Price Prediction for Bitcoin, Ethereum, Ripple
Bitcoin has had a major sell-off in the last four days and has been attempting to consolidate and recover. Some altcoins have fared far better in terms of recovery than Ethereum and Ripple.
Bitcoin fell 12% on August 18 and August 20, reaching a swing low of $20,721, the fourth equal low created since July 18. Regardless, a crypto market recovery rally appears likely. While different governments take different tactics to regulate the crypto industry, Bitcoin appears to be poised for a comeback before its next trip.
Because the Australian government agrees that more than one million people have engaged with cryptocurrencies since 2018, it is pursuing a different approach to regulating the crypto market. The Australian federal government is claimed to be developing a “token map” for crypto assets as part of this endeavor.
Ethereum Price
The price of Ethereum fell around 19% in response to Bitcoin’s cue. However, as ETH is already retracing, the recovery appears to be considerably shorter. Investors should expect a slight increase to $1,175 to compensate for the inefficiency and initiate reversal.
In certain unusual situations, this advance could continue to $1,730 and constitute a local top before reversing and continuing its downward trend. Regardless of where the local top occurs, Ethereum should retest the negative imbalance of around $1,474.
Although the recovery goals appear vague, a flip of the $1,530 barrier will signal a comeback in buying. On the other hand, a higher high above the current swing mark at $2,139 will falsify the bearish thesis for the Ethereum price.
Although the recovery has lifted Bitcoin to $21,522, the upside appears to be limited at $22,600. A rejection at the level above, followed by a sweep of the $20,732, appears likely.
Ripple Price
Ripple’s price is $0.310, with no clear direction in mind. The only thing that can propel the XRP price higher is a Bitcoin recovery surge.
In such a circumstance, the remittance coin will likely make a run for the $0.370 resistance level. The recovery rally should establish a local high before reversing and potentially switching the liquidity below the equal lows formed at $0.396, as shown in the chart.
