Top 3 price prediction for Bitcoin, Ethereum & Ripple: knocking on bullish heaven doors


  • Bitcoin is finding an extremely tough resistance with an 18-indicator confluence barrier in a very tight range
  • Technical picture to improve a lot if such resistance is broken

The Top3 Cryptocurrencies are trading just below very important resistance levels. These are the levels that separate these Cryptos from a strategic change of scenario that would probably bring us a very bullish second half of the year.

BTC/USD 4H chart

BTC/USD

The lateral behavior proposed yesterday by Bitcoin's technical outlook is still ongoing, although BTC/USD has neared very important resistance levels. There is a strong confluence of technical indicators from different backgrounds and time-frames that doesn't seem easy to break. Moreover, there is also the trendline that stopped the price last week.

If Bitcoin bulls were able to pull it off and break these important resistances, they would find themselves with another price congestion resistance at $7855 as a previous step to meeting the 200-SMA, probably at $8150.

Below the current price, we have immediate supports at the 50-EMA and the 100-SMA between the $7560 and the $7600, which if lost would take BTC/USD back to the $7400 level, its first solid support. Below such level, the base of the channel is at $7120.

MACD in the Bitcoin 4-hour charts has completed the pattern and is now resting crossed to the upside above the equilibrium line of the indicator. We could see erratic moves until we see a bullish breakout.

Directional Movement Index in the same chart shows buyers in control. Sellers have decreased its strength level a lot, while ADX is still flat, awaiting some price action.

ETH/USD 4H chart

ETH/USD

Ethereum has met again the trendline that acts as the ceiling of the bearish channel that has been containing the price since the end of April. This second challenge has better chances of succeeding, as indicators are now regulated and much better prepared for a bullish breakout.

On the upside, beyond the aforementioned trendline, the first resistance is at $619. Above there, it will probably find another price congestion resistance at $660, although once that level is reached, the 200-SMA will probably below there, so it might be a previous obstacle to break.

On the downside, similar situation than in Bitcoin: first support is at the 50-EMA and the 100-SMA, between $594 and $596. If such support is lost, next target would be at $565 and finally the $530 mark, just at the trendline that crosses the bullish channel.

MACD in the Ethereum 4-hour chart shows a similar profile than Bitcoin, although still not crossed to the upside. As of now, lateral scenario in place with all the bullish potential recovered.

Directional Movement Index in the same chart shows the buyers in the drivers' seat, but in this case, the sellers have not been defeated and are still at pretty high levels. ADX, just as in the Bitcoin case, is awaiting the price action to react.

XRP/USD 4H chart

XRP/USD

Ripple, as its Crypto partners, is also positioned just below very important resistances. XRP/USD was able to briefly break above there this week, but the bullish breakout attempt was rejected. Right now, it doesn't seem that this breakout should come suddenly, as it still has some room below to prepare another bullish attempt under better circumstances.

On the upside, first resistance is located at $0.68, followed afterward by another technical barrier at $0.685. Moreover, adding another meaningful barrier, the 200-SMA is set at $0.69.

On the downside, the first support is at $0.661, followed by the 50-EMA and the 10-SMA, located between $0.642 and $0.629. Between both moving averages, we can find a price congestion support at $0.632.

This is a complex scenario for Ripple, but bulls are very close to getting into a very favorable territory.

MACD in the Ripple 4-hour chart has not been able to rest above the 0 line, but it has indeed flattened its curve quite a lot and seems ready now to position itself to the upside. It doesn't have much room to grow though.

Directional Movement Index in the same chart shows the buyers in control, while sellers still have not surrendered and are keeping its bearish stakes at high levels. ADX is still at high levels, but with a downward trend.


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.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Coinbase lists WIF perpetual futures contract as it unveils plans for Aevo, Ethena, and Etherfi

Coinbase lists WIF perpetual futures contract as it unveils plans for Aevo, Ethena, and Etherfi

Dogwifhat perpetual futures began trading on Coinbase International Exchange and Coinbase Advanced on Thursday. However, the futures contract failed to trigger a rally for the popular meme coin.

More Cryptocurrencies News

Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high

Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high

Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.

More Cryptocurrencies News

Ethereum cancels rally expectations as Consensys sues SEC over ETH security status

Ethereum cancels rally expectations as Consensys sues SEC over ETH security status

Ethereum (ETH) appears to have returned to its consolidating move on Thursday, canceling rally expectations. This comes after Consensys filed a lawsuit against the Securities & Exchange Commission (SEC) and insider sources informing Reuters of the unlikelihood of a spot ETH ETF approval in May.

More Ethereum News

FBI cautions against non-KYC Bitcoin and crypto money transmitting services as SEC goes after MetaMask

FBI cautions against non-KYC Bitcoin and crypto money transmitting services as SEC goes after MetaMask

US Federal Bureau of Investigations (FBI) has issued a caution to Bitcoiners and cryptocurrency market enthusiasts, coming on the same day as when the US Securities and Exchange Commission (SEC) is on the receiving end of a lawsuit, with a new player adding to the list of parties calling for the regulator to restrain its hand.

More Cryptocurrencies News

Bitcoin: BTC post-halving rally could be partially priced in Premium

Bitcoin: BTC post-halving rally could be partially priced in

Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days? 

Read full analysis

BTC

ETH

XRP