The crypto market today is walking on a tightrope as the investor sentiment stays neutral territory, with the Fear & Greed Index at 48. The total valuation of the industry has dipped slightly to $3.26 trillion. Trading volumes, too, have taken a hit, down by 9% indicating cautious moves by market participants.
Talking about blue chip coins, Bitcoin is changing hands at $104,991.34, while Ethereum trades at $2524.22. XRP is slightly down at $2.16, holding on to gains from earlier in the week. The business appears to be in a consolidation phase, with volumes reducing and price ranges tightening.
Bitcoin (BTC) Price Prediction
Bitcoin price continues to hover around the $105k mark, showing resilience despite geopolitical instability. On the charts, BTC has formed a symmetrical triangle, hinting at a potential breakout, although the direction remains uncertain.
It is worth noting that the support lies at $103,600, and a break below this could drag BTC toward the psychological $100k mark. Contrarily, the bulls must reclaim their foothold at $105,500 and aim for a breakout toward $108,000, where significant resistance awaits. However, with intraday volume at $48.42 billion, down nearly 9%, any upside may be capped unless fresh momentum arrives.
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Ethereum (ETH) Price Prediction
Ethereum has been range-bound, with prices slipping 0.54% to $2524.22. However, whale wallets have been actively accumulating, which is a healthy sign for a possible breakout. Traders should take note that the 24H low of $2469.05 serves as immediate support.
If ETH price holds above $2,500, a short-term rally to $2,600 is possible. Conversely, falling below $2,460 could take ETH back toward the $2,400 demand zone. That being said, the drop in 24H volume by 17.65% may reflect weakening conviction among retail traders.
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XRP Price Prediction
XRP is showing signs of strength amid broader market uncertainty, down only 0.11% in the past day. Its relatively stable price at $2.16 comes in the wake of positive sentiment from the Canadian XRP ETF approval, which has kept the asset in the spotlight.
Technically speaking, XRP is trading close to resistance at $2.18. A bullish breakout could push it toward the $2.30 region. On the downside, support rests at $2.12, and a slip below that may open the gates to $2.00. Despite the price stability, the 14.94% drop in volume signals hesitation in the rally’s continuation.
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FAQs
BTC price today is at $104,991.34 with an intraday change of -0.47%.
Yes, historical trends show that whale accumulation often precedes a price rally.
