Bitcoin, Ethereum, and Ripple: Our Top 3 Price Predictions Cryptocurrency markets are turning green as Bitcoin marches to $25,000.
The price of Bitcoin and a small number of other cryptocurrencies, notably the price of Ripple, are both experiencing big moves. The price of Ethereum, on the other hand, appears to have taken a backseat and is not exhibiting any indications of movement, at least not for the time being.
The price of Bitcoin is the most bullish of the group right now.
The Bitcoin price has accomplished the seemingly impossible by creating a daily candlestick close that is higher than its 200-week Simple Moving Average (SMA), which is now at $22,631. This has turned the SMA into a support level for the bitcoin price. This discovery acts as a positive trigger, and as a result, many investors have moved their money from other cryptocurrencies to bitcoin.
As a direct consequence of this, only the significant cryptocurrencies and a limited number of alternative cryptocurrencies are exhibiting bullish behavior. The most probable objective for bulls would be to attempt a retest of the equilibrium point at $25,000 in price. A local top may emerge for the price of bitcoin around this level.
If the price of Bitcoin generates a daily candlestick close that is lower than $22,631, it will suggest that there is weakness among purchasers. On the other hand, the bullish thesis would be rendered worthless if a four-hour candlestick closed lower than $21,670. This would turn the previous range high into a resistance level.
The price of Ethereum fluctuates but stays positive.
The price of Ethereum has just broken over the $1,284 barrier, and it is presently attempting to break through the $1,543 barrier of resistance. Even though Ethereum has transformed the subsequent level into a support floor, there is not enough bullish momentum for it to initiate a run-up.
Because of this, patient investors have a good chance of seeing a return on their investments as money moves from Bitcoin to Ether. In the event that this scenario plays out, market players may anticipate that the price of Ethereum will return to the 1,700 dollar level in the near future. Some conditions must be met before the intelligent contract token even considers approaching the psychological threshold of $2,000.
In spite of the optimistic optimism, the optimistic view will be dashed if the price of Ethereum is unable to maintain a position above the threshold of $1,543 over the whole forecasting period. In such a scenario, the price of Ethereum might fall back to the $1,284 level, but if it reaches that point, purchasers will have another opportunity to try to drive the price of Ethereum higher.
Ripple’s price is getting poised to make much more progress.
At the price of $0.353, the descending trend line for Ripple’s price was met with resistance, which resulted in a rebound and further rallies. If the momentum that has been flowing continues, this trend has a good chance of reaching the range high of $0.387.
If the XRP price successfully breaks through the $0.387 resistance level and establishes a footing above that level, investors may anticipate a continuation of the current upswing. If this scenario plays out, Ripple’s price may be forced to confront the $0.439 barrier again.
Even if the price of Ripple seems to be heading in the right direction, it is still possible to be rejected at $0.387, particularly if the markets get calmer. However, the bullish thesis will be rendered invalid if the rejection of this price action results in a candlestick for the four-hour time frame closing lower than $0.336.