Top 3 Price Prediction Bitcoin, Ethereum, Ripple

(Akash Girimath – FXStreet)

– Bitcoin price continues to consolidate around the $19,000 level with no directional bias.

– Ethereum price is stuck between the $1,440 and $1,280 barriers and awaits a go-signal from BTC.

– Ripple price could slide to $0.397 if it fails to recover above the $0.464 support level.

Bitcoin price has been consolidating over the weekend, albeit triggering a minor rally. This move continues to be undone as sellers offload their holdings. But the bullish move over the weekend could be an indication of more positive developments to come.

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Bitcoin price is facing its fourth rejection at the 30-day Exponential Moving Average (EMA) at $19,432. If, after the resulting retracement, BTC price rebounds and does eventually successfully slice through the 30-day EMA, that will be a key development to triggering a run-up for BTC.

If such a move then flips the $19,432 hurdle into a support floor, Bitcoin price could kick-start a rally to $22,048, providing it also overcomes the $19,306 to $19,737 resistance area.

On the other hand, if Bitcoin price fails to move past the 30-day EMA at $19,432, it will indicate a weakness from buyers. A daily candlestick close that shatters the June 18 swing low at $17,593 and flips it into a resistance level will invalidate the bullish theiss for BTC and potentially trigger a correction to $17,000 or $15,551.

Ethereum price pushes forward

Ethereum price managed to recover above the $1,280 support level and kick-start a 9.49% run-up over the last three days. This move collected the buy-stop liquidity resting above $1,343, however, and is currently reversing.

A pullback could see ETH revisit the $1,220 support level to complete the triple tap setup, as discussed in a previous article. This development would be a bullish retracement and is an opportunity for sidelined buyers to purchase discounted ETH.

However, a bounce from this level could propel the Ethereum price to move to $1,440.

While things are looking up for Ethereum price, a daily candlestick close below $1,220 without any signs of recovery will invalidate the bullish thesis. This development could further knock ETH down to the $1,080 support level.

Ripple price on a slippery slope

Ripple price faced rejection after a failed attempt to recover above the $0.465 hurdle. A daily candlestick close below this level could trigger a correction to the midpoint of the $0.331 to $0.464 range at $0.397.

A demand zone between $0.381 and $0.433 overlaps the said midpoint at $0.397 and should provide investors with a cushion that absorbs the incoming selling pressure.

Depending on the development in Bitcoin price, which affects the whole market, investors should consider accumulating XRP between $0.397 and $0.433 levels. If the subsequent surge in buying pressure increases and flips the $0.464 hurdle, XRP price could retest the $0.561 resistance level.

While things are looking up for Ripple price, a breakdown of the $0.397 support level could spell disaster. If this move is followed by a daily candlestick close below the demand zone’s lower limit at $0.381 it will invalidate the bullish thesis.

This XRP price action development could see Ripple price revisit the $0.360 support floor.