The cryptocurrency market continues to record a lower price action during the first week of April, indicating a high possibility that the cryptographic market records 4 months of consecutive negative negotiation. The price of Bitcoin continues to fight around its level of $ 82,000, suggesting a situation of FOMO up on the market.
Following this, the best altcoins such as the Ethereum and XRP tokens had a downward week by losing ~ 1.5% in their respective assessments. However, with a strong possibility of a Bitcoin reserve bill, the chances of the global cryptography market undergoing a positive rebound are relatively high.
In particular, by assessing current market feelings, investors and the main traders are concerned about the short-term prospects of the 3 largest cryptocurrencies by market capitalization. In this article, we will explore the possible weekly Bitcoin, Ethereum and XRP price forecasts.
Crypto Market continues his downward sequence!
In the past 24 hours, the cryptography market added 0.12% to its evaluation with a negotiation volume of $ 70.96 billion. In addition, with a global ceiling of 2.65 billions of dollars, this digital asset market recorded a variation of ~ $ 20 billion with a weekly summit of 2.78 billions of dollars.
Will Bitcoin Price hold its $ 82,000 bar?
Bitcoin Price continues today around the $ 82,000 bar with a negotiation volume of $ 22.724 billion, a variation of -56.23%. In addition, it continues to negotiate itself in the triangle model within the daily time, suggesting an increasing uncertainty for the largest cryptographic token by market capitalization this week.
The divergence of mobile average convergence (MacD) displays a constant flat line in the green histogram, indicating a low purchase pressure in the cryptographic space. On the other hand, the averages record a similar price action within the daily time.
The simple mobile average (SMA) displays a similar price action by acting as a resistance to the Bitcoin price table. This highlights a mixed price perspective for the price of the BTC token during the coming week.
Suppose that a bullish reversal occurs, which could cause the BTC price for its large resistance area of around $ 88,000. However, a sustained lower action could lead to the BTC price diving to its crucial hollow of $ 78,535 in the time to come.
Ethereum Price hovers around its pivotal levels!
Ethereum Price continues today by negotiating below its level of crucial support trend of $ 1,800. With a 24 -hour negotiation volume of $ 9.438 billion, the largest Altcoin reduced 1.17% of its valuation. In addition, the domination of this crypto token has now fallen to 8.121%, which raises concerns about the possibility of an prolonged Altcoin season. With a market capitalization of $ 215.234 billion, it exchange hands at $ 1,780.16.
As the market maintains its bearish action, short -term technical indicators attend a significant drop in the Ethereum price table. In addition, with the market falling in the extreme fear, the Crypto ETH token can continue to negotiate under a negative feeling.
If the Bulls take up the momentum, the price of the piece of Ethereum could resume the momentum, violate its immediate resistance of $ 1,800 and head for its higher price target of $ 2,000. On the other hand, the increase in liquidations could draw the price to its central hollow of $ 1,500 this month.
The XRP price successfully retains its crucial support zone!
The Ripple price has formed solid support around the $ 2 bar within the daily time, highlighting a major purchase point at this level. In addition, it is currently estimated at $ 2.12 with a negotiation volume of $ 3.08 billion, a variation of 55.32% in the last 24 hours.
The MacD and SMA technical indicators have both recorded a mixed price action. While one records a bullish bullish feeling, the other displays a negative price trend. This suggests an increase in prices action in the 2nd largest Altcoin.
The chances that the price of the XRP part retains its crucial support of $ 1.54 is relatively low, but such a situation cannot be ignored. However, if the Bulls exceed bears, this could lead to this Altcoin towards its higher price target of $ 2.50 in the time to come.
Read also: Trader predicts Ethereum to reflect the Bitcoin movement in 2021, could reach $ 25,000
