Bitcoin is forming an expanding wedge formation, reaching the target level, indicating potential volatility. Ethereum is poised for an upward move, having made a strong comeback from support levels. XRP Coin, on the other hand, continues its bullish outlook by exhibiting positive formations after strong price increases in November and December.
BTC Price Prediction: Bitcoin's Direction Is Determined at These Levels!$BTC
The daily chart shows that Bitcoin has reached the $105,000 target and is consolidating there. This consolidation is creating a bullish expanding wedge pattern that signals strong volatility. The price touched the 50-day SMA at around $94,600 before turning bullish. This retracement occurred within the support area of the expanding wedge. A break above $108,000 could trigger the next upward move, while a break below $90,000 could start a deep correction.
Ethereum Price Prediction: $4,080 Target Emerges$ETH
Ethereum’s daily chart shows that the black trendline was broken in November, and the price reached the $4,080 resistance. The correction from this resistance level retested the trendline. Furthermore, the reversal candlestick pattern formed suggests increased interest in Ethereum and a positive momentum towards $4,080. The 50-day SMA supporting the reversal and the RSI sloping upwards also suggest that Ethereum needs a break above $4,080 to start a strong rally.
XRP Price Prediction: Bullish Flag Formation Continues$XRP
The daily chart of XRP shows that a bull flag formation is forming. The price correction has found support at the 38.2% Fibonacci retracement level, which is around $1.98. The second and third support levels are the 50% and 61.8% Fibonacci retracement levels measured from the November low. A break above $2.87 for XRP is likely to trigger the start of a strong upward move. On the 4-hour chart, the price is seen consolidating within a channel, which suggests a positive price move is forming. A break above $2.87 is needed for the upward momentum to continue, and the RSI remaining above the mid-range indicates bullish momentum in XRP.