The recent price jump enabled the star crypto, Bitcoin to surpass the key resistance levels. However, the bullish momentum appears to slowly fade out due to which the price now appears to be at a critical juncture.
Meanwhile, the second-largest crypto, Ethereum has finely followed Bitcoin and displaying a huge possibility to rise beyond $1700 soon. Woefully, Ripple (XRP) price continues to stick to a descending trend and probably may ignite a fresh bearish wave soon.
Will Bitcoin (BTC) Price Break Above $25,000?
The BTC price is now targeting the crucial resistance at $25,000 from where it faced a couple of rejections earlier. The token is sitting on a major support at $22,800 and confronting the major resistance levels around $25,000.
It appears the sentiments are slowly dropping from being bullish to neutral and hence it may provoke the investors to book their profit. If this happens so, the price of Bitcoin may witness a serious plunge before hitting the resistance.
The price has now raised beyond the 200-day & 50-day MA levels and the 100-day EMA levels, piercing through the interim resistance at $21,393. However, it has not yet reached the major resistance at $24,945 and is facing an inverse action just before these levels. However, a rejection or a pullback is still not confirmed, but it indicates the token is set for a minor re-distribution.
Ethereum(ETH) Price Eyeing at $1800
Ethereum price also underwent a significant breakout during the past weekend and soared beyond the resistance at $1600. Moreover, the price also registered a fine upswing towards the major resistance but similar to the BTC price, the ETH price is also facing minor turbulence. The bears appear to have been activated and hence could retrace the price slightly.
Both Bitcoin and Ethereum pose a similar price chart, as the ETH price ignited a rebound from the 200-day MA and surpassed the 50-day MA and 100-day EMA. However, the token failed to rise beyond the resistance of the symmetrical triangle, which also collides with major resistance levels. Hence, the ETH price may face a small correction, which may drag the price toward the 50-day MA at $1602. If bulls fail to hold the price here, the lower support levels may be tested.
Ripple (XRP) Price Remains Unaffected by the Bullish Market Sentiments
Ripple price appears to be trading under the influence of the bears and hence is failing to register notable gains. The community appears to have been shaken by the recent comments by the CEO, Brad Gardlinghouse, who said the company had some exposure to the SVB collapse as they held some balance. However, the XRP price is sitting on the threshold, and a single wrong move may begin a fresh descending wave.
Unlike Bitcoin or Ethereum, XRP price is trading below the 200-day & 50-day MA, and 100-day EMA levels. The price which has been trading along the lower trend line seems to be testing the levels again before igniting a rebound. However, a bullish reversal may not be confirmed until the price levels do not surge beyond the crucial MA & EMA levels. In such a case, a retest of $0.31 or lower appears to be imminent.
Source: https://coinpedia.org/price-analysis/crypto-market-news-top-predictions-for-bitcoin-btc-ethereumeth-ripple-xrp/