The cryptocurrency market is currently experiencing a pullback, with major coins like Bitcoin, Ethereum, and XRP facing resistance at key levels. The Fear & Greed Index is at 25, indicating a fearful sentiment among investors. Bitcoin’s brief uptrend above $90,000 was met with selling pressure, leading to a reversal in trend. Factors such as U.S. trade tariffs and ETF outflows are contributing to the bearish trend.
Bitcoin (BTC) Price Prediction:
Bitcoin is struggling to maintain its position above $90,000, currently trading at $87,289.57, down 2.12% in the last 24 hours. The 24-hour volume has decreased by 11.28% to $51.61 billion, reflecting the bearish sentiment in the market. If Bitcoin fails to hold above $85,000, a retest of the $82,000 level is likely. A break below this level could push BTC towards the $80,000 support. On the upside, a bounce from the current range could see Bitcoin attempting to reclaim $90,000, with a potential move towards $95,000 if momentum strengthens.
Ethereum (ETH) Price Prediction:
Ethereum has also taken a hit, trading at $2,193.29 after a 2.24% decline. The altcoin’s 24-hour volume has dropped by 12.74%, signaling reduced interest from traders. If ETH fails to maintain support above $2,100, it may slide towards the $2,000 level. Below that, the $1,900 mark could act as a critical support zone. On the upside, a breakout above $2,250 could push ETH towards the $2,400 resistance level.
XRP Price Prediction:
XRP has been the worst hit among the three, losing 5.60% in the past 24 hours to trade at $2.43. Selling pressure has intensified, driving XRP’s market cap down by 5.46%. If XRP fails to stay above $2.30, it could test the $2.20 level. A further breakdown might send it to $2.00, where strong buying interest could emerge. Conversely, if XRP can break past $2.50, it might see a recovery towards the $2.80 resistance level.
FAQs:
- Why is Bitcoin price falling? Bitcoin has faced consistent selling pressure due to macroeconomic concerns, including ETF outflows and U.S. trade policy developments.
- Why is Ethereum struggling? Ethereum’s price has declined due to reduced trading volume and broader market sentiment. Investors are mindful of regulatory concerns and ETF-related uncertainties.
- Will XRP reach $10? Given the current market dynamics and XRP’s circulating supply, reaching $10 remains unlikely in the short-term.
For more insights and predictions on Bitcoin, Ethereum, and XRP, stay tuned for our upcoming articles.