Price Analysis

Amidst the Uncertain Market Movements, This is What Can Be Expected from Bitcoin(BTC), Ethereum(ETH) & Ripple(XRP) Price

Author: Sahana Vibhute

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A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Bitcoin(BTC)

btcprice
  • As Coinpedia earlier reported that the Bitcoin price may resume draining towards the lower support yet again as the price is following the dead cat bounce pattern
  • The dump appears to be fueled by the LUNA price rally, and hence once the market conditions get settled, BTC price could rebound hitting the lower support close to $28,000
  • However, to ease out the possibility of a descending trend, BTC price may maintain a consolidated but slightly descending trend until the beginning of the next week’s trade
  • Currently, the resistance is around $31,000 while the support is around $27,000 and hence the price may flow in the direction the pivot levels are broken

Ethereum(ETH) 

ethprice
  • Ethereum price had regained the levels above $2000, while the BTC price comfortably resided above $30,000
  • After reaching the levels below $1800, the price quickly regained its position above $1900, where it consolidated for a while
  • However, even after the recent jump beyond $2100, the price continues to consolidate just above the pivot zones between $1973 to $1928. 
  • Therefore, if the ETH price flips before hitting $1973, a significant upswing may be laid down else after hovering within the pivotal zones for a while may scramble down to $1800

Ripple (XRP) 

xrpprice
  • The XRP price drained heavily and dropped below $0.34 amid the recent turbulence within the crypto space
  • However, the price had attained the required levels at $0.42 and also maintained a significant uptrend towards $0.45 but quickly dropped back to the previous levels
  • However, the XRP price began to drop heavily from $0.42 and is currently on the verge to lose the $0.4 position too. 
  • The XRP price currently hovering in between the resistance and support at $0.42 and $0.39 respectively and a price movement in either direction may ignite with the respective trends

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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