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Analyst indicates where the price of Bitcoin, Ethereum and XRP cryptocurrencies will go
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The cryptocurrency analyst Manish Chhetri shared his predictions about the prices of Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) for the next few days.
According to their analysis, the three assets are at crucial times, and investors should pay attention to support and resistance levels to understand where prices could be headed.
THE Bitcoin found important support in Fib retracement of 61.8% in $92,606 last Monday, which generated an increase of 4.5% in the following three days. This level coincides with the 50-day Exponential Moving Average (EMA) in $93,588configuring a crucial reversal zone.
At the moment, BTC is trading around $97,000and if the level of $92,606 continue to function as support, the Bitcoin can try to reach the psychological mark of $100,000.
Ethereum: cryptocurrency close to a big decision
If BTC closes above $100,000the trend will be for a new high, with the aim of retesting the historical record of $108,353 registered in December 17, 2024.
Chhetri also notes that the relative strength index (RSI) is indicating an increase in bullish momentum, while the MACD also points to a possible positive turn.
However, if Bitcoin closes below $92,606the trend will be downward, potentially testing the next important support in $90,000.
THE Ethereum (ETH) has shown consolidation between levels of $3,245 and $3,522after finding support at the 50% price retracement in $3,245 at the end of December.
At this moment, the price is approaching the upper resistance in $3,522and if the ETH breaking this level, you will be able to continue your ascension towards important threshold of US$4,000.
However, the RSI of Ethereum is below 50, indicating indecision among investors. On the other hand, the MACD is about to generate a bullish crossover, signaling that the price may be preparing for a move higher. If the ETH fall below $3,245the next support would be around $3,000.
Analyst indicates where the price of Bitcoin, Ethereum and XRP cryptocurrencies will go
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Analyst indicates where the price of Bitcoin, Ethereum and XRP cryptocurrencies will go
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Analyst indicates where the price of Bitcoin, Ethereum and XRP cryptocurrencies will go
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Analyst indicates where the price of Bitcoin, Ethereum and XRP cryptocurrencies will go
