Bitcoin, Ethereum, Ripple: Top 3 Price Predictions BTC Shows a $5,000 Range
In the last seven days or so, the price of Bitcoin's (BTC) price has recorded lower highs. The same trend was seen among major altcoins. Though Altcoins show a not-so-impressive outlook, there could be some relief for the investors. This could be due to the massive cool-off in euphoria and sentiment.
Furthermore, the positive outlook in funding rates and liquidation of the overleveraged short positions will allow the market to further cool down. Here is what you can expect from Bitcoin and the other two major altcoins — Ripple and Ether — in the next week or so.
Bitcoin Price to Stay In the Range of $5000
The Bitcoin price managed to create a $5,000 macro market range after continuous weekly closes below $65,000, and the bulls managed to prevent from going below the $60,000 mark. With the Awesome Oscillator (AO) indicator posting red histograms and the Relative Strength Index (RSI) going below the mean level of 50, the chances are it might see another decline.
The growth in seller momentum and the drop in Bitcoin price between $60,600, which is the liquidity pool, and $59,005, which is the intra-day low of March 5, would mean that bulls would want the opportunity to buy it at close to $50,000.
Ethereum Might Just See a Rise of 25%
Ethereum price has seen a bearish trend in the last few days. However, the price movement has consolidated into a descending wedge pattern since March 12. Therefore, you can expect a bullish reversal technical formation to take place after a decisive breakout.
As a result, the target objective will see the move to $4,250 which represents a 25% change. This is measured by analyzing the wedge health and then superimposing it at the potential point for a breakout. The Awesome Oscillator (AO) indicator posted green histograms and the Relative Strength Index (RSI) went below 50, which shows growing bullish sentiment.
Ripple Price Continues to See Pressure of Bearish Pressure
As for Ripple, we'll likely see a downward trend with the bearish activity waiting to happen after the XRP price goes up. With a steady decline in RSI, there is a falling momentum.
Furthermore, the red histogram bars which are in negative territory paint a picture of a bearish outlook. If it goes below the $0.5000 psychologically, we could see a fall in the Ripple price down to the $0.4500 threshold.
Bottom-line
While these predictions can help investors shape their strategies, keep in mind that carrying out relevant research is necessary. It is best to take advantage of the Alpha AI trading bot and other such resources to conduct technical and fundamental analysis to come up with the right decisions.