Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin
Bitcoin (BTC) price broke out of the consolidation zone between $57,000 and $62,000, showing that a rally is imminent. Ethereum (ETH) is moving close to the $2,900 resistance level, which, if crossed, indicates a bullish move. Ripple (XRP) breakthrough over the $0.626 barrier level may portend an uptrend.
Bitcoin price broke above its resistance level, the 200-day Exponential Moving Average (EMA) at $62,280 and its 61.8% Fibonacci retracement level (drawn from the high on July 29 to the low on August 5) at $62,042 on Friday. At the time of writing on Monday, it is slightly down 0.2% at $64,144.
Ethereum price finds resistance around the 50% price retracement level at $2,843, which roughly coincides with the daily resitance level at $2,927 and the 50-day EMA at $2,905.As of Monday, trades are slightly lower, by 0.2%, at $2,737.
If ETH breaks above the $2,843 level and closes above the daily resistance at $2,927, it could rally 11% to retest its weekly resistance level at $3,236.
The daily chart RSI and AO are trading closely below their neutral levels of 50 and zero. Both indicators must trade above their neutral levels for the bullish momentum to be sustained.
Ripple price retested and was rejected by its daily resistance level at $0.626 on Saturday. It declined 2% on Sunday. On Monday, it continuously retraced down by 0.5% to $0.596.
If the Ripple price continues to retrace, it could find support around its daily support at $0.544. This support zone roughly coincides with the 200-day EMA at $0.551, making it a key support zone.
If the $0.544 level holds as support, it may rise to $0.626 before rallying by 5% to test its July 31 high of $0.658.
