Cryptocurrency analyst Sahana Vibhute examines the charts of Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) and sets expected levels amid uncertain market movements. We have prepared Sahana Vibhute’s analysis for our readers.
Bitcoin (BTC) analysis
As I mentioned earlier, Bitcoin price may continue to flow towards lower support again as the price follows the dead cat bounce pattern. The dump seems to be fueled by the LUNA price rally and so once market conditions settle down, BTC price could recover by hitting the lower support near $28,000.
However, to mitigate the possibility of a downtrend, BTC price may consolidate until the start of next week’s trade, but maintain a slightly downtrend. Currently, resistance is around $31,000 and support is around $27,000, so the price could spill in the direction the pivot levels are broken.
Ethereum (ETH) analysis
Ethereum price recovered above $2,000 while BTC price remained comfortably above $30,000. As you can follow from Cryptokoin.com news, after reaching levels below $1,800, the price quickly regained its position above $1,900, where it was consolidated for a while.
However, even after the recent bounce above $2,100, the price continues to consolidate just above the $1,973 to $1,928 pivot zones. Therefore, if ETH price turns around before reaching $1,973, it could lead to a significant upside break and drop as low as $1,800 after navigating the pivot areas for a while.
Ripple (XRP) analysis
Ripple (XRP) price has emptied heavily and dropped below $0.34 amid recent turbulence in the crypto space. However, the price reached the required levels at $0.42 and resumed a significant uptrend towards $0.45 but quickly bounced back to previous levels.
However, XRP price started to drop heavily from $0.42 and is currently on the verge of losing its $0.4 position. XRP price is currently hovering between resistance and support at $0.42 and $0.39, respectively, and a price action in either direction could ignite relevant trends.
