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Bulls prepare for a retest of the $52,920 region as Bitcoin breaks above key hurdles. During this period, Ethereum bulls want to stay above $4,000 and Ripple bulls want to hold above $1.05. Now, we take a look at the BTC, DOGE, ETH and Ripple predictions from two expert cryptocurrency analysts. Let’s start with BTC, which has the biggest impact…

How could Ripple and ETH be affected as Bitcoin approaches critical resistance

Bitcoin price surged last week as it continued to rally without major corrections. As a result, Ethereum, Ripple, and other altcoins followed suit. At the time of writing, although the entire market appears to be in an uptrend, things could turn around if BTC witnesses a September 7 style crash, according to analyst Akash Girimath.

Now, Bitcoin price has increased 12% in the last three days and is currently trading around $48,380. The $48,895 and $50,000 resistance levels are forming significant hurdles in the bulls’ path. Therefore, the bulls need enough momentum to turn these resistances into support for a smooth recovery to the September 6 levels. This move will push BTC into the Fair Value Gap (FVG), suggesting that buyers can compete to retest the upper limit of this range at $56,361. If this analyst’s prediction is complete, it would represent a 16% rise from current levels. On the other hand, if BTC fails to sustain the buying pressure, a pullback to $46,833 is likely. However, a break of $44,705 would invalidate the bullish argument.

Ethereum price remains strong

It has been almost a month since Ethereum price moved away from the psychological resistance of $4,000 and made no contact. During this period, it consolidated between $3,015 and $3,338. Although the move was impressive, the September 7 crash took place, which took back all the gains. However, the congestion seen between $3,015 and $3,338 helped limit the selling and kept ETH afloat. At the later levels, due to the recent uptrend, Ethereum price seems to be approaching FVG, which ranges between $3,716 and $4,071. According to the analyst, traders can assume that ETH price will retest the $4,000 level if the current uptrend continues. In this positive scenario, the conversion of the $4,071 supply barrier to the demand base could hint at a move towards the ATH level of $4,372.

Additionally, regardless of the Ethereum price spread, if the Bitcoin price drops, investors can expect ETH to do the same immediately. 3. Break below $345 could trigger another consolidation but will not invalidate the bullish thesis. However, forming an LL below $3,223 will put an end to the optimism around ETH.

Ripple price volatility gives first signs of vitality

Cryptocoin. com, the Ripple price gained momentum from $1.42 on September 6, but could not maintain this level after a market-wide collapse the next day. Due to this sale, XRP lost 25% of its value but managed to stay above the support base of $1.05. After a few days of consolidation, XRP price managed to break through this hurdle and start an uptrend. A 10% rise from its current position is enough to face Ripple at the $1.23 resistance level. Turning this hurdle into a support level could open ripple price’s path to the $1.42 high range. Continuing to rise, it could start the second leg to retest the $1.66 and $1.83 ceilings.

Though things seem to be going well for Ripple, breaking the $1.05 support base will invalidate the bullish argument and frighten investors. This move will create a further LL and could result in selling to the next demand barrier at $0.96.

Dogecoin technical analysis

Saif Naqvi, who will take Dogecoin analysis, says that after the sale on September 7, the DOGE price is in a downward trend. Visiting lower levels, DOGE recorded a lower outlook after falling below the daily 200-day SMA (green) for the first time in nearly 2 months. While it certainly lacks any upside momentum, the short time frame has seen some bullish gains after a brief upside momentum according to several indicators. If this trend continues in the coming days, a price increase can be expected. Let’s continue with the short-term price movements from technical analysis…

Dogecoin 4 hourdollarsk chart

The past eight days have seen DOGE slowly depreciate in the down channel. While LL was observed at $0.233 and $0.228 in the market, LHs were withdrawn from $0.263 and $0.254. Now, after bouncing back from the lower trendline, the price can be expected to form a new high above the 50% Fibonacci Retracement level.

An upside breakout was expected from these levels. However, a few conditions need to be met first. For starters, DOGE should close above the 78.6% Fibonacci level for strong volumes. Second, several of DOGE’s indicators need to go further on the charts. Failure to drop the 50% Fibonacci level will likely result in a continuation of the pattern. From these levels, a drop lower to $0.225 can be expected.

Now, although DOGE price has tested the upper trendline several times, the RSI has failed to rise above 50 decisively. This will need to change over the next few days to maximize the possibility of an upside breakout. Meanwhile, the MACD is rebounding from several-month lows, but no clear bullish reversal has emerged. Interestingly, the Awesome Oscillator produced three sub-peaks below the half-line. This is a setup that is usually followed by a surge in upward momentum.

Finally, according to the analyst, Dogecoin may seize an opportunity to break above its parallel channel in the coming days. Each of the indicators created bullish divergences based on DOGE’s price action. But they need to go a little further before a clear result can be determined. The best-case scenario would be to reach $0.283, which would be a 15% increase from the upper trendline of the pattern. The levels after this price range will be determined by the struggle of the bulls and bears.


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Michael Lewis

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