As the crypto market fluctuates sharply over the week, it stands at a $2.51 Trillion market cap. Amidst this high volatility, the choppy market behavior ends the week on a bearish note. With the 24-hour Volume of $115 Billion, the selling pressure is on the rise. With the bears in control, the top coins in the crypto industry like Bitcoin, Ethereum and XRP prices are on a downhill. Despite the upcoming Bitcoin Halving next month, the buyers are struggling to hold control.
As the bulls continue to struggle, will the coming week remain bearish? Or, will the buyers regain strength to hit higher levels. Let’s have a closer look at each of the coin’s price chart and find out if Bitcoin, Ethereum and XRP are ready for a reversal.
With the buyers failing to sustain the uptrend beyond the $73,000 mark, the BTC price is on a downhill. Giving rise to two declining trendlines to form an expanding channel, the downfall hits the $60,760 low.
In the 4H chart, the BTC price shows bullish dominance at the $62,000 mark, creating a demand zone. As Bitcoin halts at this zone, the price action offers a double-bottom reversal.
As per the Fibonacci levels, Bitcoin price is ready, resting at the 50% Fibonacci level and the 200 EMA. Hence, the sideline traders are anticipating a high momentum reversal shortly.
Currently, the BTC price trades at $64,180 with an intraday growth of 0.62%, leading to a Doji candle. Hence, in Bitcoin, Ethereum and XRP, BTC price is ready for a bull run. In a bullish scenario, the next week could result in a bounce back to the $73,000 peak with the overhead trendline breakout.
Could Ethereum Bulls Land Back On Their Feets?
Second in our list of Bitcoin, Ethereum and XRP and also in the list of cryptocurrencies per market cap, the ETH price is prepping a comeback. With a market cap of $421 Billion, Ethereum is on the similar downhill path along with Bitcoin and XRP.
With a 17% drop in the last two weeks, the ETH price reverts from the $4,000 mark. Currently trading at $3,345, the altcoin shows an intraday move of 0.25% marking out a new Doji.
As per the ETH price analysis and the Fibonacci retracement levels in the 4H timeframe, the price trend falls below the 200 EMA. However, the bullish divergence in the RSI line projects a high likelihood of a turnaround.
Considering the bull run revives in the coming week, the ETH price can scale out to cross $3,600. In such a case, the altcoin could land at $4,050.
Finding Pattern in XRP Price’s Choppy Trend
Amidst the overall market recovery taking a minor pullback, the XRP price remains on the sideline. As the overall trend in altcoins leads to new all-time highs, the XRP price maintains a volatile sideways move.
Fluctuating near the 200-day and 50-day EMA after the recent golden crossover, the Ripple price trend is stuck between 38.20% and 50% Fibonacci level.
As the XRP price takes support at the 50-day EMA and the 38.20% Fib level, the reversal rally could hit $0.68.
What’s Next For Bitcoin, Ethereum, and XRP Price Trend?
With the overall market taking support after a week-long correction, the buyers could find a recovery next week. However, the bull run could hit a pause as global affairs are warming up as Russia suffers a terrorist attack.
Considering the buyers halt the downfall, the market could witness Bitcoin, Ethereum, and XRP prices surging.
This news is republished from another source. You can check the original article here