Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Altcoins follow suit as range tightens for BTC

Please fol­low and like us:
Pin Share

Ads

Akash Girimath Akash Gir­i­math
FXStreet

Bit­coin price is hov­er­ing inside its range for near­ly a month now and shows no signs of break­ing out any time soon. How­ev­er, this has not stopped investors from spec­u­lat­ing a move high­er to fill the CME gaps.
Ethereum and Rip­ple are both attempt­ing to move high­er but are close­ly cor­re­lat­ed to the BTC price action.
Bit­coin price has been trad­ing inside the $28,575 and $31,493 range since May 14. Despite the May 30 attempt to breach the stale­mate, BTC fell short of momen­tum to break out and move high­er. Regard­less, the big cryp­to is giv­ing it anoth­er go as it retests the range high in an attempt to flip it into a sup­port lev­el.
Doing so will open the path to retest the $34,455 and $35,187 hur­dles with a minor hur­dle at $32,837. There­fore, investors need to watch close­ly for a breach of the range high.
BTC/USD 4-hour chart
BTC/USD 4‑hour chart
If Bit­coin price fails to climb high­er and gets reject­ed by the range high at $31,493, it will dent the opti­mistic nar­ra­tive. In such a case, BTC could poten­tial­ly sweep the range low at $28,575 again.
Ethereum price has been sta­bi­liz­ing around the $1,731 sup­port lev­el for near­ly two weeks and shows signs of build­ing steam. As ETH con­tin­ues to coil up, a poten­tial spike in volatil­i­ty that push­es Ethereum price to sweep the equal highs at $2,020 seems plau­si­ble.
How­ev­er, in some cas­es, the Ethereum price could pro­pel high­er and col­lect the liq­uid­i­ty rest­ing above the May 16 swing high at $2,164.
ETH/USD 4-hour chart
ETH/USD 4‑hour chart
On the oth­er hand, if Ethereum price pro­duces a four-hour can­dle­stick close below $1,700, it will cre­ate a low­er low and inval­i­date the bull­ish the­sis.
Rip­ple price has been pro­duc­ing low­er highs since May 13 and the recent swing high on June 8 seems to have done exact­ly that. As XRP price con­tin­ues to trade in lock­step with Bit­coin price, this trend is like­ly going to con­tin­ue. 
While the short-term tar­get is $0.455, the recent sell-off in BTC has caused the XRP price to fol­low suit. As a result, investors need to be patient and re-eval­u­ate as Rip­ple price slides low­er to tag the $0.371 sup­port lev­el.
XRP/USD 4-hour chart
XRP/USD 4‑hour chart
While things are look­ing up for Rip­ple price, a break­down of the $0.371 sup­port bar­ri­er will inval­i­date the bull­ish the­sis. Such a devel­op­ment could fur­ther lead to a 7% crash to $0.345.
 

