Top 3 Bitcoin, Ethereum, Ripple Price Predictions: Shakeouts, Fakeouts, Hopes & Dreams pt.3 | Cryptocurrency

  • Bitcoin price rebounded with a slight increase in volume after falling below $19,000 for the first time since July.
  • Ethereum price shows that more investors are currently in profit than in loss, which could reduce overall selling pressure.
  • XRP price is producing the biggest pullback in the downtrend.

Since the crypto’s inception, September has consistently been bearish, delivering negative returns. Nevertheless, there are technical and on-chain metrics suggesting that September 2022 could tell a different story.

Bitcoin Price Fixing for a Rebound?

Bitcoin price is currently selling at auction at $19,284 as traders produce a rebound from Bitcoin’s recent breach of $19,000. On September 6, the original peer-to-peer crypto token fell below the psychological barrier for the first time since July 3 and consequently allowed traders to forge a daily close at $18,667.

The Santiment Volume Profile indicator shows a slight increase in volume near the newly established low. With just over $43 billion in trades, the $18,667 is 1 billion more trades than the June 18 low of $17,593, which had $42 billion. This is an anomalous signal as the June 18th low has become a pivot on the summer low, providing support before a 40% rally takes place.

Santiment price and volume indicators

Does smart money get a quick one?

A rebound could occur in the coming days. Key levels of interest are a 38.2% Fibonacci level at $21,850. The FIB level is derived from the 2020 lows of $3,850 to the 2021 highs of $69,000. Additionally, the 200-week moving average is currently positioned at $23,040. This gives BTC the airspace up to 20%.

The invalidation of the bullish thesis will be a breach below the June 18th swing low at $17,592. Traders should also wait for a confirmation signal, such as a bullish moving average crossover or a definite daily close above $20,450 for a safer entry to a highly risky countertrend idea.

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BTC USDT 3-Day Chart

In the following video, our analysts dive into Bitcoin’s price action, analyzing key levels of interest in the market. -Netcost-Security team

Ethereum price has potential

Ethereum’s price is currently selling at auction at $1,634 as traders rebounded from the crypto’s Sept. 6 decline. Traders managed to print a 2-day doji candle with relatively low volume, suggesting that there are still traders in the market anticipating higher prices. Additionally, the settlement at $1,630 was set above the 8- and 21-day simple moving averages.

Into theblock’s In/Out of the Money indicator baffles the idea that Ethereum price could rally higher. According to the indicator, around 47 million addresses are currently in the money, indicating that they bought at an average price below current market value. The indicator shows that the next major selling pressure could come around $1,900, where nearly 6.74 million addresses are out of the money, after buying Ethereum price with an average price of $1,936.

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In the In/Out of the Money indicator of the block

In theory, the indicator suggests that fewer investors in the market are feeling the pressure to break even. This subtle bullish signal could allow a continuation of the summer uptrend. If the bulls can clear the $1,900 resistance, the $2,200 area will be the next key level of interest, offering 30% potential gains from the current Ethereum price.

Combining these factors, a short-term pullback should not be ruled out for the decentralized smart contract token. A close above $1,735 could be the catalyst to induce the bullish move. The invalidation of the bullish thesis, however, hinges on $1,250 remaining intact.

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ETH USDT 3-Day Chart

In the following video, our analysts dive into Ethereum’s price action, analyzing key levels of interest in the market. -Netcost-Security team.

Ripple price may bounce higher

Ripple’s XRP price could argue for a more counter-trend pullback. Since the last days of July, the digital rebate token has continued to descend in a pinch-type formation. Among chart pattern traders, the wedge could be a sign of a weakening downtrend.

On September 7, the price of XRP produced a strong rebound since breaking the $0.31 barrier earlier in the week. The current 5% pullback is the largest retracement in the wedge from any previous decline.

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XRP USDT 3-Day Chart

Ripple’s XRP price is currently selling at auction at $0.33. The Relative Strength Index is showing subtle bullish divergence on the 3-day chart, which may be an overlooked clue among traders using shorter timeframes. Additionally, the 8-day exponential and 21-day simple moving averages collide near the current price action.

If the bulls can produce a 3-day candle above the collision indicators, a further rally to $0.36 could occur. Such a move would result in a 10% rebound from the current XRP price.

In the following video, our analysts dive into Ripple’s price action, analyzing key levels of interest in the market. -Netcost-Security team

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Top 3 Bitcoin, Ethereum, Ripple Price Predictions: Shakeouts, Fakeouts, Hopes & Dreams pt.3 | Cryptocurrency


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