As Bitcoin's halving approaches, volatility in the cryptocurrency market is intensifying. Bitcoin prices have been volatile this week, with altcoin charts depicting a sea of chaos.
Amid this increased volatility, top coins such as Bitcoin, Ethereum, and XRP present opportunities for plucky investors. We expect Bitcoin and Ethereum to continue their long-term bull run based on their current uptrend. In the case of XRP, we are nearing the point of a bullish reversal due to the prolonged price decline and ongoing decline.
So, will Bitcoin, Ethereum, and XRP price trends enter a bullish frenzy and prove the market predictions correct? From a more educated perspective, take a look at the detailed price analysis of these tokens. Let's look at.
Bitcoin is more likely to reach $100,000
Despite the recent bullish reversal, the bulls are under pressure, which is leading to a sideways trend in Bitcoin price. On the 4H chart, a bullish reversal from the 200 EMA cannot sustain beyond the 50 EMA.
trading view
Additionally, trend analysis over the past few weeks reflects a triangle formation and predicts a narrowing of Bitcoin's price range. However, a breakout of either bounding trendline could lead to a massive rally and define future trends.
Optimistically, a breakout of the bull market could push the BTC price to the $100,000 level. Supporting the bull market, the Bitcoin halving trend and increased institutional investor interest could be important catalysts.
Will Ethereum make a bullish reversal?
Following a similar route to Bitcoin, Ethereum's price trend shows a severe bear market on the 4-hour chart. The price has fallen from the $4,000 peak to the $3,200 support zone, with sellers gaining trend control.
trading view
The decline will lead to a death cross and a strong resistance trend line on the 4H chart, suppressing a bullish reversal. Currently, ETH price is trading at $3,338, with an increasing trend towards sideways.
Furthermore, the sideways trend leads to a consolidation range with an overhead ceiling at the $3,373 mark, which coincides with the 23.60% Fib level. Despite multiple bearish factors, the RSI daily line has shown bullish divergences with the past few declines in the support zone.
Therefore, with a possible 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 stage and challenge the overhead trend line. Optimistically, a breakout of the trend line could push the market value of Ethereum tokens up to $4,000.
Will Ripple make a comeback in April?
Following Bitcoin and Ethereum, the XRP token shows a likely bullish trend this week. Despite the market value falling to the 200D EMA, Ripple’s native token predicts a possible reversal to the upside.
trading view
The fall of the 50D EMA has pushed XRP price below $0.60, warning of the risk of a death cross. Nevertheless, the daily chart predicts a possible reversal in XRP price due to the 3% rise following last night’s long tail candlestick.
Considering the ability of buyers to maintain momentum, XRP price is poised to rise to the 61.80% Fibonacci level of $0.68.
What’s next for Bitcoin, Ethereum, and XRP price trends?
Despite increased volatility and volatility, market predictions for top coins remain bullish. Therefore, the continued pullback gives onlookers an opportunity to buy on the edge before the long-awaited bull market begins this April.
