Bitcoin, ETH & XRP Price Prediction: Bullish Reversal on Cards?
The post Bitcoin, ETH & XRP Price Prediction: Bullish Reversal on Cards? appeared on BitcoinEthereumNews.com.
Amid increased price volatility in the cryptocurrency market, top tokens continue recording a mixed price sentiment. Moreover, limelight tokens such as Bitcoin, Ethereum, and XRP are currently hovering close to critical ranges. Further, with a bearish start to “Uptober”, will these tokens make a comeback in the near future? To uncover such a mystery, let us understand the market sentiments and potential price targets of these tokens. BTC Price Reclaims $62,000 Mark! With repeated rejection at its resistance trendline, the Bitcoin price has continued trading within the falling channel pattern since March. Moreover, failing to hold its value above $66k, it has dropped ~6% in 7 days. TradingView: BTC/USDT The EMA 50/200-day shows a high possibility of a Death Cross in the 1D time frame, highlighting a weak bullish sentiment for the market leader in the crypto space. Further, the Relative Strength Index (RSI) continues hovering close to its neutral point with its average trendline recording a constant decline. This suggests a negative outlook for the Bitcoin price this week. If the bullish momentum resurfaces, this could result in the BTC crypto price heading toward its resistance level of $66,000. On the flip side, a bearish action could pull the price toward its low of $60k. ETH Price Holds Its $2.4k Level! Amid ongoing market turmoil, the Ethereum price dropped ~10% over the past seven days. Notably, the ETH price records its 5th failed attempt to break out of its major resistance level. TradingView: ETH/USDT With the second-largest crypto token recording a consolidated action, the technical indicators have turned neutral. This highlights uncertainty in the future price action of the Ethereum token. Suppose, a bullish reversal occurs, in that case, the ETH coin price could retest its $2.8k level. Conversely, if the bears dominate the crypto space, the price could…
Filed under: News - @ October 5, 2024 5:27 pm