Top 3 Bitcoin, Ethereum, Ripple Price Predictions: Wait-and-Take Approach Seems Cautious

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Bitcoin price has yet to prove its ability to strengthen after finding support below $26,200. Ethereum price has broken out of the symmetrical triangle with no directional bias, but the odds favor the downside. Ripple price needs to break above multi-month resistance at $0.542 for further gains.

The price of Bitcoin (BTC) remains below the slow-moving simple moving average (SMA), suggesting a lack of buy-in despite the common belief that US regulators’ warpath will not cause global problems for the economy. cryptography. The crypto king’s mood has affected the crypto top ten, including Ethereum (ETH) and Ripple (XRP).

Also Read: SEC Triggers Crypto Bloodbath as Coinbase, Kraken Braces for Token Delistings After Binance Lawsuit

Bitcoin price has yet to show its hand

Bitcoin (BTC) price has recovered from nearly 10% losses following the regulatory attack on Binance. While most rallies point to new momentum, the case is different for BTC now, as the crypto king remains below the foot of the 50-day SMA at $27,618. In particular, this obstacle has dominated since May 7.

Unless the bulls turn the 50-SMA into support, selling pressure from this level could push Bitcoin price back to retest multi-week local support at $25,659, where buyers could regroup for the fourth time. .

Additionally, Bitcoin price would need a lot more momentum for a break above the supply zone indicated by the red band on the chart. Selling pressure from this zone should nullify any bullish attempts. Considering that the Relative Strength Index (RSI) was reaching south to show declining momentum, BTC holders and traders may have to wait longer.

BTC/USDT 1-day chart

Nonetheless, the bulls overpowering the bears would catapult Bitcoin price past the seller-dominated zone to sweep liquidity above.

Also Read: Bitcoin Price Rebounds to $27,000 Even as SEC Files Freeze Binance.US Assets

Ethereum Price Lacks Directional Bias

Ethereum (ETH) price has filled a symmetrical triangle after weeks of consolidation with rising volatility. However, contrary to expectations, the largest altcoin still lacks directional bias after escaping the technical formation.

A breakout could be imminent for ETH if Ethereum price breaks above the 50-SMA at $1,857, marking the first step north. However, a daily candlestick close above the $2,128 resistance level would only validate the bullish outlook. Nevertheless, this is highly unlikely in the near term given the lack of momentum indicated by the RSI at 49 and heading south. Confirmation should be sought above the $1,949 level.

ETH/USDT 1-Day Chart

Conversely, a drop in Ethereum price below the 100-day SMA could spell the end for ETH bulls in the near term, as buying pressure from this provider level continues to bode well for ETH.

Also Read: Ethereum Layer 2 Tokens Rally as Consumer Cryptocurrencies Crash Under SEC Regulatory Crackdown

Ripple price faces a congested path to the south

Ripple (XRP) price has given up its impulsive move north, falling around 10% from the intraday high of $0.547 recorded on June 4. Notably, the correction comes as ETH continues to find selling pressure to cap its rally around the $0.542 level. Notably, this zone limited the upside of XRP for months, with the subsequent correction driving the market value of the discount token down to double-digit percentages.

Failure to turn it into support could see Ripple’s price drop towards the demand zone before initiating a recovery rally backed by the demand zone. Nonetheless, the Relative Strength Index indicates waning momentum that could see the market value of XRP plummet.

XRP USDT 1-Day Chart

On the other hand, an influx of buyer momentum could see Ripple price break above the immediate barricade at $0.542, paving the way for more gains.

Also read: Ripple price eyes 25% breakout as XRP community anticipates June 13

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