Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin Resumes Parabolic Rise, Aiming For $50,000
- Bitcoin price recaptures $45,000 following a two-day winning streak.
- Ethereum price lifts above $3,000 again but still struggles with the barrier at $3,200.
- Ripple price reclaims the ground past $0.8 as bulls shift the focus to $1.
The weekend session allowed bulls across the cryptocurrency market to retake control of most tokens. Bitcoin had sustained the price action above $40,000 but lifted to $45,000 on Sunday before correcting to affirm support at $43,000. The flagship cryptocurrency is trading above $45,000 amid another push by the bulls to close the gap to $50,000.
On the other hand, Ethereum has reclaimed the position above $3,000 while bulls look forward to gaining traction above the barrier at $3,200. In the meantime, Ripple also gained ground past $0.8 and is trading at $0.82. As speculation rises across the market, prices will likely soar in the coming sessions, perhaps days.
Live price data by CoinGecko shows that the crypto market accrued more than 2% in capitalization to stand at $1.9 trillion at the time of writing. Bitcoin accounts for nearly half of the crypto market value with $858 billion.
Bitcoin Price Onto A Parabolic Rise
Bitcoin price currently battles resistance at $46,000 after recoiling from $43,000. Over the weekend, bulls flexed their muscles, proving to the world that their turn had just come. It is worth remembering that Bitcoin had plunged to $38,000 last week, but bulls came in handy to renew the uptrend.
With Bitcoin having reclaimed the position above $45,000, investors are looking forward to the ultimate breakout that would bolster the price above $48,000 and later $50,000. For now, the biggest challenge is to close the day beyond $46,000, a move that will enhance the bulls' influence in the market.
BTC/USD 12-hour chart
According to the Moving Average Convergence Divergence (MACD) indicator, buyers have the upper hand. A recently sent buy signal implies that investors are compelled to increase their stake in BTC while anticipating closing the gap to $50,000.
Ethereum Price Move Hand In Hand With Bitcoin
Last week's network upgrade, the Ethereum London hard fork boosted the cryptocurrency from lower levels around $2,500 to highs above $2,800. However, Ether lost steam which curtailed the missioned to trade above $3,000 and restarting the uptrend to $4,000.
Thanks to the still strong correlation with Bitcoin price, Ether made hast above $3,000 and brushed shoulders with $3,200 over the weekend. A correction on Monday amid the Asian session trimmed the gains to $2,900.
Nonetheless, Ether moved in tandem with Bitcoin price breakout to $46,000 during the European session to trade marginally above $3,000. ETH must be aware that only higher support above $3,100 will stop the frequent pullbacks. Moreover, a daily close above $4,000 may catapult Ethereum above $3,200 and trigger gains to $4,000.
ETH/USD 12-hour chart
The immediate downside has been protected by the ascending channel's middle boundary support. Holding above this critical level is a bullish case for Ether. On the other hand, trading below the same level could open Pandora's box as Ether revisits areas under $3,000.
Ripple Price On The Verge Of An Upswing To $1
As discussed in the previous analysis, Ripple has lifted above the 200 Simple Moving Average (SMA) resistance. Trading above $0.8 is exceptionally bullish for the cross-border money transfer token. More gains will likely explode to $1 if bulls crack the multi-month trend line capping upward price action.
Realize that the MACD has a bullish impulse that will continue to call more buyers into the market if maintained. With increased bullish pressure, trading above the weekend resistance at $0.85 will be a walk in the park.
XRP/USD Daily Chart
On the flip side, securing higher support above $0.8 would ensure market stability. In other words, bulls will have ample time to execute the next mission to $1 without worrying about support.
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