Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC likely to take markets on a rollercoaster

Source Fxstreet
  • Bitcoin price broke out of a symmetrical triangle pattern and remains above throwback support.
  • Ethereum price is likely to have a pullback into its major support area between $3,400 and $3,200.
  • Ripple price holds the daily support level at $0.467.

Bitcoin (BTC) price is trading with a bullish bias following a successful breakout and retest of a symmetrical triangle pattern. Ripple (XRP) also follows in BTC’s footsteps as it continues to hold on to its major support level. Ethereum (ETH) price, on the other hand, shows signs of an impending correction.

Bitcoin price eyes for a 7% rally

Bitcoin price broke out of the symmetrical triangle pattern on June 4, which was formed by connecting the three lower highs and three higher lows, formed since May 19 using trend lines. The breakout, however, was rejected by the weekly resistance around the $71,280 level.

Currently, BTC finds support around the upper boundary of the symmetrical triangle pattern around the $68,500 level.

If this support holds, then BTC could rally 7% to its all-time high of $73,777.

BTC/USDT 1-day chart

BTC/USDT 1-day chart

However, if BTC breaks below the lower boundary of the triangle and closes below $67,147, the bullish thesis could be invalidated, leading to an 8% crash to its daily support level of $61,293.

Ethereum price looks promising

Ethereum price broke above a falling wedge pattern on the daily chart on May 20, leading to a 21% rally. However, it is encountering resistance from a bearish order block established on March 12, which ranges from $3,980 to $4,093, posing a challenge for ETH bulls.

Investors considering buying ETH should watch the following levels:

  1. The 50% retracement level at $3,424, calculated from the swing high of $3,984 on May 27 to the swing low of $2,864 on May 13.
  2. The 61.8% Fibonacci retracement level at $3,279 from the same movement.

If the conditions mentioned above play out, then the Ethereum price could revisit its previous resistance level at $4,000.

ETH/USDT 1-day chart

ETH/USDT 1-day chart

Conversely, if Ethereum's daily candlestick closes below the $2,864 level, it would create a lower low and indicate a disruption in the market structure. This development would negate the previously discussed bullish outlook and could potentially lead to an additional 9% decline, reaching the prior support level of $2,600.

Ripple price finds support on a major level

Ripple price bounces off from its daily support level of around $0.467 on Friday.

If the daily support at $0.467 support holds, XRP could move to the upside and retest its previous resistance level at $0.571.

XRP/USDT 1-day chart

XRP/USDT 1-day chart

However, if the Ripple daily candlestick closes below $0.467, then XRP could crash an additional 10% to its previous support at $0.419.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Ethereum (ETH) Price Closes Above $3,900 — Is a New All-Time High Possible Before 2024 Ends?Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Author  Beincrypto
Dec 17, 2024
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
placeholder
Gold Price Forecast: XAU/USD surges to all-time high above $4,650 amid Greenland tariff threatsGold price (XAU/USD) rises to a fresh record high near $4,675 during the early Asian session on Monday. The precious metal gains momentum after US President Donald Trump said he would slap tariffs on eight European nations that have opposed his plan to take Greenland.
Author  FXStreet
Jan 19, Mon
Gold price (XAU/USD) rises to a fresh record high near $4,675 during the early Asian session on Monday. The precious metal gains momentum after US President Donald Trump said he would slap tariffs on eight European nations that have opposed his plan to take Greenland.
placeholder
Bitcoin Holds $93K as Bulls Signal a ‘Buy-the-Dip’ MentalityBitcoin's recent fall to $91,800 signals a leverage reset, not a panic-driven sell-off, with $233 million in long positions liquidated.
Author  Mitrade
Yesterday 02: 15
Bitcoin's recent fall to $91,800 signals a leverage reset, not a panic-driven sell-off, with $233 million in long positions liquidated.
placeholder
Gold nears $4,700 record as US–EU trade war fears ignite haven rushGold (XAU/USD) rallies on Monday after falling to a four-day low on Friday, edging up more than 1.50%, and hovers near the $4,700 figure after reaching a new all-time high courtesy of geopolitical uncertainty amid the US-European Union trade-war escalation over the weekend.
Author  FXStreet
Yesterday 02: 20
Gold (XAU/USD) rallies on Monday after falling to a four-day low on Friday, edging up more than 1.50%, and hovers near the $4,700 figure after reaching a new all-time high courtesy of geopolitical uncertainty amid the US-European Union trade-war escalation over the weekend.
placeholder
Bitcoin options open interest hits $74.1B, topping futures volume for the first time: CheckonchainBitcoin options open interest hit $74.1B vs. $65.2B futures as BTC trades at $93,189; Checkonchain flags IBIT/Deribit concentration and a 15% hashrate drop.
Author  Mitrade
Yesterday 03: 00
Bitcoin options open interest hit $74.1B vs. $65.2B futures as BTC trades at $93,189; Checkonchain flags IBIT/Deribit concentration and a 15% hashrate drop.
goTop
quote