Bitcoin's price could potentially drop to $60,000, still presenting a viable buying opportunity without negating its long-term bullish outlook. Ethereum's price may face a 10% reduction if Bitcoin's current weakness persists, while Ripple could see a 7% decrease to $0.5740 before its next upward trajectory.
Bitcoin Price Prediction: Bitcoin Bulls Staying Positive
Amid a market downturn that led to over $530 million in liquidations, the bullish sentiment for Bitcoin remains intact, suggesting the current dip could be an opportune moment for investors to enter before an anticipated rise. Technical indicators for Bitcoin show a significant sell-off, with the Relative Strength Index (RSI) indicating declining momentum and the Awesome Oscillator (AO) highlighting bearish presence. Despite this, the opportunity for a rebound ahead of the Bitcoin halving suggests a potential low of $55k-$60k as an attractive entry point for investors, as highlighted by analyst @Cryptomanran on X.
Investors should, however, conduct their due diligence, as Bitcoin could briefly dip below the $60,000 mark. A recovery is contingent on bullish action, with a solid close above $64,044 needed to set the stage for reclaiming higher levels, potentially surpassing the $73,777 peak for a new all-time high.
Ethereum Price Prediction: 27% Increase Coming?
Ethereum, affected by Bitcoin's decline and despite the anticipated Dencun Upgrade, faces a downward trend that could see it testing support at $3,527. Failure to maintain this level might lead to a further drop towards $3,200. Conversely, bullish momentum could reverse Ethereum's fortunes, pushing it towards the $4,093 range high.
Ripple Price Could Decline 15%
Ripple's recent 15% decline from a high of $0.7440 suggests a potential fall to $0.5740. Should this support falter, a further slide to $0.5368 could offer a buying opportunity. A reversal in trend could see Ripple surpass the $0.700 mark, potentially reaching $0.8000, marking a 27% increase from current levels.
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Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the viewsof Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
