Bitcoin (BTC) Price Analysis
Bitcoin price remains consolidated in between $39,000 to $41,500 from the early trading hours, after multiple rejections at $40,000 levels. The price after swinging within the demand zone around $38,800, for quite a long time, surged high breaking the consolidation during the early trading hours. Ever since then, the asset is constantly attempting to maintain above $40,00, but the buyer’s pressure is failing to uplift the price.
Currently, the price after flipping from the lower demand region has not visited the region yet again. And hence a notable uptrend may be continued until the asset reaches the crucial resistance levels close to $42,500. The recent rejection from these levels and the further narrow consolidation may have weakened the rally. But eventually, the buyers may try hard to keep up the price elevated towards the upper resistance to end the weekly trade on a bullish note.
Ethereum (ETH) Price Analysis
Ethereum price is recording bullish candles for consecutive 3 days, and ranging high slowly ye steadily to test the upper resistance zone around $2800. The ETH price in the long-term is swinging within a compressed channel aiming to test the resistance zone. The asset could coil up slowly towards the pivotal zones and range further to test the upper resistance close to $3000. But eventually may not surpass the $3000 levels during the current cycle.
Ethereum price is speculated to remain below $3000 for a long time as a rejection close to these levels may drag the price below $2800 again. However, after consolidating for some time, the asset may soon range slice through the resistance levels and enter the demand zone. Here one can expect a huge influx of volume, mainly led by the bulls. Once the bulls enter the ring, the ETH price may re-ignite a bull rally towards $4000 initially and later the ATH.
Ripple(XRP) Price Analysis
Ripple price hangs within the same consolidation but with a little upswing close to the upper resistance. The asset has faced multiple rejections from the past month at the same resistance levels, reducing the volatility to a large extent. Therefore no significant jump may be expected for the rest of the week. And hence no strong breakout may be witnessed until the end of the weekly trade.
However, one can expect a significant upswing as the asset has formed a minor bullish flag pattern. Therefore, one can expect a breakout anytime in the upcoming days of this week. However, only if the price rises high and sustains close to $0.9 then only we can hope for the price to surpass $1 during the weekend.
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