Bitcoin, Ethereum, and XRP Price Predictions: Crypto bulls unfazed by flash collapse
Bitcoin’s price movement shrugs off heavy selling pressure at first, then finds buyers at support, before resuming moderate selling pressure.
Following the rejection of an all-time high, Ethereum’s price behavior has been uneven.
The price of XRP is looking for its own bullish breakout and a chance to beat its rivals.
The price of bitcoin fell more than 5% on Thursday, but buyers came in to keep the Tenkan-Sen as a support level. The recent rejection of Ethereum has produced some hesitation, as seen by the price behavior. The price of XRP does not need to rise far to start a huge bullish breakout.
At the Tenkan-Sen, the Bitcoin price continues to attract buyers.
Since setting fresh all-time highs, the bitcoin price has showed resiliency and confidence. There were widespread fears that, as a result of Ethereum’s rejection of new all-time highs, Bitcoin would see a strong corrective fall below the $60,000 valuation range. The exception was the Binance.US exchange, which had an unusual wick that saw Bitcoin rebound to the $8,000 mark. If buyers can keep the Tenkan-Sen as a major support zone, a test of $70,000 is in the cards.
The weekend should be avoided by market participants. Whipsaws in price activity and large sell-offs are common on weekends, especially on Sunday. Keep an eye out for prolonged breaks below the Tenkaan-Sen, which might lead to a test of the Kijun-Sen at the $55,000 value zone.
If bulls force the price of Ethereum higher, short-sellers may be trapped.
During the Thursday trading session, Ethereum price behavior was nearly comedic, with sellers keeping Ethereum from breaking new all-time highs by just $2.70. (depending on the exchange data). Despite the fact that Ethereum finished 7% behind Thursday’s high and 2.5 percent below the start, purchasers were unfazed at initially. During the New York lunch hour, there was some weakness and selling pressure. Ethereum, like Bitcoin, has found consumers around the Tenkan-Sen. If bulls can keep the daily close above the Tenkan-Sen, it looks like another…