The crypto market has successfully regained momentum with top cryptocurrencies displaying a positive price action for the second consecutive day. Successively, Bitcoin, Ethereum, and Ripple tokens have recorded the highest gains this week among top altcoins.
Evaluating the current market trends, investors are closely monitoring the price action of top cryptocurrencies. With this, the million-dollar question arises “Will crypto market regain momentum or record another crypto market crash soon?” Read now to Find out the possibilities!
Bitcoin (BTC)
With an intraday jump of 3.12%, the price of Bitcoin has maintained its bullish action for the 2nd consecutive day. This highlights increased positive sentiment. Moreover, it has jumped 3.33% in seven days and has a YTD return of +12.72%.
The Relative Strength Index (RSI) has displayed a bullish convergence in the daily time frame. Moreover, the 50-day EMA constantly supports the Bitcoin price chart. This indicates an increase in the bullish action for the largest crypto token in the market.
Suppose, the bulls maintain their dominance, this could result in the price of Bitcoin heading toward a new ATH in the coming time. On the contrary, a bearish reversal could pull the price toward its important support level of $100,000 today.
Are you curious to find out answers to questions like “How high will BTC price go?” Read Bitcoin Price Prediction to explore the possible long-term sentiments!
Ethereum (ETH)
The ETH coin price is on the verge of reclaiming its $3,200 mark with a jump of 2.38% in 24 hours. With this, the largest altcoin is regaining momentum and currently has a YTD return of less than -5%. This suggests an increase in the buying pressure for it in the market.
The Moving Average Convergence Divergence (MACD) records a constant decline in the red histogram with its average hinting at a potential bullish convergence. However, the SMA indicator acts as a resistance to the Ethereum price chart, suggesting rising uncertainty.
If the market favors the bulls, the ETH coin price could retest its immediate resistance level of $3,272. Conversely, if the bears regain momentum, the Ethereum token may retest its low of $3,000.
To find out answers to questions like Will the ETH price achieve a new high this altcoin season? Read Ethereum Price Prediction!
Ripple (XRP)
Despite the recent market correction, the XRP price has maintained its bullish action by adding over 1% in 24 hours and 55.15% in 30 days. Notably, with a YTD return of +34.51%, the Ripple price is the best-performing altcoin among the top 25 projects.
The EMA 50/200-day witnessed an increase in the buying-over-selling pressure in the daily time frame. Furthermore, the RSI indicator continues hovering around the overbought range in the XRP price chart. This suggests that the Ripple price may continue gaining momentum this week.
Maintaining the price above its support level of $3 could set the stage for the price of XRP to head toward its high of $3.50. However, an intensified negative influence could result in it retesting its low of $2.75 within a short period.
Planning on stacking more XRP tokens but curious about questions like “Will XRP reach $10?” Read the latest XRP Price Prediction!
FAQs
Amid increased positive influence and a favorable market condition, the BTC price has jumped over 3.5% today.
If the bullish sentiment sustains, the Ethereum price will achieve a new ATH this year.
With increased adoption, the Ripple price could trade between $6.23 and $15.65 during the year 2030.
