Bitcoin, Ethereum, And XRP Price Prediction: Bull Rally On The Horizon?
The post Bitcoin, Ethereum, And XRP Price Prediction: Bull Rally On The Horizon? appeared first on Coinpedia Fintech News
The cryptocurrency market has displayed a consolidated price action over the past weekend, indicating a cool-off in the buying and selling pressure within the market sentiments. Top altcoins continue hovering close to their important support levels, indicating a rising bullpower in the crypto space.
Positively, the BTC price constantly holds its price above the $67K mark with the altcoin leader, Ethereum price, hovering close to its $3.1K level. On the other hand, despite recording a correction of 2.10% within the past day, Ripple’s XRP price continues to trade above the $0.51 mark.
With the increasing volatility in the crypto space, will BTC, ETH, and XRP record a bullish price action this week?
Bitcoin Price On The Path To Reclaim $70,000?
The market leader, Bitcoin price, has displayed a strong bullish price movement over the past week by adding 10.30% in valuation. Moreover, it has recorded a jump of approximately 1% within the past day with a trading volume of $21.19 Billion, a jump of 33.03% over the past day.
Positively, the BTC token has formed a symmetric triangle pattern in the 1D time frame and is hovering close to its resistance trendline, the outcome of which is unpredictable. Furthermore, the Cross EMA 50/200-day shows a bullish curve, suggesting a positive outlook during the days ahead.
With this, if the bulls break their resistance trendline, the price of Bitcoin will prepare to retest its ATH soon. However, a rejection could result in the price to plunge toward its support level of $60K in the coming time.
Ethereum (ETH) Price Hints At A Major Breakout This Week:
Despite recording a jump of 8.56% within the past week and increased price volatility in the crypto space, the Ethereum price has continued to trade under a falling channel pattern since mid-March, highlighting a rising disinterest of investors in this altcoin.
The ETH price has been hovering close to its resistance trendline with the EMA 50-day acting as a resistance to the price chart, indicating a mixed sentiment in the crypto space for the future price action of this crypto token.
At the time of writing, the price of ETH tokens was $3,120.84 with a 24-hour trading volume of $10.319 Billion (+20.91%). With this, if the bulls regain momentum, the altcoin leader will prepare to test its resistance level of $3.4K.
Conversely, a bearish setback will pull the price toward its low of $2.8K during the upcoming week.
XRP Price Records Increased Price Volatility!
The XRP price has formed a symmetric triangle pattern in the 1D time frame and continues to trade within it. Moreover, the Ripple token has added 5.25% within the past week with its price constantly recording a higher low, highlighting a strong bullish sentiment in the crypto space for this altcoin.
The technical indicator, MACD, shows a constant rise in the green histogram, whereas its averages display a neutral sentiment, highlighting uncertainty in future price action for this altcoin this week.
However, if the bulls record a breakout of the symmetric triangle pattern, the XRP coin price will test its upper resistance level of $0.56 by the upcoming weekend. Negatively, a weak price action could result in this altcoin breaking down its support trendline.
Conclusion:
The volatility in the crypto market is on a constant rise with major tokens displaying a significant price action within a short period.
Furthermore, evaluating the current sentiments, the top cryptocurrencies of the crypto market are on the verge of a major breakout, indicating a strong bullish price action during the upcoming time.
