- Bitcoin prices can rise from $ 45,550 to $ 51,860 before encountering the weekly supply zone.
- Ethereum prices could continue to ride the bullish wave to $ 3,200.
- Ripple prices are plausible to overturn a major hurdle and suggest a move to $ 1.
Bitcoin prices have experienced a significant rise in buying pressure, which has approached an important area of supply. Clearly, BTC has plenty of room for upwards, suggesting that Ethereum and Ripple are likely to follow their lead.
Bitcoin prices are facing a decisive moment
Bitcoin prices have risen about 14% in the last three days, hitting a high of $ 44,998. This rally is impressive, but it approaches the weekly supply zone and expands from $ 45,550 to $ 51,860.
It is quite possible that BTC will break through this zone and form a local top at $ 48,464, but it is unlikely that it will require a significant surge in buying pressure to exceed this level. Most investors can expect a higher than the February 10 high of $ 45,956.
From a short-term perspective, investors can expect Bitcoin prices to return to their weekly support level of $ 42,748. If investors continue to record profits, BTC could return to the next level of support at $ 39,481.
A long-term bullish outlook is possible if Bitcoin can generate candlesticks per day above $ 52,000. In such a scenario, market participants can expect BTC to set a higher high and run at a psychological level of $ 60,000.
BTC / USD daily chart
On the other hand, if Bitcoin’s price breaks through the daily demand zone, which ranges from $ 36,398 to $ 38,895, it indicates a weakness among buyers. However, if the daily candlestick falls below $ 36,398, the bullish dissertation will be invalidated.
Further upward Ethereum price position
Ethereum’s price bounced off the top of the demand zone at $ 2,567, rising about 12% to a high of $ 3,045. The move also broke the 50-day simple moving average (SMA) and established a bullish outlook.
In the future, investors can expect prices to retest the 50-day SMA and run in daily supply zones ranging from $ 3,188 to $ 3,393. It is unlikely that you will move beyond the supply zone and you will need to significantly increase your purchasing pressure.
In very bullish cases, the upside of ETH can be limited to $ 3,600. This is the crossover point between 100-day SMA and 200-day SMA.
ETH / USD daily chart
While things are looking for Ethereum prices, a 50-day SMA breakdown will reveal weaknesses among buyers. In this situation, ETH could return to the daily demand zone ranging from $ 2,160 to $ 2,567.
The collapse of this support area invalidates ETH’s bullish dissertation and opens the bear door.
Ripple price looks ready for profit
Ripple prices have survived a drop in resistance levels, which indicates a breakout. The integration here could be the key to triggering rapid execution up to $ 0.85. This move represents a 10% rise and is a temporary top.
With buy-stop liquidity above $ 0.85 and $ 0.91, market makers could push up XRP prices. In very bullish cases, the price of XRP may rise, retesting the psychological level of $ 1 and collecting liquidity above it.
XRP / USD 6-hour chart
Regardless of the bullish outlook for the crypto market, if Bitcoin’s price plummets, XRP’s price will follow suit. In that case, the demand zone, which ranges from $ 0.68 to $ 0.71, plays an important role in absorbing selling pressure and ending the bearer rally.
However, a decisive closing price below $ 0.68 negates the short-term bullish outlook by lowering the lows. This development could pave the way for a further downturn to $ 0.63.
..
