- Bitcoin prices are trading at the $ 42,000 level, indicating a sign of a bottoming out process.
- Ethereum prices need to clear the 200-day SMA for $ 3,431 to embark on a 15% uptrend.
- Ripple prices lack volatility and their potential for rise is limited to $ 0.826.
Bitcoin prices are floating around important laterally moving barriers, suggesting that large-scale movements may be right there. Ethereum has already shown the prospect of a recovery rally while XRP is loose. Some altcoins have already risen, showing strength and optimism.
Bitcoin prices position themselves for a rapid rise
Bitcoin prices have been trading around $ 42,000 for almost a week. Big cryptos can form a bottom after a third dip into a liquidity pool of less than $ 41,492. This swing low can cause an uptrend that penetrates above the support floor above.
The resulting rally aims to retest the $ 45,678 resistance barrier after a 10% rise. In some cases, the run-up can extend to $ 48,027 or the same level of 200-day moving average (SMA).
In total, BTC can make a profit of 15% if the bullish scenario mentioned above is carried out.
BTC / USD 4-hour chart
Bitcoin prices look good, but the lower liquidity pool’s $ 39,057 breakdown creates lower lows and invalidates bullish papers. This development could cause BTC to crash for an additional $ 30,000.
Ethereum prices are preparing for a bailout rally
Ethereum prices follow the Bitcoin procedure and are currently avoiding the $ 3,153 barrier. ETH has recovered on it, but it may slice it to generate another swing row and complete the bottoming process.
This development of ETH could cause an upward trend to $ 3,629, which constitutes a 15% surge, closely following BTC. In some cases, the rally could break through the immediate resistance barrier and escape the $ 3,852 hurdle and the liquidity above it. Cumulatively, if an optimistic scenario is executed, ETH can see a potential profit of 22%.
ETH / USD 6-hour chart
Despite optimism, Ethereum prices need to break through the 200-day simple moving average (SMA) at $ 3,431 to achieve a 22% rise. Failure to pull through can result in a 6% crash at the $ 2,963 support level.
A 6-hour candlestick just below this barrier creates a lower low and invalidates the bullish dissertation. This swing glow could be the cause of the down move that pushes ETH down to $ 2,764.
Ripple price completes its downside target
Ripple prices have collected less than $ 0.749 in liquidity since the January 6th flash crash. Since then, XRP prices have remained at about the same level. This integration could be a bottoming out pattern before the downtrend attempts to reverse.
Unlike BTC and ETH, the price of XRP seems to lack volatility, but investors shouldn’t hold their breath. We expect the uptrend to be limited to $ 0.823.
XRP / USD 4-hour chart
If buying pressure fails to push up the Ripple price, it is likely to revisit the $ 0.705 support level. A 4-hour candlestick just below this barrier creates a lower low and invalidates the bullish dissertation.
With such developments, the price of XRP could drop to $ 0.604, allowing buyers to try another uptrend.