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Bitcoin Ethereum TradingView XRP

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC bulls buy the dip pushing it back above $32,000

Posted On January 22, 2021 Robert Weiss 0

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In the past 48 hours, the entire cryptocurrency market lost close to $200 billion in market capitalization as Bitcoin price sliced through $30,000 hitting a low of $28,850 on Binance. However, BTC bulls quickly intervened and bought the dip pushing the digital asset by 12% from the low to a current price of $32,400.

This dip-buying confirms that the area between $28,000 and $30,000 is a strong support range for Bitcoin. One of the most significant developments in the past two days has been Ethereum price which has taken the lead again and it’s up more than 5% against Bitcoin. XRP price on the other hand still struggles to recover.

Bitcoin price corrects by 30% but bull rally remains intact

From a long-term standpoint, the Bitcoin bull rally is far from over. The weekly chart is still in a robust uptrend and the 12-EMA is located all the way down at $26,349. The 26-EMA, which is a must-hold level for the bulls is established at $20,240.

btc price

BTC/USD weekly chart – TradingView

It would seem that Bitcoin is about to enter a more calm period within the next few weeks as its dominance has been declining significantly, down at 64.9% currently.

Ethereum price signals the beginning of alt season

Ethereum is currently outperforming Bitcoin in all fields. For instance, ETH price correction was only 27% compared to Bitcoin’s 31%. Additionally, ETH bulls have pushed the digital asset by 20% today gaining a lot of dominance over the market.

eth price

ETH/BTC weekly chart – TradingView

On the ETH/BTC chart, Ethereum is up by 5.6% which clearly shows is leading the way right now. Looking at the total market capitalization without Bitcoin, we can see that the last sell-off wasn’t as steep for the altcoin market which only lost 10% of its value compared to Bitcoin’s 31%. These are major signs that a potential new alt season is starting as history seems to be repeating itself again.

XRP price still underperforming

Again no surprise with XRP price as it continues to trade below $0.30 and seems unable to recover despite the ups and downs of the market. Trading volume continues to decline which indicates investors are not interested in trading the digital asset before the SEC’s final decision over Ripple and XRP.

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This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)

Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.

Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future. 

#BTC#eth#xrp



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