- Bitcoin prices may have printed the last bottom of spring.
- Ethereum was able to see a reverse trend recovery to $ 3,150.
- XRP pricing behavior is still disappointing, but holdlng could be rewarded
The crypto market may have established a bottom that you will notice in retrospect. Traders may have been selling and counterfeiting for a month. The games played may involve smart money before the market recovers. Bitcoin, Ethereum and XRP may experience more sideways pricing actions before the new rally is confirmed.
Bitcoin signals whales in the market
Magnet-like price behavior at Bitcoin prices around $ 41,300 and $ 39,700 suggests that whales may be trying to accumulate digital assets. The criteria may fit perfectly as the Bitcoin Wykov accumulation phase. Investors should consider a dollar cost averaging approach at these levels so that they don’t miss a good entry in retrospect. If the Bulls can’t keep their swing low at 37,701, the next target for Bitcoin prices is somewhere in the $ 36,000 zone.
BTC./USDT 4 hour chart
The invalidation of the Macro Bitcoin triangle is $ 28,000. If $ 28,000 is broken, traders will need to have enough steam to lower the BTC price to $ 17,000, a 40% correction from the current Bitcoin price.
Ethereum prices could shake off greedy bears
Ethereum prices are still below the $ 3,000 zone. The ETH price is currently trading at $ 2,850 as the bear validated last week’s bearish paper by tapping $ 2,750 earlier this week.
The ETH price broke the weekly trend line again, but is now trading at $ 2,850. This is the first sign of a bull rally that everyone wants. In addition, ETH prices may be caught in the end diagonal pattern of the 8-hour chart. The Relative Strength Index shows a bullish divergence in the oversold territory, further confirming that the downtrend may stop temporarily.Bullish target is $ 3,150
ETH / USDT 8-hour chart
The Ethereum price invalidation is $ 2,480. If bears are likely to break through this area, the upward trend in ETH prices may be nullified. Bears are confidently aiming for $ 2,200 and could fall 20% from current Ethereum prices.
XRP prices force traders to lighten their load
The price of XRP still looks like the most disappointing digital asset in the crypto market. Today, the Ripple price broke through the parallel trend channel as it wiped out liquidity with prices below $ 0.62. The dollar cost averaging method has the potential to benefit XRP maximists aiming for long-term macro targets.
The price volume of XRP is still falling sharply on the 4-hour chart. High prices are not surprising, as day traders are likely to be liquidated. Still, the safest invalidation level is now $ 0.54.
XRP / USDT 8 hour chart
The XRP macro target is well above the $ 3.00 zone, so discounts on Ripple prices can involve counterfeiting smart money. However, if the price of XRP exceeds $ 0.54, more genuine sales are expected. The price of XRP could drop to $ 0.44, resulting in a 35% drop from the current price.