cryptocoin.com We include price predictions for Bitcoin, Ethereum and Ripple. BTC and ETH lead, while XRP lags behind. Bitcoin price continues to set new highs as buyers emerge and show interest. Ethereum price is locked at $5,000 and showing no signs of slowing down. Ripple price needs to turn the $1.41 support base to revisit $2.
New highs in Bitcoin (BTC)
Bitcoin price is hovering in a crucial demand zone that must hold for the uptrend to continue. The resurgence of buying pressure pushing BTC to close above its daily level will confirm the resumption of the uptrend and indicate the arrival of new highs. Such a move will cause Ethereum and Ripple to rise as well. Bitcoin price expects bullish momentum. Bitcoin price entered the demand zone of $63,805 to $67,162 after setting a new high at $68,778 on Nov. According to analyst Akash Girimath, a daily close above $67,162 will confirm the start of a new uptrend and propel the crypto to the 161.8% Fibonacci extension level at $77,908. This increase will constitute a 17% increase from the current position. In a highly bullish and long-term scenario, BTC is likely to establish a high at $100,000 or the 261.8% trend-based Fibonacci. This will be development history as the Bitcoin price will enter the six-digit region for the first time.
On the other hand, if Bitcoin price fails to close above $67,162 but instead produces a daily close below $63,805, it will indicate that buyers are lost. In this scenario, BTC would revisit the $65,000 immediate support level or the $60,000 barrier in dire situations where buyers could bounce back.
Ethereum price continues to rise
Ethereum price is currently following in the footsteps of the leading crypto as it retreated after setting a new high at $4,849 on Nov. A potential increase in buying pressure will push ETH towards the psychological barrier of $5,000. In an optimistic scenario, this increase could extend to $6,387, which would coincide with the 161.8% Fibonacci extension level.
Regardless of the bullish outlook, if Ethereum price breaks below the psychological $4,000 level, it will revisit the stable support level of $3,600. Although this move does not invalidate the bullish thesis, it will delay the rise.
Ripple price, on the other hand, finds time before another rise. Ripple price is different from Bitcoin or Ethereum as it is facing a resistance area ranging from $1.31 to $1.41. This supply region is crucial and stands in the way of XRP’s growth. Although XRP price started its rise when it broke a symmetrical triangle on November 3, it must produce a daily close above $1.41 to confirm the move to $1.97, or roughly $2. The conservative target for the technical formation is likely at $2, while an increase in buying pressure could label the 261.8% Fibonacci extension level at $2.32, leading to an overshoot. In this case, ripple price could extend the rise and run from its all-time high around $3.31.
While things are not that easy for Ripple price compared to BTC and ETH, if it doesn’t go above $1.41 it will push it even harder. According to the analyst, this move could result in a correction that retests the $1.17 support base or the 50% Fibonacci retracement level at $1.13. Here, XRP buyers can give the bull rally another chance.
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