xrp crypto news

Altcoins make a comeback as BTC teases reversal

BTC and ETH to correct 10% as Ripple reaches escape velocity
Written by publisher team

  • Bitcoin price is showing signs of bottoming out as it is trading around the $42,000 level.
  • Ethereum price needs to clear the 200-day SMA at $3,431 to initiate a 15% uptrend.
  • Ripple price lacks volatility and has limited upside potential at $0.826.

Bitcoin price is hovering around a crucial barrier moving sideways, which indicates that a huge move may be around the corner. Ethereum is already showing promise of a rally pickup while XRP slows. Some altcoins are already swinging higher, showing strength and optimism.

Bitcoin price sets itself up for rapid rise

Bitcoin price has been stuck trading around the $42,000 level for about a week. The large cryptocurrency could bottom out after dropping for the third time in the liquidity pool below $41,492. This swing low could trigger an uptrend that breaks above the aforementioned support floor.

The resulting rally aims to retest the $45,678 resistance barrier after a 10% rally. In some cases, the increase could extend to $48,027 or the 200-day simple moving average (SMA) around the same level.

In total, BTC could rise by 15% if the above mentioned bullish scenario is implemented.

4 hour chart BTC/USD

While things are looking good for the bitcoin price, a breakdown of the bottom line of the liquidity pool at $39.057 would create a lower bottom, invalidating the bullish theory. This development could lead to a crash of BTC to $30,000.

Ethereum price is preparing for a comfortable rally

Ethereum price is following Bitcoin’s footsteps and is currently hovering around the $3,153 barrier. Although ETH has recovered above it, there is a possibility that it will be able to make its way to produce another swing low, and complete the process of reaching the bottom.

This development in ETH is likely to lead to an uptrend to $3,629, which is a 15% increase, closely following BTC. In some cases, the rally may break the immediate resistance barrier and reach the $3,852 barrier and liquidity will stabilize above it. Cumulatively, ETH could see a potential gain of 22% if the bullish scenario is implemented.

ETH/USD 6-hour chart

ETH/USD 6-hour chart

Regardless of the optimism, Ethereum price needs to cut the 200-day simple moving average (SMA) at $3,431 to make a 22% rally. A failure to withdraw could lead to a 6% breakdown to the $2,963 support level.

The closing of a six-hour candle below this barrier will create a lower low, invalidating the bullish theory. This swing low could be the origin of the downside move that is pushing ETH towards $2,764.

Ripple price completes its bearish target

Ripple price amassed liquidity that settled below $0.749 from the sudden crash on January 6th. Since then, the price of XRP has been hovering around the same level. This consolidation may be a bottom pattern before the downtrend attempts to reverse.

Unlike BTC or ETH, the price of XRP appears to lack volatility, and investors should not hold their breath. We expect the upside to be capped at $0.823.

4 hour chart XRP / USD

4 hour chart XRP / USD

If buying pressure fails to push the Ripple price higher, there is a higher probability that it will return to the $0.705 support level. Closing a 4-hour candle below this barrier will create a lower low, invalidating the bullish theory.

Such a development could bring the price of XRP down to $0.604, where buyers can try another bullish trend.

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