Top 3 Price Predictions for Bitcoin, Ethereum, and Ripple
On Monday, Bitcoin (BTC) and Ethereum (ETH) prices are stabilizing at over $93,500 and $1,770, respectively, after rising by more than 10% and 12% the week before. Last week, the price of Ripple (XRP) also increased by 8.3% and closed above its main resistance level, suggesting that a rally is imminent.
Bitcoin declines as it faces rejection from the $95,000 level
Early last week, the price of bitcoin surged 11.14% till Friday, breaking above its 200-day Exponential Moving Average (EMA) at $85,000. However, Bitcoin fell marginally during the following two days and could not close above its March high of $95,000. It is currently trading at over $93,500 as of Monday.
Bitcoin may continue to fall and find support near the $90,000 psychological relevance level if it is unable to close above the $95,000 resistance level and has a pullback.
After being rejected on Saturday near its overbought level of 70, the Relative Strength Index (RSI) on the daily chart now reads 65, indicating waning bullish momentum. A significant drop in the 3 price predictions for Bitcoin may occur if the RSI drops below its neutral level of 50.
However, if BTC continues its upward momentum and closes above $95,000, it could extend the rally to retest its next daily resistance at $97,000.
There are indications that Ethereum bulls are tired
The price of Ethereum rose 14.86% until Saturday after breaking above the $1,700 resistance level on Tuesday. The following day, however, ETH retested the daily resistance level at $1,861 and had a minor dip. It is currently trading at about $1,773 as of Monday.
Ethereum may extend the losses to retest its next daily support at $1,449 if it drops and closes below $1,700.
Fading bullish momentum is indicated by the RSI on the daily chart, which is currently at 53 and points lower toward its neutral level of 50. Ethereum’s price may drop precipitously if the RSI drops below its neutral threshold of 50.
Conversely, if ETH breaks and closes above the daily resistance at $1,861, it could extend the rally to retest its psychological importance level at $2,000.
XRP shows signs of strength
The price of XRP rose more than 8% and finished above the daily resistance level at $2.23 on Sunday, continuing to trade above its 200-day Exponential Moving Average at $1.98 last week. It is currently trading at about $2.24 as of Monday.
XRP will extend the rise to retest its high of $2.50 on March 24 before possibly hitting $3.00 if it keeps up its current trajectory.
Bullish momentum is indicated by the daily chart’s RSI, which is at 57, above its neutral level of 50.
On the other hand, if XRP fails to find support around the $2.23 level, it could extend the decline to retest its next support level at $1.96.
coinweck does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. The image used in this article is for informational purposes only and is provided to us by a third party. coinweck should not be held responsible for image copyright issues. Contact us if you have any issues or concerns. Readers should do their research before taking any actions related to the company.