Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Visa and MasterCard Recognize Partnership With Binance, As BTC Moves To $30,000
- Bitcoin enters another Bollinger squeeze as losses to $30,000 linger.
- Visa and MasterCard acknowledge partnership with Binance amid regulatory concerns.
- Ethereum price could swing to $1,750 before launching another attack on $2,000.
- Ripple price bearish formation targets a downswing to $0.48.
The cryptocurrency market is still drab as the week's trading draws to the tail end. Bitcoin seems unstable above $2,000 and will likely test $30,000 before another upswing toward the coveted $40,000.
CoinGecko shows that many assets are in the red on Thursday during the European trading session. The largest altcoin Ethereum is down 1.6% in 24 hours and trading at $1,92 while Ripple fights tooth and nail to hold above $0.6.
Visa and Mastercard Uphold Partnership Binance
Payment service providers Visa and Mastercard choose to stay with Binance despite the exchange facing critical regulatory scrutiny. The two firms are aware of the regulatory concerns ailing Binance but will keep monitory the situation.
A report by the Financial Times says that Visa has ongoing talks with Binance while MasterCard is watching to see how the exchange company will respond to regulators. At the moment, users can still fund their Binance accounts using the companies' cards.
While Visa takes the wait-and-see approach, numerous banks have already cut ties with Binance, including Barclays and Santander.
Bitcoin Price Upholds Downtrend To $30,000
The flagship cryptocurrency is poised for another move south, especially if Wednesday's support at $31,600 fails to hold. Overhead pressure seems to have been triggered after bulls lost support above $32,000.
According to an incoming Bollinger Band squeeze, the pioneer cryptocurrency is getting closer to another enormous move. It is essential to realize that this indicator does not suggests where BTC's breakout is headed. At the same time, the area between the upper and the lower boundaries is relatively a no-trade zone.
Consequently, a four-hour close below the lower curve will ascertain Bitcoin's move to $30,000. An uptrend can emerge toward $40,000 BTC continues with the downward action to the next support at $28,000.
BTC/USD four-hour chart
Ethereum Price Could Retreat To $1,750 Before Resuming The Uptrend
Ethereum came close to breaking above $2,000 earlier on Thursday but met an immense resistance at this same level. A correction occurred, sending the pioneer altcoin under $1,900. If the overhead pressure increases, investors can expect a retest of support at $1,800 and perhaps the bearish leg extending to the major support at $1,750.
For now, Ethereum's short-term technical outlook is bearish based on the Moving Average Convergence Divergence (MACD) indicator. A call to sell appeared when the MACD line (blue) crossed below the signal. The odds for a downward trend gaining traction will increase if the tool continues to explore levels beneath the mean line (0.00).
ETH/USD four-hour chart
Read Also: What's the Future of Ethereum?
Ripple Price Faces Massive Technical Breakdown To $0.48
Ripple is unlikely to close the day above $0.6, while another dip under this level may trigger many sell orders. The four-hour chart shows the formation of a descending triangle that is on the verge of a breakdown.
A break below the pattern's x-axis is needed to confirm the downswing which a spike in volume will accompany. The triangle has an exact breakout target of 20% and is equal to the distance between the highest to the lowest points of the pattern, as illustrated. Hence, the predicted slide to $0.48.
XRP/USD four-hour chart
On the upside, the pulldown to $0.48 will be sabotaged if Ripple holds above the recent support at $0.59. Here, bulls may regain balance and increase their positions creating enough volume to bolster the token toward $0.7.
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