Bitcoin, Ethereum, and Ripple are the top three price predictions. Bulls aim for $3.4 XRP, $5K ETH, and $120,000 BTC.
At the time of writing on Friday, the price of Bitcoin (BTC) was trading above $115,000 after recovering by almost 4% and closing above significant resistance so far this week. Following Bitcoin’s lead, Ethereum (ETH) and Ripple (XRP) saw about 5% and 6% recoveries, respectively. All indications point to more increases as XRP broke over a bullish pattern and ETH approaches its critical barrier level.
Bitcoin bulls aiming for the $120,000 mark
The price of bitcoin began the week with slight increases, but it was rejected at the 50-day Exponential Moving Average (EMA) around $113,129 before picking up steam in the middle of the week. It closed above this crucial mark on Wednesday after rallying more than 2%, and it continued to rise the next day. It is approaching its daily resistance at $116,000 as of Friday’s writing.
Bitcoin may continue to rise above its crucial psychological level of $120,000 if it closes over the daily resistance of $116,000 per day.
The daily chart’s Relative Strength Index (RSI), which is above its neutral level of 50 at 58, indicates that bullish momentum is accelerating. On Saturday, the Moving Average Convergence Divergence (MACD) indicator showed a bullish crossover that is still in place, suggesting persistent
On the contrary, if BTC faces a correction from the daily resistance at $116,000, it could extend the decline toward its 50-day EMA at $113,129.
Ethereum heading toward record high
Since August 29, the price of Ethereum has been fluctuating between $4,232 and $4,488 for the past 13 days. It is currently approaching its upper consolidation boundary at $4,488 as of Friday’s writing.
The surge may continue towards ETH’s record high of $4,956 if it breaks and closes above the upper boundary of $4,488 on a daily basis.
The daily chart’s RSI indicates that bullish momentum is gaining strength, reading 58 above its neutral level of 50. The bullish thesis is further supported by the MACD lines, which are poised to flip a bullish crossover.
If ETH fails to close above the $4,488 resistance level, it could extend the decline toward the lower boundary at $4,232.
Ripple breaks above the falling wedge pattern
The surge may continue toward XRP’s daily resistance around $3.40 if it maintains its current trajectory.
Similar to Bitcoin and Ethereum, XRP has bullish momentum as its RSI remains above the neutral level of 50. The optimistic outlook is further supported by the MACD’s bullish crossover on Monday, which provided purchase signals and indicated growing momentum.
On the other hand, if XRP faces a correction, it could extend the decline toward its 50-day EMA at $2.92.
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