- Bitcoin (BTC) has been predicted to breach a major resistance level to hit a new all-time-high together with the two biggest altcoins, Ethereum (ETH) and XRP.
- Analysts believe that Bitcoin would first have to breach the $104k level, the $106k point, and the $109k zone to attain this feat.
The total crypto market valuation has printed a 1.28% gain to reach $3.36 trillion as the “Fear and Greed Index” reaches the Greed territory. According to our market data, the altcoin Index has also receded to 30/100 from the 37/100 recorded days ago.
Currently, bullish momentum continues to strengthen with more capital entering the market. In all, analysts have hinted that the much-anticipated bull run could just be around the corner. However, three main assets – Bitcoin (BTC), Ethereum (ETH), and XRP could dominate the run.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) has printed gains across all the major trading sessions, rising by 0.11% in the last 24 hours, 6.7% in the last seven days, 22% in the last 30 days, and 7.8% in the last 90 days. According to our market data, the asset is trading at $103k with a trading volume of $51 billion.
As indicated in our recent analysis, Bitcoin is currently facing three main barriers before setting a new all-time high price. The first is found at the $104,780 level. Breaking this point would position the price ahead of another psychological level at $106,000, where investors may be tempted to take profit. From here, the asset would have to deal with the $109k resistance level.
Ethereum (ETH) Price Analysis
Ethereum has emerged as one of the strong performers this week with a whopping surge of 41%. Currently, ETH trades at almost $2,600 with a market cap of $313 billion. Fascinatingly, investors who accumulated three months ago are still at a 3% loss.
ETH is expected to continue this run as part of the reaction to the golden cross formation discovered on its technical chart last month. As indicated in our previous news coverage, the asset earlier broke the Ichimoku Cloud, setting the stage for the ongoing rally. According to analysts, ETH can breach the $2,800 resistance level and recapture the $3000 territory.
XRP Price Analysis
XRP has equally made a strong move on its weekly chart, surging by 22% to trade at $2.6. According to our market data, the asset currently has a market cap of $152 billion with a trading volume of $5.78 billion.
As recently featured in our blog post, XRP could repeat its previous cycle by surging by 5x from the current level. According to analyst JD, XRP surged by this margin within two months after its MACD and SRSI turned green simultaneously in the previous run. Basically, an all-time-high price is expected once the SRSI stays above the 80 level in the next few closes.
Meanwhile, Ripple Chief Technology Officer (CTO) David Schwartz has highlighted that Ripple’s payment system could be a huge catalyst for this rally as it would make XRP liquidity more accessible.
