Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC and ETH show weakness while XRP remains strong

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC and ETH show weakness while XRP remains strong

Bitcoin, Ethereum, and Ripple Price Analysis: Mixed Signals Amid Market Movements

Bitcoin (BTC) continues its downward trend, hovering around $94,100 on Monday after a near 4?cline last week. Ethereum (ETH) is approaching a crucial support level of $3,207, with a potential further pullback if it closes below this point. However, Ripple (XRP) is showing strength, breaking above its upper symmetrical triangle boundary, suggesting a potential rally ahead.

Bitcoin Faces Continued Weakness

Bitcoin struggled to maintain above the $100K mark on January 7 and experienced a significant decline of 9.47% by Thursday. However, it bounced back 2.35% on Friday, finding support at the 38.20% Fibonacci retracement level of $92,493 (calculated from the November 4 low of $66,835 to the December 17 high of $108,353). As of Monday, Bitcoin is trading just below $94,100.

If Bitcoin continues to decline and closes below $92,493, it could extend its losses toward the psychological $90,000 level. The daily Relative Strength Index (RSI) reads 45, indicating bearish momentum, while the Moving Average Convergence Divergence (MACD) shows a bearish crossover, suggesting further downward pressure.

However, if Bitcoin can recover and close above the $100,000 mark, it may target the all-time high of $108,353 from December 2024.

Ethereum's Struggles at Key Support Level

Ethereum’s price has dropped over 10% last week after failing to surpass resistance at $3,730. As of Monday, Ethereum is approaching its key support level at $3,207, trading around $3,257. A close below $3,207 could lead to further declines, potentially testing the psychological $3,000 level.

The RSI on Ethereum’s daily chart is at 40, indicating bearish momentum, while the MACD also shows a bearish crossover, reinforcing the downtrend. On the other hand, if Ethereum finds support and recovers, it could revisit its daily resistance at $3,730.

Ripple’s Technical Breakout Signals Potential Rally

Ripple (XRP) saw a 10% rally after breaking above its symmetrical triangle pattern on Saturday. This technical pattern, formed from early December to early January, suggests a bullish bias. However, XRP faced rejection around the daily resistance of $2.56 on Sunday and is trading around $2.51 as of Monday.

If XRP closes above $2.56, the technical target of this breakout pattern could be $3.63. However, traders should remain cautious as the rally could slow down after a 17% gain, especially if Ripple tests the psychological $3.00 level, where profit-taking might occur.

With an RSI of 59, XRP shows bullish momentum, and the MACD’s bullish crossover further supports the potential for an upward trend.

Conclusion

As the market shows mixed signals, Bitcoin and Ethereum remain under pressure, with key support levels on the horizon. Ripple, on the other hand, stands out with its breakout above the symmetrical triangle, indicating a possible rally. Traders should closely monitor these key levels and indicators as the week progresses.