Crypto Crash!? Top 3 Price Prediction Bitcoin (BTC), Ethereum (ETH), Ripple (XRP): Cryptos Hang By A Thread As Bulls Disappear

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  • Bitcoin price slowly descends below the 200 three-day SMA, indicating a lack of buying pressure.
  • Ethereum price looks ready to breach the support confluence, extending from $2,800 to $3,000.
  • Ripple price reenters the buy zone, extending from $0.626 to $0.689, suggesting that there is still hope.

Bitcoin price has slid below a crucial support level slowly indicating that the sellers are overwhelming the buyers into a slow death. Although the last two times BTC tagged this barrier, it resulted in a bullish move, this time around, things are different and could head south. Ethereum, Ripple and altcoins could see a similar bearish fate.

Bitcoin price at wits’ end

Bitcoin price set up an ascending parallel channel on a three-day time frame after connecting the three swing highs and three swing lows since January 13. The last two times BTC dropped lower, it tagged the 200 three-day Simple Moving Average (SMA) and bounced off aggressively.

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However, this time, BTC is slowly breaching the said SMA and is heading close to the ascending parallel channel’s lower trend line. Until a breakout from the lower trend line, the setup is bullish and could see Bitcoin price bounce from it.

The resulting upswing could see BTC retest the 50-day and 100-day SMA at $42,074, $41,076. Clearing these hurdles could see the big crypto push toward the yearly open at $46,198 and in some cases, the $50,000 psychological level.

Bitcoin Price Prediction | BTC/USDT

BTC/USDT 3-day chart

A daily candlestick close below the $34,752 support level will invalidate the ascending parallel channel and the bullish thesis.

Ethereum price at make-or-break moment

Ethereum price action seems to be degrading with the recent downswing in Bitcoin price. The bears have pushed ETH lower into the support cluster, extending from $2,800 to $3,000. This footing is significant since it contains a demand zone and a bullish crossover of the 50-day and 100-day Simple Moving Averages (SMAs).

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So far, ETH has pierced through both the SMAs and is edging closer to the lower limit of the said demand zone. However, a quick recovery followed by a bounce is likely to result in an upswing for ETH.

The resulting move could cause ETH to retest the 200-day SMA at $3,495 and the low-volume node at $3,703.

Any uptick beyond these levels will require massive bullish momentum spikes and is highly unlikely without the big crypto’s support.

ETH/USD - Ethereum Price | Price Of Ethereum

ETH/USD 1-day chart

A daily candlestick close below the support cluster’s lower limit at $2,820 will create a lower low and invalidate the bullish thesis. This development could crash ETH to retest the next high-volume node present to the downside at $2,584.

Ripple price approaches a launching pad

Ripple price has taken another U-turn and reentered the buy zone, extending from $0.62 to $0.68. This move is likely to push XRP price to retest the 70.5% retracement level at $0.657 before triggering an uptrend.

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The resulting uptrend could push XRP up by 17% to retest the 2022 volume point of control at $0.772, where the trade volume for Ripple was at its highest. If the remittance token manages to flip this hurdle into a footing, there is a good chance the run-up will continue to and tag the $0.854 hurdle. Failing to do so could result in a local top formation.

Ripple (XRP) Price | Price Of Ripple

XRP/USD 1-day chart

On the other hand, if the Ripple price breaks below the $0.601 support level and produces a lower low, the bullish thesis will face invalidation. In such a situation, XRP might crash to the $0.548 support level before stabilizing and reestablishing its directional bias.

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