The Bitcoin price has achieved a new ATH during the early Asian market today. This has resulted in the altcoin market experiencing a similar price trend. With fear and greed indicators turning extremely bullish, the crypto space hints at a potential bull market in the coming time.
With increasing volatility in the crypto market, is this a good time to invest in the top cryptocurrencies? In this article, we have covered the market sentiments and possible price analysis of Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) crypto tokens.
Bitcoin (BTC)
The BTC price has added 1.03% to its valuation in the past day with a trading volume of $67.041 billion. Moreover, it has jumped 4.01% over the past week and 18.92% during the past 30 days.
The Simple Moving Average (SMA) is on the verge of recording a bullish convergence in the 1D time frame with its MACD indicator recording a similar trend trajectory in the Bitcoin price chart. This highlights a positive sentiment for the star crypto.
Maintaining the price above its support level of $73,750 will set the stage for the BTC price to head toward its $80k level during the upcoming weekend. On the flip side, a trend reversal could pull the market leader toward its $70k range.
Curious to understand the possibilities of the star crypto achieving $100k? Read CoinPedia’s Bitcoin (BTC) Price Prediction article until 2030!
Ethereum (ETH)
With a jump of ~8%, the Ethereum price is one of the best-performing altcoins on the first page for today. Notably, it has added 15.01%, resulting in it reclaiming the $2.8k level.
The Relative Strength Index (RSI) has recorded a sharp rise in the Ethereum price chart with its average trendline experiencing a bullish crossover. With a constant rise in the bullish sentiment in the EMA 50/200-day, the altcoin leader highlights increased buying pressure.
If the market continues favoring the bulls, the ETH coin price will head toward its upper resistance level of $3,200 this month. Conversely, if the bears outrun the bulls, the Ethereum price could retest its support level of $2,500.
Ripple (XRP)
The XRP coin price has added 2.64% in the past day and 5.62% over the past week. Further, it is currently valued above the $0.54 mark. This has resulted in it recording a 2-month high.
The Moving Average Convergence Divergence (MACD) has experienced a constant rise in the green histogram with its averages showing increased positive influence. This suggests that the XRP token may continue gaining value during the upcoming time.
If the bulls continue gaining momentum, the Ripple price will head toward its local high of $0.630. On the contrary, if the bears dominate the crypto space, this altcoin may retest its lower support level of $0.50.
To understand the possibilities of this altcoin reclaiming the $1 mark, Read our Ripple (XRP) Price Prediction article!
FAQs
With a potential surge, the BTC price may surpass the $300k mark by 2030.
The sentiments are extremely bullish, meaning that the ETH price will continue gaining value.
The Ripple price may achieve a high of $1.36 by next year.
