Ethereum’s approach to $1,400 is perceived as a signal that the trend will finally reverse. Meanwhile, Bitcoin price is also consolidating to $22,000, which it last tested on July 8. Ripple (XRP) remained stagnant relative to BTC and ETH. In this post, let’s take analyst Sahana Vibhute’s year-end predictions for these 3 cryptos.
Bitcoin, Ethereum and Ripple price predictions
BTC technical price analysis
Bitcoin is currently trading in the region where both the possibility of a recovery and the possibility of a sharp decline appear. On the other hand, the bulls and bears are failing to gain the upper hand on volume. Therefore, if one side gets tired, the probability that the other will start the rally becomes stronger.
During the sell-off in May 2022, the BTC price dropped below a long trendline. It has been heavily bearish since then. Prices deepened further with a few additional rounds of liquidity crunch. If Bitcoin fails to carry its current momentum higher, it will enter another period of decline that will plunge the price below $15,000 by the middle of the third quarter. However, there is a possibility that the price will make a big comeback after a sharp decline. Therefore, according to the analyst, Bitcoin will remain at 5-digit prices until the end of 2022.
Ethereum (ETH) price analysis
The price of Ethereum has reached the high of recent months. At this level, investors are likely to take profits. ETH price has repeatedly tried to maintain a solid rise. But the bulls have failed every time. This is because bears are willing to push the price below $700. However, Ethereum is currently preparing for the $1,400 resistance. At the time of writing, it was in double-digit green compared to the last 24 hours and last week.
Ethereum price had an opportunity to reach above $1,000 over the weekend as the bears lost strength. Thus, it formed a head and shoulders formation on the chart. At one point, the price gained downward momentum from the neckline of the formation. In light of this, Ethereum is currently far from bearish danger. Profit purchases from higher levels will cause the price to recover somewhat. The coming weeks are the most critical times to watch Ethereum.
Ripple (XRP) price analysis
Ripple’s current price has decided to reach lower support. As a result, it is gradually moving towards the last line of defense, which is around $0.2. Unlike Bitcoin and Ethereum, its volume was significantly less today. This may affect how volatile the price will be in the coming days.
XRP price is heading below the support level as there is less effort for a recovery. Then a ground is ready where it will start to rise again. But even if the price climbs to $0.21, maker delay could prevent the asset from recovering faster and falling below $0.5 by the end of 2022. cryptocoin.comAs we have covered in our analysis, the XRP price has been trading in the range of $ 0.30 to $ 0.036 for a while.
