Bitcoin, Ethereum, Ripple Price Predictions: Bitcoin Breaks Out of Falling Wedge

Bitcoin, Ethereum, and Ripple are showing promising signs in the crypto market, with Bitcoin leading the way by breaking above a falling wedge pattern, indicating a potential bullish move. Ethereum’s price is currently supported at $3,288, the 61.8% Fibonacci retracement level, while Ripple is encountering resistance at $0.500.

Bitcoin’s price surge above the falling wedge on Monday has seen it trade up by 1.24% at $63,571. If Bitcoin manages to close above the daily resistance level of $63,956, it could potentially rise by 5% to retest the next weekly resistance at $67,147. The Relative Strength Index (RSI) and the Awesome Oscillator in the daily chart are currently below neutral levels, but a sustained bullish trend would require them to stay above these levels. A bullish scenario could see Bitcoin extend its rally by 6% to reach $71,280, but a close above $58,375 with a lower low might indicate bearish sentiment, leading to a 3% decline.

Ethereum, on the other hand, has found support at $3,288 and rebounded by 6.7% from the 61.8% Fibonacci retracement level to trade around $3,501. Maintaining this support could propel Ethereum’s price by 6% to revisit its previous high of $3,717. Similar to Bitcoin, Ethereum’s RSI and Awesome Oscillator need to stay above neutral levels for a sustained bullish trend. Closing above $3,717 could lead to a further rally of 7% to reach $3,977, while a close below $3,288 might signal a bearish trend, potentially causing a 13% decline.

Ripple’s price is currently at $0.478, below the daily resistance level of $0.500. Breaking above $0.500 could see Ripple rise by 7% to $0.532, its previous high from June 5. For Ripple to sustain a bullish trend, the RSI and Awesome Oscillator must surpass their critical thresholds. A close above $0.532 could extend the rally by 9% to $0.581, but a close below $0.450 would invalidate the bullish outlook, potentially leading to a 7% decline.

In conclusion, the crypto market is showing signs of potential bullish moves across Bitcoin, Ethereum, and Ripple, but key resistance and support levels will determine the direction of their price movements in the coming days.