Ethereum

Flow

Rally

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The cryptocurrency market is gradually finding footing after a gruesome crash triggered massive liquidations, which saw Bitcoin (BTC) price, Ethereum (ETH) price, Ripple (XRP) price, and other altcoins plunge in double digits. After testing support at $49,000 on various exchanges, BTC swiftly recovered to trade at $57,045 on Wednesday,&nbsp;while XRP and <a href="https://coingape.com/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH prices</a> bounced back to $2,470 and $0.5165, respectively. Despite the uptick in crypto prices, market uncertainty raises questions about the sustainability of the bullish trends.
<h2 class="p1" id="bitcoin-price-recovery-targets-60-000">Bitcoin Price Recovery Targets $60,000</h2>
Bitcoin price holds above a descending trend line from May as bulls seek support above $57,000. The resurgence of the Money Flow Index (MFI) into the neutral region affirms the growing interest in <a href="https://coingape.com/price/bitcoin/" rel="noopener noreferrer nofollow">BTC price</a>.
With a daily close above $57,000, this <a href="https://coingape.com/price-predictions/bitcoin-btc-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin price prediction</a> assures traders of a continued move to $60,000. Such a move could be a game changer for BTC as it may trigger a FOMO-driven rally to $70,000.
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="size-full" src="https://www.tradingview.com/x/WHseXAOk/" alt="Bitcoin, Ethereum, Ripple Price Analysis: BTC To Revisit $60K Amid Market Uncertainty" width="2694" height="1440">
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 Bitcoin price chart | Tradingview
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</figure>
Due to the uncertainty in the market with no clear signals of when the Federal Reserve could effect the first rate cut, traders must prepare for another potential drop below $50,000.
<h2 class="p1" id="ethereum-price-struggles-under-2-500">Ethereum Price Struggles Under $2,500</h2>
Ethereum price made a sharp swing from the lowest weekly point of $2,111 but lost momentum at $2,555. According to a previous <a href="https://coingape.com/price-predictions/ethereum-eth-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">ETH price forecast</a>, the 20-day EMA blocked the upside, resulting&nbsp;in the coin sliding under $2,500.
Traders will be looking for support above the previous day’s open at $2,455, but if this level fails to hold, another crash may follow, this time aiming for sub-$2,000.
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="size-full" src="https://www.tradingview.com/x/LIdSoXCh/" alt="Ethereum price chart | Tradingview" width="2710" height="1434">
 <figcaption class="wp-caption-text">
 Ethereum price chart | Tradingview
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</figure>
Amidst all the uncertainty, traders should appreciate a buy signal sent by the Moving Average Convergence Divergence (MACD). This call to buy Ether implies that Ethereum is&nbsp;<a href="https://coingape.com/markets/ethereum-poised-for-recovery-as-bank-of-japan-governor-softens-rate-hike-talk/" target="_blank" rel="noopener noreferrer nofollow">poised to recover,</a> taking down resistance at $2,555 and clearing the course to $3,000.
<h2 class="p1" id="ripple-price-rally-encounters-challenges">Ripple Price Rally Encounters Challenges</h2>
Ripple price revived the uptrend after holding support at $0.43 to trade at $0.5165 during the American session. Traders had initially bought the dip, boosting the uptrend, but due to growing resistance at the 20-day EMA slightly below $0.52, a correction seems to be brewing.
A sustained break above $0.52 remains key to the resumption of the uptrend, with <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP price</a> likely to extend the rally above $0.6. However, the build-up of selling pressure casts doubt on the strength of the uptrend. At the same time, it increases the chances of sweeping through $0.5 support and,&nbsp;if push comes to shove, down to $0.43.
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="size-full" src="https://www.tradingview.com/x/QuOQr4px/" alt="Bitcoin, Ethereum, Ripple Price Analysis: BTC To Revisit $60K Amid Market Uncertainty" width="2710" height="1434">
 <figcaption class="wp-caption-text">
 XRP price chart | Tradingview
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</figure>
Bullish traders will hang onto the idea of the buy signal from the MACD and the Relative Strength Index (RSI) rebound into neutral territory to keep their long positions active, thus betting on a larger breakout past $0.6.
The post <a href="https://coingape.com/markets/top-3-bitcoin-ethereum-ripple-price-analysis-btc-to-revisit-60k-amid-market-uncertainty/" rel="noopener noreferrer nofollow">Top 3 Bitcoin, Ethereum, Ripple Price Analysis: BTC To Revisit $60K Amid Market Uncertainty</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Top 3 Bitcoin, Ethereum, Ripple Price Analysis: BTC To Revisit $60K Amid Market Uncertainty

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