, the ETH price should propel upwards from the breached 200-week moving average that it currently hovers above.
Ethereum price targets $1,400 and potentially $1,5550 in the short term. The increasing slope of the newfound trendline confounds the idea of a strong bull rally underway. Still, the safest Invalidation of the uptrend remains at $978 for traders looking to open a new position. If $978 is breached, expect further declines into $750, resulting in a 38% decrease from the current Ethereum price.
ETH/USDT 3-Hour Chart
Ripple’s XRP price faces turbulence
Ripple’s XRP price has been rejected at the $0.35 level, which could result in more congestion in the coming days. The digital remittance token currently trades at $0.33 as the bears are taking full advantage of the profit-taking consolidation. XRP price has support at the $0.31 level from the 8-day moving average and an ascending trend line that has provided support between June 30 and July 5.
Ripple price could continue to rally higher as Bitcoin certainly shows promising technicals. However, placing entries too soon is ill-advised. A breach above the $0.35 level could be the signal to look for. The bullish target lies in the $0.39 vicinity. Ultimately the bullish invalidation point must be $0.31. If the bears breach this level, consider the uptrend scenario void. The bears could force a decline as low as $0.20, resulting in a 40% decline from the current XRP price.
XRP/USDT 3-Hour Chart
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