summary
- BTC experienced volatility last week but has stabilized and is currently hovering around $68,500 with some analysts predicting new all-time highs.
- Despite the temporary drop, ETH has rebounded, up 36% in two weeks and trading above $3,900, and analysts are expecting further gains, especially if the asset maintains momentum above key levels.
- XRP may also rise due to technical indicators and the ongoing legal proceedings with the SEC.
What is the situation with BTC?
Major cryptocurrencies experienced Enhanced Volatility over the past few weeks has risen from around $61,000 on May 14th to over $71,000 on May 21st. Stopped With price adjustments, Which On May 24, the asset's price dipped below $67,000. However, BTC quickly regained the lost ground and has been trading in the range of $68,500 to $69,300 since then.
Underway StagnationMany analysts believe that the asset remains in bull mode and expect to see a significant upswing in the near future. As an example, X-user Titan of Crypto claims: “Breakout” teeth An upswing is expected if BTC manages to break above the resistance zone around $69,000.
prior to Analysts analyze Fibonacci extensions on the asset’s price chart to determine Predict It hit new all-time highs in the $173,000 to $224,000 range.
Such extensions are specific A tool used in technical analysis to forecast potential future price targets based on the Fibonacci sequence. key Set levels to monitor possible price fluctuations and help you make better decisions.
What about ETH?
Ethereum, the second-largest digital asset by market cap, has been one of the hottest topics in the cryptocurrency space recently, with its price skyrocketing from $3,100 on May 21 to over $3,900 on May 23. Hope reappears The U.S. Securities and Exchange Commission (SEC) may approve a spot ETH ETF.
The official go-ahead Occurred On May 24, the asset's value dipped below $3,700, but bulls stepped in over the weekend and ETH is currently trading at around $3,910 (according to CoinGecko data), a 4% increase in a day and a 36% increase in two weeks.
Many analysts believe the asset’s price has yet to start making a significant upward move, with X-user Rekt Capital noting that ETH has “spent enough time” at the $2,791 level. Historically, Rising towards $4,000. Analysts Outlined In their May 26 forecast, they claimed that a weekly close in the $3,250-$3,500 range would “confirm that bulls have regained momentum.” Recall that ETH ended the week well above the indicated levels.
XRP Price Outlook
Ripple’s native cryptocurrency has also seen price fluctuations over the past week, fluctuating between $0.50 and $0.54., It is currently around $0.52 (data from CoinGecko).
While the asset is up just 2% over the past 30 days, several analysts expect a bull market in the coming months. One example is Javon Marks. was suggested Bullish breakout This is likely as XRP is approaching a “major convergence point” with “RSI patterns currently pointing to underlying momentum in the price.”
Relative Strength Index (RSI) teeth, The speed and change of price fluctuations. When the RSI exceeds 70, it indicates that the coin is overbought and a price correction may be necessary. Latest Data show The ratio is Downfall It now shows 41 over the past week.
One of the key factors that could affect the price of XRP is the possible resolution of the lawsuit between Ripple and the US SEC. This legal battle has been going on for more than three years and entered the trial stage last month. If you would like to learn more about the case and its potential impact on the price of this asset, check out our dedicated video below.
