Bitcoin is forming a widening wedge rising in the targeted zone, signalling potential volatility. Ethereum is showing a significant reversal at support levels. It also looks poised for an upside move. XRP Coin is forming positive patterns after strong price gains in November and December. Therefore, it maintains its bullish outlook.
BTC price forecast: These levels will determine the direction for the leading cryptocurrency!
The daily chart shows that the Bitcoin price has reached the $105,000 target zone. It also shows that it is consolidating around this level. This consolidation has formed an ascending expanding wedge pattern, signalling strong volatility. The price also touched the 50-day SMA at around $94,600 before turning bullish. This reversal took place within the support zone of the ascending broadening wedge. A break above $108,000 could trigger the next upside move, while a break below $90,000 could lead to a deeper correction.
ETH price forecast: Positive momentum for the leading altcoin!
The daily chart for Ethereum shows that the price broke the black trendline in November. It also reveals that it reached the $4,080 resistance. A price correction from this resistance retested the black trendline. Also, it formed a reversal candle. This reversal candle shows that the interest in Ethereum is increasing. Moreover, it again signals a positive momentum towards $4,080. The 50-day SMA supports the reversal and the RSI is turning upwards. A break above $4,080 is needed for Ethereum to start a strong upward move.
XRP Coin price prediction: A bull flag formation has formed!
The daily chart for XRP shows that a bull flag pattern has formed. The price correction has reached the first support for this correction, the 38.2% Fibonacci retracement level, 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 Coin will likely initiate the next strong upside move.
The 4-hour chart for XRP Coin reveals that the price is consolidating within a channel. Thus, indicating that it is generating positive price action. A break above $2.87 is required to maintain the upside momentum. The RSI remains above the mid-level, signalling bullish momentum in XRP.
The opinions and forecasts in the article are those of the analyst and are not investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.
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