As the Bitcoin halving approaches, volatility in the cryptocurrency market will increase. Altcoins are a sea of chaos, as the price of Bitcoin has been up and down this week.
Amid this rising volatility, top coins such as Bitcoin, Ethereum, and XRP offer opportunities for plucky investors. Bitcoin and Ethereum are expected to be in a long-term uptrend as bullish trends prevail. In the case of XRP, the ongoing consolidation and decline is nearing a bullish reversal point.
So, will the price trends of Bitcoin, Ethereum and XRP enter an uptrend and the market predictions will prove correct? Let’s take a look at the detailed price analysis of these tokens from a more informed perspective.
The chances of Bitcoin reaching $100,000
Despite the recent reversal of the uptrend, bulls are under pressure, resulting in Bitcoin price trending sideways. On the 4H chart, a bullish reversal from the 200-EMA cannot sustain beyond the 50-EMA.
Additionally, trend analysis over the past few weeks reflects a triangle formation that predicts a decline in the Bitcoin price range. However, a break above either bounding trend line could result in a massive rally and determine future trends.
Optimistically, a bull market breakout could push his BTC price to his $100,000 level. Support from the bull market, Bitcoin’s halving trend, and increased interest from institutional investors could be key catalysts.
Will Ethereum undergo a bullish trend reversal?
Ethereum’s price trend is similar to Bitcoin’s, with a sharp downtrend on the 4-hour chart. Sellers gain trend control by falling from the $4,000 high to the $3,200 support zone.
This decline creates a death cross and a strong resistance trendline on the 4H chart, limiting any bullish reversal. Currently, ETH price is at $3,338 and is trending sideways.
Additionally, the sideways trend leads to a consolidation range indirectly capped at $3,373, which corresponds to the 23.60% Fib level. Despite a number of bearish factors, the RSI daily line shows a bullish divergence with the recent decline in the support zone.
Therefore, ETH price reaches the $3,506 level or the 38.20% Fibonacci level with a bullish breakout possibility. In such a case, the largest altcoin will reach a decisive point and challenge the upper trend line. Optimistically, a breakout of the trend line could push the market value of Ethereum tokens to $4,000.
Will Ripple make a comeback in April?
Following Bitcoin and Ethereum, the XRP token shows a high potential for an uptrend this week. Although the market cap has fallen to the 200D EMA, Ripple’s native token predicts a possible reversal to the upside.
A downtick from the 50D EMA has pushed XRP price below the $0.60 level, warning of a death cross. Nevertheless, the daily chart predicts a possible reversal in XRP price with a 3% rise following last night’s long tail candlestick.
Given the ability of buyers to maintain momentum, XRP price is poised to rise to the 61.80% Fibonacci level of $0.68.
What will happen to the price trends of Bitcoin, Ethereum, and XRP?
Market forecasts for top coins remain optimistic despite increased volatility and fluctuations. So, as the decline continues, bearers have an opportunity to buy on the edge before the long-awaited bull market begins this April.