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Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC scales higher, taking altcoins with it

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC scales higher, taking altcoins with it WikiBit 2021-09-16 18:07

As a result, Ethereum, Ripple and other altcoins have followed suit.

  • Bitcoin price sliced through crucial barriers, eyeing a retest of $52,920.

  • Ethereum price vies to climb higher as bulls lock in on $4,000.

  • Ripple price manages to hold above $1.05 support as bulls resurface.

Bitcoin price exuded bullishness over the past week as it continued to rally without significant corrections. As a result, Ethereum, Ripple and other altcoins have followed suit. Although the entire market looks bullish at the time of writing, things could turn awry if BTC witnessed a September 7-style crash.

Bitcoin price approaches stiff resistance barrier

Bitcoin price rose 12% over the past three days and is currently trading around $48,380. The resistance levels at $48,895 and $50,000 are major hurdles in bulls’ path. Therefore, the bulls need enough momentum to flip these blockades into support platforms for a smooth recovery to September 6 levels.

This move will push BTC into the Fair Value Gap (FVG) and suggest that the buyers might be vying for a retest of this range’s upper limit at $56,361. If this development is complete, it will represent a 16% ascent from the current position.

On the other hand, if BTC fails to maintain its buying pressure, a retracement to $46,833 seems likely. However, a breakdown of $44,705 will invalidate the bullish thesis.

Ethereum price remains strong

Ethereum price consolidated between the $3,015 to $3,338 level for almost a month before it flew away from it and tagged the $4,000 psychological barrier. While this move was impressive, it was followed by the September 7 crash, undoing all the gains. However, the congestion seen between $3,015 to $3,338 helped limit the sell-off and kept ETH afloat.

Due to the recent uptick in big crypto’s price, Ethereum price seems to be heading close to the FVG, ranging from $3,716 to $4,071. Investors can assume the smart contract token will retest the $4,000 level if the current bullishness remains.

In a highly bullish case, a flip of the $4,071 supply barrier into the demand floor will hint at a move toward an all-time high at $4,372.

Regardless of the bullishness Ethereum price exudes, if the big crypto takes a tumble, investors can expect ETH to follow suit promptly. While breaching below the $3,345 might trigger another consolidation, it would not invalidate the bullish thesis.

However, creating a lower low below $3,223 will put an end to the optimism around ETH.

Ripple price makes a move

Ripple price set up a swing high on September 6 at $1.42 but failed to sustain the level as it was followed by a market-wide crash the next day. Due to this sell-off, XRP lost 25% of its value but managed to stay above the $1.05 support floor.

After a few days of consolidation, XRP price managed to bounce off this barrier and kick-start an uptrend. A 10% upswing from its current position will push Ripple to encounter the $1.23 resistance level.

Flipping this hurdle into a support level will open the remittance token’s path to the range high at $1.42. In a highly bullish case, XRP price might extend the ascent to retest the $1.66 and $1.83 ceilings.

While things seem to be going well for Ripple, a breakdown of the $1.05 support floor will invalidate the bullish thesis and scare the investors. This move will set up a lower low and might induce a sell-off to the subsequent demand barrier at $0.96.

Disclaimer:

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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