As the bullish recovery continues, Bitcoin price is just a few dollars away from achieving a new ATH. Following this, the market has experienced parabolic price movements, with major projects heading towards new highs.
With BTC prices hitting new all-time highs, will Ethereum and Ripple crypto tokens move towards a new ATH in the future? Rising volatility has once again put investors in a FOMO-like situation regarding the short-term view of market sentiment.
Bitcoin (BTC)
Despite recording a decline of around 1% in the past 24 hours, the BTC price remained worth more than $72,000, with a 24-hour trading volume of $48.216 billion. Additionally, Star Crypto is currently trading at a 2.39% discount to ATH, highlighting its strong bullish influence.
The Relative Strength Index (RSI) continues to hover around the overbought range on the 1D time frame. This highlights the increasing buying pressure on BTC tokens in the cryptocurrency space.
If the bullish sentiment remains, Bitcoin price could reach new all-time highs in the coming hours. However, bearish action could push the price closer to the $71,000 low.
Curious whether the Satoshi-era crypto token will hit $100,000 this year? Read our Bitcoin (BTC) price prediction now!
Ethereum (ETH)
Following in the footsteps of Bitcoin, the price of Ethereum also recorded a similar price movement, adding 7.13% to the portfolio over the past seven days. Additionally, with five consecutive days of inflows, the altcoin leader is now heading towards the key resistance level at $2.8 million.
The Moving Average Convergence Divergence (MACD) shows a constant decrease in the red histogram, and its average indicates a possible bullish convergence on the Ethereum price chart. This emphasizes a positive outlook.
If the bulls continue to deliver value, the ETH coin price could break through the $2,800 barrier and head towards the $3,000 level. Conversely, a negative action could result in a retest of the $2,500 support level.
Ripple (XRP)
Following the SEC vs. Ripple lawsuit, the price of its native token, XRP, continues to struggle to stabilize its value. However, as the bullish recovery continues, Ripple price maintains its value above $0.52. This indicates that the future outlook is bright.
The Simple Moving Average (SMA) experienced a bullish crossover on the Ripple price chart on the 1D timeframe. This indicates that altcoins may continue to increase in value in the future.
If this bullish momentum continues, the XRP coin price will break through the $0.560 level and head toward the upper psychological resistance level of $0.630. On the other hand, if the trend reverses, the price could approach the key support level at USD 0.4880.
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