Bitcoin price has been at a tough point in tight consolidation for the past 48 hours. Over the weekend, volatility in crypto markets has subsided as usual. This caused the price of BTC to move. As a result, currently BTC, SHIB, XRP, and ETH are extremely open to manipulation.
“Expect these levels for SHIB, BTC, XRP and ETH”
Now we have entered a new week and crypto money prices continue their sideways movements. With the opening of the US stock markets, investors should determine their strategies. For this Koindeks.com We share with you the latest price analysis of 2 analysts. Read on for the analysts’ BTC, SHIB, ETH and XRP price claims.
“For Bitcoin (BTC) these levels are on the cards”
Bitcoin price is consolidating within a symmetrical triangle. This delegation does not have any directional bias. Therefore, it is possible for the BTC price to go both ways. Market participants are likely to see a bearish trend in selling pressure around the US stock market open. If that happens, Bitcoin will rally any selling liquidity that remains below the previous week’s low of $18,097 or the June 18th low of $17,593. A rapid recovery following a liquidity run will point to a bullish narrative.
This will push the Bitcoin price to the lowest point in August at $19,508. Turning this level into reinforcement will pave the way for higher levels. At this point, BTC could reach the August high of $22,500 if it can overcome other mid-range pitfalls. On the other hand, a break of $17,593 without recovery will turn this barrier into a resistance level. This development will invalidate the bullish thesis for BTC and support the drop to $15,550.
“Ethereum (ETH) is waiting for BTC to move”
Ethereum price looks set to revisit the twelve-hour demand zone before deciding on a biased bias. So, a drop from $1,234 to $1,191 is possible. There is a high correlation in the middle of ETH and BTC. Therefore, ETH will wait for signals to emerge as to where BTC will go. A recovery above $19,508 in Bitcoin price will lead Ethereum price to surge to $1,423. If the uptrend continues, ETH could see $1,500.
Impacting the entire crypto market, if the Bitcoin price drops further to gather liquidity below June 18 low, it is possible for Ethereum price to collapse and pierce its own comparative demand zone. Breaking this level will result in a revisit of the midpoint of the range at $1,080.
“Ripple (XRP) price is playing these levels”
Ripple price is up 74% in a week and it is currently hovering above the $0.6464 reinforcement level. If this barrier is broken, XRP price will fall further to sweep the September 23 low at $0.456. However, a bounce here also has the potential to raise it to $0.561. This mid-bullish situation is dependent on the momentum and direction trend of Bitcoin price.
The downside in BTC price will cause XRP to make a steep correction. If the XRP price fails to rise in this middle, it will show that there is no buying pressure and that investors are profiting. At this point, it is possible to break the support level at $0.464. If the level is broken, it will result in a drop to the midpoint of the range at $0.39.
“Shiba Inu (SHIB) signals a new price rally”
Shiba Inu (SHIB) price looks set to climb to the $0.001394 level. The analyst states that the price of the Shiba Inu has been turbulently heading south for the past week. The unsystematic pullbacks during this period show that the downtrend of the chest coin is weak. Moreover, it points to the possibility of the uptrend returning to the contrary.
In this middle, an invalidation of the Shiba Inu’s bullish trend is also possible. If the bulls break the $0.00000880 level as the foothold, the price will drop further. If this reinforcement is lost, the above-mentioned bullish thesis will become invalid. A drop from the $0.000000880 reinforcement will increase the downside price pressure. At this point, SHIB will descend in a spiral to $0.00000738.