The cryptocurrency market has jumped 0.92% in the past 24 hours and is currently valued at $2.34 Trillion. With this, top projects have gained significant valuation to their respective portfolios this week especially top projects such as Bitcoin, Ethereum, and Ripple.
Will the crypto market repeat the historic market trend and conclude the month of Uptober on a bullish note? In this article, we have covered the short-term price prospects of the top 3 cryptocurrencies!
BTC Price On The Verge Of A Major Breakout?
With a jump of ~1% in the past 24 hours, the Bitcoin price is hovering close to its $69,000 level. Moreover, the market leader has jumped 8.27% over the past week and 61.37% this year.
The Relative Strength Index (RSI) continues hovering close to its overbought range in the 1D time frame. Further, with its EMA 50/200-day displaying a bullish curve, the market leader hints at a bullish outlook in the coming time.
If the market continues gaining momentum, the Bitcoin price will retest its ATH of $73,750.07 during the upcoming time. On the contrary, if the bears regain power, the BTC crypto may plunge toward its lower support level of $60,000.
Curious if the BTC price will hit $100k this year? Read our Bitcoin Price Prediction to decode!
Ethereum Price Records Consolidated Price Action!
Amid increased market volatility, the ETH price has held its value above the $2,600 level. Further, it has jumped 7.62% over the past week. With a market capitalization of $317.650 billion, it is currently valued at $2,634.21.
The Moving Average Convergence Divergence (MACD) has displayed a constant rise in the green histogram in the 1D time frame. With its SMA indicator supporting the price trend, the altcoin leader, Ethereum price may continue gaining value in the coming time.
Suppose, the bulls outrun the bears, in that case, the ETH price may retest its resistance level of $2,800. On the flip side, if the bears regain power, the price could retest its low of $2,400.
Ripple Price Enters Crucial Watch Zone!
Despite recording increased price volatility in the crypto market, the XRP price has displayed a neutral price action over the past seven days. Moreover, it has dropped 7.34% during the past 30 days and has a YTD return of 13.63%.
The EMA 50/200-day has displayed a constant decline in the 1D time frame. Further, its RSI indicator has recorded a neutral trend. This suggests a mixed price sentiment for the altcoin in the crypto market.
If the bulls push the Ripple price above the $0.560 level, the altcoin may prepare to head toward its upper resistance level of $0.630. However, a rejection could pull the XRP coin price toward its lower support level of $0.480.