The crypto market has displayed a strong bearish price action overnight. Following this, top crypto tokens have plunged below their important support levels. Moreover, Bitcoin, Ethereum, and Ripple tokens have recorded a similar price action, resulting in increased bearish sentiment.
Considering the present market trends, top investors and institutions are closely monitoring the price action of these crypto tokens. Planning on investing in these tokens but concerned about their short-term prediction? Read now to Find out the possibilities!
Bitcoin (BTC)
The price of Bitcoin has lost 2.77% in 24 hours with a trading volume of $37.231 billion. Moreover, it has dropped 5.38% over the last seven days. However, with a market cap of $1.962 Trillion, the BTC price has a market dominance of 57.68%.
The Moving Average Convergence Divergence (MACD) shows a rising red histogram with its averages displaying a negative crossover. However, the EMA 50-day supports the Bitcoin price chart. This suggests mixed price sentiment for the largest crypto token.
If the bulls maintain the price of Bitcoin above the $100k mark, it will prepare to head toward its upper high of $108,000 in the coming time. Conversely, a bearish price action could result in it plunging toward its low of $92,000.
Are you considering investing in BTC crypto tokens but are confused by questions like, “How high will Bitcoin go?” Read our latest Bitcoin Price Prediction!
Ethereum (ETH)
The ETH coin price has maintained its bearish price action by dropping 4.49% in 24 hours and 6.52% over the last seven days. Furthermore, the largest altcoin has plunged 10.35% over the past month and has a YTD return of -7.08%.
The Relative Strength Index (RSI) has recorded a sharp drop toward the oversold range in the daily time frame. Furthermore, the SMA indicator witnesses a similar price action in the Ethereum price chart. This suggests an increase in the negative influence of the market.
Suppose, the bulls regain momentum, in that case, the ETH price could retest its upper high of $3,300. On the flip side, if the bears gain dominance, this could pull the price toward its important support level of $3,000.
Wondering whether the ETH price will achieve a new high during the altcoin season this year? Read Ethereum Price Prediction to understand the possible long-term mysteries!
Ripple (XRP)
The Ripple price has dropped 1051% in 24 hours and ~2% over the past week. However, the altcoin has jumped 17.79% over the last 30 days and a YTD return of +36.79%. This highlights a strong bullish outlook in the long-term prospects.
The EMA 50/200-day displays a constant uptrend in the daily time frame. On the other hand, the MACD indicator witnesses a constant decline in the red histogram, highlighting a rising bearish sentiment for the 03rd largest cryptocurrency in the market.
If the bulls regain momentum, the price of XRP token could retest its upper resistance level of $3.50. On the contrary, an intensified bearish action could pull the price toward its low of $2.50 this week.
Planning on stacking more XRP tokens but are concerned about its long-term prospects? Read XRP Price Prediction to uncover the possibility!
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FAQs
The BTC price could reach as high as $170,000 by the end of 2025 if the bullish sentiment sustains.
Considering the present market sentiment, it is highly unlikely for the top altcoin to achieve this target price anytime soon.
If the bullish sentiment sustains, the XRP coin price could achieve the $15 mark by the year 2030.
