With a bullish trend in the crypto market, Bitcoin enthusiasts are anticipating a new all-time high. Similarly, Ethereum and XRP holders anticipate a trend reversal rally to create new 52-week highs before 2024 ends.
With the high hopes of a bull run, BTC, ETH, and XRP signal a massive jump this week. So, let’s take a closer look at these top cryptos’ price analyses and find the next potential targets.
Bitcoin Breakout Eyes Above $69K
The ongoing bull run in Bitcoin crypto price, starting from the local bottom of $52,546, records a 25% surge in the last 22 days. Currently, it is trading at $65,820 and ready to challenge the overhead resistance trendline. This completes the bull cycle within the larger channel pattern and that of a bullish flag.
Based on the bullish flag pattern and the early 2024 bull run, a breakout rally will lead to a massive jump in Q4 of 2024. Considering the bull run breaks the bullish flag, the breakout rally will likely result in Bitcoin surpassing the $100K mark.
Using the projection method, a 52% surge can reach a mark of $102,194. Further, based on the Fibonacci levels, the uptrend will likely face two crucial resistances above its all-time high of $73,794. These two resistances are at 1.618 and 2.618 Fibonacci levels, at $85,832 and $105,497 respectively.
Hence, the price analysis aligns with the broader crypto market anticipations of Bitcoin crossing the 6-digit mark in 2024. In the short term, the uptrend in BTC price will likely hit the $69,471 mark next week.
ETH Crypto Price Targets $3,103
With a falling wedge pattern breakout, the ETH crypto price is ready for a massive surge ahead. The breakout run has surpassed the 50-day EMA and the 23.60% Fibonacci level at $2,582.
Currently, the ETH price is trading at $2,682 and is heading toward the 200-day EMA as the bullish momentum grows. Based on the early 2024 bull run, a similar 165% surge will boost the ETH price to beyond $5,000.
However, in the short term, based on Fibonacci levels and price analysis, there are two immediate price targets for next week. Ethereum crypto price can scale to the 200-day EMA at $2,869 or 38.20% Fibonacci level at $3,103.
Curious to know if Ethereum will reach $5,000 in 2024? Find out now in Coinpedia’s ETH price prediction for 2024 to 2030.
XRP Targets $0.73
Teasing a breakout of a long-coming resistance trendline, the XRP crypto price consolidates in a range. Trapped within the 38.20% and 50% Fibonacci levels, the XRP price shows a bullish dominance above the 200-day EMA.
Further, with the recent announcement of Ripple stablecoin and the SEC appeal deadline looming, the XRP crypto price is ready to explode. Based on the Fibonacci levels, a breakout rally of the 50% level will find immediate challenge at $0.66 and $0.73.
However, the unleashed momentum of a long-coming trendline is likely to challenge the $1 mark.