Top 3 Price Prediction #Bitcoin , Ethereum, Ripple: 5% drop likely for #BTC as it works out next move north
Bitcoin price could fall 5% to bounce at the 250-day EMA at $34,483 for the next leap north.
Ethereum price likely to rise 5% to $2,136 range high if the support provided by the ascending trendline above $2,029 holds.
Ripple price filling up a symmetrical triangle makes a 10% drop to $0.5981 likely as XRP erases its weekly gains.
Bitcoin (BTC) price, at the helm of the crypto top three, is leading Ethereum (ETH) and Ripple (XRP) prices south as the market shows weakness. All eyes remain peeled on the US Securities & Exchange Commission (SEC) as the eight-day window experts say the financial regulator has to approve a spot Bitcoin exchange-traded funds (ETFs) elapses in just about three days.
Bitcoin price eyes 5% slump unless a spot BTC ETF launches
Bitcoin (BTC) price could fall 5%, or not, depending on what the US SEC decides to do in the next three days. Whether it will be a yay or nay in regard to the spot Bitcoin exchange-traded funds (ETFs) will be the determining factor as the detailed eight-day window closes fast.
Meanwhile, a 5% slump seems likely for Bitcoin price amid falling momentum. It comes amid buyer exhaustion after BTC was massively overbought. With the Relative Strength Index (RSI) and the Awesome Oscillator (AO) supporting the downside, BTC could slide to test the support confluence between the 25-day Exponential Moving Average (EMA) and the horizontal line at $34,483 before a possible bounce.
In a more dire case, the slump could crack past $34,483 to test the 50-day EMA at $32,332. Selling pressure could see Bitcoin price lose critical support at $31,190. A daily candlestick close below this level would invalidate the bullish thesis.
On the flipside, increased buying pressure, which would happen if the SEC approves the launch of a spot BTC ETF, could send Bitcoin price north, clearing the range high at $37,972 to bring the $40,000 psychological level into sight.
Ethereum price must hold above ascending trendline to realize upside potential
Ethereum (ETH) price is showing weakness, but the overall trend remains bullish. To realize more gains, the second largest cryptocurrency by market cap must hold above the ascending trendline, which could deliver 5% gains for a test of the $2,136 range high. In a highly bullish case, the gains could stretch to the $2,200 psychological level.
On the other hand, increased seller momentum could send Ethereum price below the ascending trendline at $2,029. A break and close below this level could see ETH fall into the supply zone turned bullish breaker. A break and close below its midline at around $1,935 would solidify a continuation south.
Ripple price fills up a triangle:
Ripple (XRP) price has filled up a triangle amid reducing volatility in the XRP market. For the next directional bias, investors should wait for a confirmed breakout of this pattern. Meanwhile, all signs point to a downside move, amid falling momentum, indicated by the RSI and the AO histogram bars flashing red.
Increased selling pressure could see Ripple price break the lower trendline of the triangle to test the 25-day EMA at $0.6187. If the 25-EMA fails to hold as support, the slump could extend for XRP to tag the $0.5981 support level, 10% below the current price. A break and close below this level would clear the path for the remittance token to spiral further, slipping past the 50-day and 100-day EMAs at $0.5837 and $0.5619, respectively, to fall into the consolidation range between $0.5392 and $0.4735.
