- The price of Bitcoin is falling below the weekly opening, suggesting the possibility of a 10% drop to $ 17,924.
- The price of Ethereum will follow that of BTC and will test the support level of $ 993 again.
- Ripple’s price faces a third hurdle rejection of $ 0.366 and leans toward a correction to $ 0.306.
UPDATE: Bitcoin price predictions are split between those that predict a potential fund for cryptocurrencies and the BTC, and those who, like billionaire investor Mark Mobius, see the current consolidation just above the psychological level of $ 20,000 as a stop for the bears before they continue to march. to new lows. After re-testing the aforementioned round level, Bitcoin recovered on Thursday and is trading above $ 20,500 at the time of this update (13:45 GMT). As U.S. stock markets recover and trade green for the fourth straight session, cryptocurrencies could remain the same if market sentiment improves. It also made XRP price predictions a bit more bullish, as the Ripple token trades in the thinnest range. The legal saga between the payments giant and the US SEC is awaiting resolution, and the XRP community remains on the sidelines before heading in a new direction.
The price of Bitcoin is showing signs of exhaustion as it reverses the upward trend observed over the last three days. It also caused Ethereum, Ripple and other altcoins to withdraw. Looking to the future, investors can expect this smaller setback to become a fulcrum that the bulls will use to prolong the rise.
The price of Bitcoin predicts its next stage
The price of Bitcoin surpassed the weekly opening at $ 20,535 and swept Monday’s high to $ 21,068 on June 22nd. This upward trend has caused many alternative currencies to trigger exponential concentrations. However, the exhaustion of buying pressure seems to be leading to a correction that brought BTC from $ 21,705 to $ 20,416.
This 7% drop is likely to continue until BTC tests the support level of $ 19,416 again. Here, buyers have the opportunity to save the price and raise it, thus continuing the upward trend. However, a mistake could see the price of Bitcoin fall and sweep Monday’s low to $ 17,924.
4-hour chart BTC / USD
On the other hand, if the price of Bitcoin makes a higher high above the June 21 high at $ 21,705 and stabilizes above $ 21,068, it will invalidate the bearish outlook. This development could see BTC rise further to $ 23,000.
The price of Ethereum is preparing to rise further
The price of Ethereum rose 35% between June 19 and June 22 and peaked at $ 1,192. In the process, ETH produced a series of higher highs, which were then surpassed as the upward momentum disappeared.
This setback is likely to drive the price of Ethereum lower, at least until it returns to the support level of $ 993. Here, traders have the opportunity to save the ETH and trigger a rally that could extend beyond the newly established maximum swing.
4-hour ETH / USD chart
If the price of Ethereum produces a four-hour candle below $ 993 with no signs of a quick recovery, this will invalidate the bullish thesis. This development will also lead to a new test of the $ 1,219 and $ 1,283 thresholds.
The Ripple price should give you another chance
Ripple’s price has faced the $ 0.336 hurdle three times since June 13th. Every time traders have triggered a rally to try a break, it has failed. The most recent test was on June 21, resulting in a 5% decline.
This fall is likely to continue until the price of XRP reaches the support level of $ 0.306. A rise in this level combined with an increase in buying pressure will be key to triggering an extension of the current uptrend.
If the price of Ripple manages to break down the $ 0.336 barrier, XRP could revise the $ 0.401 hurdle after rising 19%.
4-hour XRP / USD chart
While things seem cautiously bullish for the price of Ripple, a four-hour closed candle below $ 0.306 will invalidate the recent rise to $ 0.336. In this case, the price of XRP could fall to $ 0.250, the next stable support floor.