Top 3 Price Prediction: Bitcoin, Ethereum, Ripple

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple

Cryptocurrency Price Update: BTC, ETH, XRP
Bcbnews | 12/13/2024 05:05:38 GMT

Bitcoin (BTC) is facing resistance near the $101,109 level, signaling potential downside movement. Ethereum (ETH) eyes a rally if it breaks the $4,000 resistance, while Ripple (XRP) maintains support at $1.96, with risks of a decline if this level is breached.

Bitcoin Price Analysis: BTC/USDT

Current Price: ~$99,700
Key Levels to Watch:

• Resistance: $101,109 (daily level), $104,088 (next breakout target), $119,510 (all-time high potential).

• Support: $90,000 (psychological level).

Bitcoin bulls are struggling to maintain momentum after the price was rejected at $101,109 on Thursday, resulting in a 1.11% decline. The Relative Strength Index (RSI) on the daily chart is currently at 60, showing weakness after rejecting the overbought threshold of 70 earlier this week. A close below the neutral level of 50 would indicate increasing bearish momentum and a possible retest of the $90,000 support.

However, if Bitcoin regains strength and manages a daily close above $104,088, it could extend gains toward a new all-time high of $119,510, in line with the 141.4% Fibonacci extension drawn from the November low of $66,835 to the December high.

Ethereum Price Analysis: ETH/USDT

Current Price: ~$3,960
Key Levels to Watch:

• Resistance: $4,000 (psychological level), $4,488 (December 2021 high).

• Support: $3,522 (weekly level).

Ethereum’s price is nearing the $4,000 resistance level, and a decisive close above this point could ignite a 12% rally toward $4,488. The RSI on the daily chart reads 62, suggesting bullish momentum is gaining traction after a recent bounce from the neutral level of 50.

Conversely, a rejection at $4,000 would likely lead to a retest of the $3,522 support level, where bulls may attempt to stabilize the price. A sustained drop below this level could indicate deeper corrective movement.

Ripple Price Analysis: XRP/USDT

Current Price: ~$2.32
Key Levels to Watch:

• Resistance: $2.66 (recent high).

• Support: $1.96 (critical level), $1.40 (weekly level).

Ripple faced a sharp decline after hitting resistance at $2.66 on December 8. It has since rebounded from the $1.96 support level, but the RSI points downward at 62, signaling fading bullish momentum. A bearish crossover on the MACD indicator also supports a potential decline.

If Ripple breaks below $1.96, the price could slide further to the $1.40 weekly support level. Conversely, a rebound above $2.66 may pave the way for further gains, contingent on broader market strength.