- Bitcoin price plans a run-up towards $42,748 despite many hurdles.
- Ethereum can mimic BTC, but $3,188 caps the alt’s upside.
- XRP to offer sidelined buyers an accumulation opportunity before surging 35%.
Bitcoin (BTC) traded within a colossal demand region, the only thing inhibiting a catastrophic fall. Bitcoin bulls might catalyze a swift rally towards the nearest hurdles despite bearishness. ETH and XRP might follow Bitcoin’s trend.
BTC to Gather Momentum
BTC pierced the demand zone of $36,398 – $38,895 on 24 February. However, it recovered and avoided violating the mentioned barrier. The swift revival helped bulls maintain bullishness.
For now, Bitcoin seems ready for further upside. However, the crypto should overcome the 50-day SMA at $40.221 for stable upward actions. Such a move might see BTC climbing towards the closest resistance barrier around $42,784, leading to a 13% total gain.
Meanwhile, Bitcoin’s 4hr candlestick close beneath $36,398 will form a lower low, canceling the bullish case. That can open the door for more downswings towards the support barrier at $34,742.
Ethereum Readies for High Highs
ETH retests the demand zone at $2,160 – $2,567 after hitting it twice within the past seven days. A rebound here remains crucial for Ethereum to retest the 50-day Simple Moving Average at $2,863, a massive obstacle.
Overcoming this hurdle will clear the road for ETH to hit the $3,188 – $3,393 daily supply region. However, the zone will cap Ethereum’s upside. Any action past this area appears unlikely because of BTC’s consolidative nature plus ETH’s correlation.
Bitcoin’s slide will translate to downswings in Ethereum. A 4hr candlestick close under $2,160 will form a lower low, annulling ETH’s bullish outlook. Such a move will see the alt revisiting the barrier at $1,730. Buyers can band together at this value level for upticks.
XRP Hits at Comeback
XRP price remains below a plunging trend-line that prevented further upswings. For now, the price action can knock Ripple lower towards steady support. The 12Hr demand territory at $0.55 – $0.63 will absorb upcoming selling momentum, translating to a base for the remittance coin.
A reverse at this area will likely trigger a 35% surge for Ripple, tagging the closest resistance barrier near $0.85. Meanwhile, market makers can push higher to gather liquidity. However, violating the demand region will print a pessimistic lower low. Therefore, a 6hr candle close beneath $0.55 will translate to massive declines, invalidating XRP’s bullish thesis.