Top 3 Price Predictions for Bitcoin, Ethereum, and Ripple: Before a possible breakout,
Following a 4.25% recovery last week, Bitcoin (BTC) is currently trading around $85,600 on Monday. Following Bitcoin’s lead, Ethereum (ETH) and Ripple (XRP) recovered over 7% each the week before and are now trading around their critical levels.
The $90,000 milestone is the target for Bitcoin bulls.
Last week, at about $85,502, the Bitcoin price broke and closed above its 200-day Exponential Moving Average (EMA), but it was unable to establish support. Additionally, on Sunday it broke and closed above its 200-day EMA once more. It is currently hovering around $85,600 as of Monday.
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Bitcoin may prolong the rally and retest its crucial psychological threshold of $90,000 if it finds support at its 200-day EMA.
On the daily chart, the Relative Strength Index (RSI) is 48, showing waning bearish momentum as it points upward toward its neutral level of 50. For the rebound rally to be maintained, the RSI needs to rise above its neutral level of 50. Last week, the Moving Average Convergence Divergence (MACD) indicator displayed a bullish crossover on the daily chart, indicating a positive trend going forward and providing a purchase recommendation. Furthermore, it displays increasing green histogram levels above zero, which denotes a strong upward velocity.
However, if BTC fails to find support around its 200-day EMA and closes below $85,000, it could extend the decline to retest its next support level at $78,258.
If the $1,861 mark holds, Ethereum’s rebound could continue.
The price of Ethereum recovered by almost 7% last week after being retested and finding support around its daily level of $1,861 for the previous two weeks. It is currently trading at about $1,980 as of Monday.
The price of ETH can continue to rise and retest its peak of $2,258 on March 7 if the daily support level of $1,861 holds.
The daily chart’s RSI, which is at 40 and getting close to its neutral level of 50, shows that the negative momentum is waning. But for the recovery rally to last, the RSI needs to rise above its neutral level of 50.
Last week, the MACD indicator displayed a bullish crossover on the daily chart, indicating a positive trend going forward and providing a purchase signal. Furthermore, it displays increasing green histogram levels above zero, which denotes a strong upward velocity.
However, if ETH breaks and closes below the daily support at $1,861, it could extend the decline to retest the next support level at $1,700.
Ripple could recover if the break above 100-day EMA is sustained
Last week, the price of ripple rose over 7% after breaking above its 100-day EMA at $2.31. It is currently trading at about $2.42 as of Monday.
The rebound may be extended to retest its next resistance level at $2.72 if the 100-day EMA at about $2.42 holds.
Indecisiveness among traders is shown by the daily chart’s RSI of 51, which is centered around the neutral level of 50. To maintain the positive momentum, the RSI needs to point higher and above its neutral level of 50. Last week, the MACD indicator displayed a bullish crossover on the daily chart, indicating a positive trend going forward and providing a purchase signal.
However, if XRP fails to find support around its 100-day EMA and closes below, it could extend an additional decline to test its next support level at $1.96.
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