As the Bitcoin Halving event comes closer, the volatility in the crypto markets grows intense. With the Bitcoin price witnessing sharp fluctuations this week, the altcoins chart a chaotic sea.
Amidst this rising volatility, the top coins like Bitcoin, Ethereum and XRP showcase an opportunity for strong-hearted investors. Bitcoin and Ethereum are projecting a longer bull run based on the prevailing uptrend. In the case of XRP, the prolonged consolidation and the ongoing pullback are approaching a spot of bullish reversal.
So, will the Bitcoin, Ethereum and XRP price trends enter a bullish frenzy and prove the market predictions right? Let’s look at the detailed price analysis of these tokens for a more educated viewpoint.
Growing Chances of Bitcoin Hitting $100,000
Despite the recent bullish reversal, the bulls are under pressure, which has led to a side trend in Bitcoin prices. In the 4H chart, the bullish reversal from the 200 EMA fails to sustain above the 50 EMA.
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Further, the trend analysis over the past weeks reflects a triangle formation, projecting a contraction in the Bitcoin price range. However, the breakout of either boundary trendline could lead to a massive rally, defining the future trend.
Optimistically, the breakout rally on the upside could drive the BTC price higher to the $100,000 mark. Supporting the bull run, the Bitcoin halving craze and the increased institutional interest might prove as crucial catalysts.
Will Ethereum Take A Bullish Reversal?
Taking a similar route as Bitcoin, the Ethereum price trend shows an intense bear run in the 4H chart. With a downfall to the $3,200 support zone from the peak of $4,000, the sellers are gaining trend control.
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The downfall leads to a death cross in the 4H chart and a strong resistance trendline, keeping the bullish reversals under check. Currently, the ETH price trades at $3,338 with a growing sideways trend.
Further, the lateral trend leads to a consolidation range with an overhead ceiling at the $3,373 mark, aligning with the 23.60% Fib level. Despite the multiple bearish elements, the daily RSI line shows a bullish divergence in the past few dips at the support zone.
Hence, with the chances of a bullish breakout, the ETH price could reach the $3,506 level or the 38.20% Fibonacci level. In such a case, the biggest altcoin will reach a pivotal stage and challenge the overhead trendline. Optimistically, the trendline breakout could slingshot the Ethereum token market value to $4,000.
Will Ripple Mark A Comeback in April?
After Bitcoin and Ethereum, the XRP token shows a high potential for a bullish trend this week. Despite the market value being down to the 200D EMA, Ripple’s native token is projecting a potential reversal to the upside.
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With a downtick in the 50D EMA, the XRP price is under the $0.60 mark and warns of a death cross. Nevertheless, with the 3% uptick followed by a long-tail candle last night, the daily chart projects a potential reversal in the XRP price.
Considering the buyers’ ability to sustain momentum, the XRP price is poised for a bull run to the 61.80% Fibonacci level at $0.68.
What’s Next For Bitcoin, Ethereum, and XRP Price Trend?
Despite the growing volatility and fluctuations, the market predictions for the top coins remain bullish. Hence, with the ongoing pullback, the sideliners are getting an opportunity to buy the dip before the highly anticipated bull run this April.
This news is republished from another source.
