Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin Bulls Focus On The Ultimate Weekly Close At $40,000

Last Updated July 23rd 2021
3 Min Read
  • Bitcoin price looks forward to a massive 16% breakout targeting areas around $40,000.
    • Ethereum struggles with sustain the price above $2,100, hinting at another drop to $2,000.
    • Ripple must overcome the resistance at the 50 SMA to add weight to the expected upswing above $0.7.

    The crypto market closed the trading on Friday mainly in the red, led by Bitcoin price drop under $33,000. Ethereum retested support at $2,000 but gained ground above $2,100 during the weekend session. On the other hand, Ripple closed the week at support established above $0.61, paving the way for a rebound to $0.65.

    Meanwhile, some selected altcoins are flexing their bullish muscles as the new week's trading commences. For instance, EOS is up 6.6% to trade at $4.19, while Aave has grown by 5% to exchange hands at $310. Other best-performing tokens include Synthetics Network Token (up 17.7%) and OKB (up 7.3%) as per the data by CoinGecko.

    Bitcoin Price Technical Breakout To $40,000 In The Offing

    Bitcoin price opened the week's trading in the green, whereby bulls took down the resistance at $34,000. However, a barrier at $34,500 cut short the uptrend, resulting in minor deep toward $33,000.

    At the time of writing, Bitcoin is teetering at $33,615 while bulls battle to renew the uptrend and stop losses that could stretch to the support at $32,000.

    It is worth mentioning the forming symmetrical triangle on the four-hour chart. This technical pattern is regarded as both bullish and bearish. However, if Bitcoin price breaks the upper trend line resistance, a significant upswing will emanate, sending the flagship cryptocurrency toward $40,000.

    Realize that a symmetrical triangle has a precise breakout target, equal to the distance between the widest points, as illustrated on the chart.

    BTC/USD Four-Hour Chart

     BTC/USD 4-hour chart 071221

    On the downside, bearish price action will send Bitcoin to $28,000 if sellers crack the lower trend line support. A 16% breakout will send BTC under $30,000 and perhaps test support at $28,000.

    Check Out: Buy Bitcoin At $35k; Buy Some More If It Falls Further

    Ethereum Price Is Not Done With Downside?

    Ethereum lifted from support at $2,075 during the weekend session and toward the Asian session on Monday. An up leg made it above $2,100 but stalled before hitting the barrier at $2,200.

    In the meantime, Ether is back to trading below $2,100 amid a spike in selling pressure. For now, Ethereum's least resistance path is downward, based overall technical picture. Hence, the possibility of Ethereum testing the tentative support at $2,000 before another recovery attempt.

    It is essential to realize that a daily close below $2,000 will culminate in more sell orders triggered as investors enter a panic mode. Farther down, support is expected $1,800 and $1,700, respectively.

    ETH/USD Four-Hour Chart

     ETH/USD 4-hour chart 071221

    On the upside, bulls will resume recovery if support at $2,075 and $2,000 holds firmly. On the other hand, a daily close above $2,100 could call more buyers into the market, adding weight to the tail force on Ethereum for an upswing to $2,400.

    Read Also: Ethereum Price Prediction

    Ripple Price Awaits A Catalyst For Gains Eying $1

    Ripple price stayed above $0.61 last week, ensuring that $0.6 was not tested. This move allowed bulls to stamp their feet down during the weekend session. A breakout stretched the bullish leg close to $0.65, although the immense seller congestion zone at the 50 Simple Moving Average (SMA) on the 12-hour chart barred the bulls from reaching toward $0.7.

    At the time of writing, the international money transfer token is doddering at $0.63 amid a fierce tug of war between the bulls and the bears. Note that resting the support at $0.61 may be detrimental to the progress made. Besides, overhead pressure may soar, adding credence to the bearish outlook for losses toward $0.55.

    XRP/USD 12-Hour Chart

    XRP/USD 4-hour chart 071221

    The MACD has a bullish outlook based on this exact. A buy signal has been sustained since June 26, when XRP crashed to $0.51. It is worth mentioning that a break above the mean line will pave the way for gains above $0.7 and perhaps trigger massive buy orders, catalyzing an enormous breakout to $1.

    Don't Miss: Will Ripple Reach $1?

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.