Price Analysis

Top Predictions for Bitcoin(BTC), Ethereum(ETH) & Ripple (XRP) Price during the Monthly Close!

Written by: Sahana Vibhute

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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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Apr 29, 2022

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Bitcoin(BTC)

Bitcoin price is swinging within crucial consolidation as the asset is constantly failing to secure its position above $39,000. Despite repetitive attempts, the price is trading within the danger zone possessing the possibility of draining within a deep well. However, the current day’s close, if recorded above certain levels may induce a ray of hope for a bullish monthly close. 

btcprice
  • The BTC price a couple of days before slid down the lower support of the wedge and still trying hard to re-enter the pattern firmly. 
  • The RSI is attempting a bullish divergence and MACD is about to let out a strong buy signal, a significant breakout may be imminent. 
  • However, if the flip uplifts the price above $40,000 and seals the monthly close above $42,000, then a significant uptrend may be expected in May. 

Ethereum(ETH)

The Ethereum price from the beginning has maintained its trend along the lower uptrend line. It is currently attempting hard to rise above the immediate resistance at $3028. No doubt the asset had managed to breach through these levels multiple times but eventually failed to sustain.

ethprice
  • The RSI and MACD are still bearish and hence could drag the price towards the lower support which appears largely unlikely. 
  • A minor flip is expected in the next couple of hours which may close the day’s trade above $2900. 
  • This close may pave way for the asset to rise above $3000 before the monthly close. 

Ripple (XRP) 

Compared to the other two popular assets, the XRP price appears to be in a massive danger zone. The price underwent a huge descending trend since the beginning of April’s trade and was unable to flip the bearish trend. Therefore, the price is largely expected to close the monthly trade on a bearish note.

xrpprice
  • The XRP price is showing no signs of a flip or rebound towards the immediate resistance as the selling volume has mounted largely
  • The RSI has cemented to the bottom while the MACD shows intensified selling volume and hence the price may be stuck within a bearish trap
  • Therefore, the XRP price may continue with the descending trend and eventually slide down below $0.6 to ignite a strong rebound

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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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