As the Bitcoin Halving event draws closer, volatility in crypto markets is becoming intense. As the price of Bitcoin sees sharp swings this week, altcoins are charting a chaotic sea.
Amid this increasing volatility, major coins like Bitcoin, Ethereum, and XRP present an opportunity for strong-hearted investors. Bitcoin and Ethereum predict a longer uptrend based on the current uptrend. In the case of XRP, the prolonged consolidation and ongoing pullback are approaching a bullish reversal point.
So, will the price trends of Bitcoin, Ethereum and XRP enter a bullish frenzy and prove that the market predictions are correct? Let’s look at the detailed price analysis of these tokens for a more informed perspective.
There are increasing chances that Bitcoin will reach $100,000
Despite the recent bullish reversal, the bulls are under pressure, which has resulted in Bitcoin prices trending sideways. In the 4H chart, the bullish reversal from the 200 EMA fails to sustain above the 50 EMA.
Furthermore, trend analysis over the past few weeks reflects the formation of a triangle, projecting a contraction in the Bitcoin price range. However, the breakout of either trendline could lead to a massive rally, setting the future trend.
With some optimism, the bullish rise could push the BTC price up to the $100,000 mark. Supporting the bull run, Bitcoin halving craze and increased institutional interest could prove to be crucial catalysts.
Will Ethereum experience a bullish reversal?
Taking a similar path to Bitcoin, Ethereum price trend shows an intense downtrend in the 4H chart. With a drop to the $3,200 support zone from the $4,000 high, sellers are taking control of the trend.
The fall leads to a deadly crossover in the 4H chart and a strong resistance trendline, keeping bullish reversals in check. Currently, ETH price is trading at $3,338 with an increasing sideways trend.
Furthermore, the sideways trend leads to a consolidation range with an overhead cap at $3,373, aligning with the 23.60% Fib level. Despite the multiple bearish elements, the daily RSI line shows bullish divergence during the recent declines at the support zone.
Therefore, with the chances of a bullish breakout, ETH price could reach the $3,506 level or the 38.20% Fibonacci level. In such a case, the largest altcoin will reach a pivotal milestone and challenge the overhead trendline. With some optimism, the trendline breakout could push the market value of the Ethereum token to $4,000.
Will Ripple mark a comeback in April?
After Bitcoin and Ethereum, the XRP token has strong potential for an uptrend this week. Although the market value is below the 200D EMA, Ripple's native token is projecting a potential reversal to the upside.
With a drop to the 50D EMA, XRP price is below the $0.60 mark and warns of a deadly crossover. Nonetheless, with a 3% rise followed by a long tail candle last night, the daily chart forecasts a potential reversal in the XRP price.
Given the ability of buyers to maintain momentum, XRP price is poised for a rise to the 61.80% Fibonacci level at $0.68.
What's Next for Bitcoin, Ethereum, and XRP Price Trend?
Despite increasing volatility and fluctuations, market forecasts for major coins remain optimistic. Therefore, with the pullback underway, there is an opportunity for outsiders to buy the dip ahead of the highly anticipated April bull run.