BTC and ETH share the limelight while XRP struggles

  • Bitcoin price continues to climb and will next hit the resistance barrier of $ 62,944.
  • The Ethereum price has moved from one hurdle consolidation to another at $ 3,938.
  • The ripple price flash crashes near the $ 1.01 support floor but is quickly recovering and seeing a retest of $ 1.27 in its sights.

Bitcoin price is not looking back as it broke the $ 60,000 psychological level. Ethereum mirrors the movements of the major cryptocurrencies, but Ripple appears to be more volatile than the top two cryptocurrencies.

Bitcoin price remains strong

Bitcoin price has risen a whopping 44% since October 1, breaking two psychological levels, $ 50,000 and $ 60,000. Despite this exponential surge, the big crypto is showing no signs of stopping as it is currently trading around $ 62,330.

However, BTC will face minor resistance at $ 63,330 and its all-time high of $ 64,985. Therefore, breaking these two barriers will open the Bitcoin price for a resistance-free path to advance into the discovery phase.

The trend-based Fibonacci expansion level of 161.8% at $ 77.525 is the next target for Bitcoin bulls if they manage to hit a crucial close above $ 64,985. That increase would represent an increase of nearly 25% and represent a new all-time high.

BTC / USD 1-day chart

On the other hand, if Bitcoin price breaks down USD 60,000, the uptrend will be put on hold. In such an event, BTC could revisit the USD 57,300 support floor again.

In dire cases, a massive sell-off could push the big crypto to $ 55,370, where buyers can make a comeback.

Ethereum price stuck again

Ethereum price traded between $ 3,619 and $ 3,387 for approximately eleven days and showed no affinity to move higher. However, on October 14th, ETH finally exited the upper barrier and is currently struggling with the USD 3,938 hurdle, which is just below the psychological mark of USD 4,000.

While the Ethereum price strongly reflects the Bitcoin price movement, it exhibits relatively lower volatility, which can be seen when comparing the returns for October. ETH is only up 31%, but BTC is up 44% at the same time.

While the smart contract token could be slow, its rise will be steeper in the future due to several bullish fundamentals.

A key close above $ 4,000 and its all-time high of $ 4,380 will likely push ETH to $ 6,384, which coincides with the trend-based Fibonacci expansion level of 161.8%.

ETH / USD 1-day chart

ETH / USD 1-day chart

Regardless of the bullish outlook, if Ethereum price creates a crucial close below $ 3,387, it will create a lower low and likely bring it down to $ 3,200. This move will slow the ascent and tarnish the bullish outlook, but it will not invalidate the bullish thesis.

The Ripple price is fiddling but is getting back on track

Ripple price started consolidating after rising 38% from September 29th to October 10th. This roll-up was faced with abrupt selling pressure that resulted in a 10% flash crash on October 17th.

Ripple price is currently trading above the $ 1.09 platform, suggesting buyers are back in business. A continuation of this uptrend will likely allow XRP price to break the $ 1.27 hurdle again after climbing 15%.

While this is a stopover, investors can expect Ripple to hit the upper limit of the Fair Value Gap (FVG) at $ 1.60.

XRP / USD 1-day chart

XRP / USD 1-day chart

Despite the recent flash crash, ripple price appears to have rebounded above the $ 1.09 resistance line and is currently bouncing off. A successful retest will drive the XRP price up, but a failure to lower the remittance token into the support range between $ 1.01 and $ 0.96.

A breakdown of $ 0.96 will delay and jeopardize the bullish thesis. Hence, investors need to keep a close eye on these barriers.

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