Infor­ma­tion on these pages con­tains for­ward-look­ing state­ments that involve risks and uncer­tain­ties. Mar­kets and instru­ments pro­filed on this page are for infor­ma­tion­al pur­pos­es only and should not in any way come across as a rec­om­men­da­tion to buy or sell in these assets. You should do your own thor­ough research before mak­ing any invest­ment deci­sions. FXStreet does not in any way guar­an­tee that this infor­ma­tion is free from mis­takes, errors, or mate­r­i­al mis­state­ments. It also does not guar­an­tee that this infor­ma­tion is of a time­ly nature. Invest­ing in Open Mar­kets involves a great deal of risk, includ­ing the loss of all or a por­tion of your invest­ment, as well as emo­tion­al dis­tress. All risks, loss­es and costs asso­ci­at­ed with invest­ing, includ­ing total loss of prin­ci­pal, are your respon­si­bil­i­ty. The views and opin­ions expressed in this arti­cle are those of the authors and do not nec­es­sar­i­ly reflect the offi­cial pol­i­cy or posi­tion of FXStreet nor its adver­tis­ers. The author will not be held respon­si­ble for infor­ma­tion that is found at the end of links post­ed on this page.
If not oth­er­wise explic­it­ly men­tioned in the body of the arti­cle, at the time of writ­ing, the author has no posi­tion in any stock men­tioned in this arti­cle and no busi­ness rela­tion­ship with any com­pa­ny men­tioned. The author has not received com­pen­sa­tion for writ­ing this arti­cle, oth­er than from FXStreet.
FXStreet and the author do not pro­vide per­son­al­ized rec­om­men­da­tions. The author makes no rep­re­sen­ta­tions as to the accu­ra­cy, com­plete­ness, or suit­abil­i­ty of this infor­ma­tion. FXStreet and the author will not be liable for any errors, omis­sions or any loss­es, injuries or dam­ages aris­ing from this infor­ma­tion and its dis­play or use. Errors and omis­sions except­ed.
The author and FXStreet are not reg­is­tered invest­ment advi­sors and noth­ing in this arti­cle is intend­ed to be invest­ment advice.
Ter­ra (LUNA) price action has slipped below a crit­i­cal lev­el out­lined a few days ago. As price action moves start to get small­er, a big move is set to hap­pen, but it is very cloudy to see where that move will be going.
XRP hold­ers are await­ing key deci­sions in the SEC vs. Rip­ple case. Experts believe judge Sarah Net­burn could rule on the two key deci­sions in the law­suit against pay­ment giant Rip­ple. 
MATIC’s pur­chase of car­bon cred­its through Kli­maDAO part­ner­ship rep­re­sent­ed 104,794 tonnes of green­house gasses, equiv­a­lent to the Ethereum scal­ing solution’s debt since 2019. Car­bon neu­tral­i­ty has fueled a bull­ish sen­ti­ment among traders and 
Shi­ba Inu price may have bot­tomed but this can only be con­firmed if the cur­rent ral­ly per­sists. Traders should be aware of sev­er­al fac­tors. Shi­ba Inu price has sud­den­ly changed as the bulls have print­ed a sig­nif­i­cant­ly large bull­ish engulf­ing can­dle on the dai­ly chart. 
Bit­coin price has gone through tur­bu­lent times over the last few months. From reach­ing a new all-time high to hit­ting year­ly lows and revis­it­ing lev­els since 2020, the cryp­to mar­kets have been extreme­ly volatile.
Note: All infor­ma­tion on this page is sub­ject to change. The use of this web­site con­sti­tutes accep­tance of our user agree­ment. Please read our pri­va­cy pol­i­cy and legal dis­claimer.
Trad­ing for­eign exchange on mar­gin car­ries a high lev­el of risk and may not be suit­able for all investors. The high degree of lever­age can work against you as well as for you. Before decid­ing to trade for­eign exchange you should care­ful­ly con­sid­er your invest­ment objec­tives, lev­el of expe­ri­ence and risk appetite. The pos­si­bil­i­ty exists that you could sus­tain a loss of some or all of your ini­tial invest­ment and there­fore you should not invest mon­ey that you can­not afford to lose. You should be aware of all the risks asso­ci­at­ed with for­eign exchange trad­ing and seek advice from an inde­pen­dent finan­cial advi­sor if you have any doubts.
Opin­ions expressed at FXStreet are those of the indi­vid­ual authors and do not nec­es­sar­i­ly rep­re­sent the opin­ion of FXStreet or its man­age­ment. FXStreet has not ver­i­fied the accu­ra­cy or basis-in-fact of any claim or state­ment made by any inde­pen­dent author: errors and Omis­sions may occur.Any opin­ions, news, research, analy­ses, prices or oth­er infor­ma­tion con­tained on this web­site, by FXStreet, its employ­ees, part­ners or con­trib­u­tors, is pro­vid­ed as gen­er­al mar­ket com­men­tary and does not con­sti­tute invest­ment advice. FXStreet will not accept lia­bil­i­ty for any loss or dam­age, includ­ing with­out lim­i­ta­tion to, any loss of prof­it, which may arise direct­ly or indi­rect­ly from use of or reliance on such information.

source

Ads

Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *