The Cryptos News | Daily Bitcoin News
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
The Cryptos News | Daily Bitcoin News
No Result
View All Result
Home Top Cryptos

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Potential targets for the crypto crash

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Potential targets for the crypto crash
Share on FacebookShare on Twitter


  • Bitcoin price has crashed 15% since breaching a shorter bear flag pattern.
  • Ethereum price tags the $1,305 target after nosediving 28% over the last four days.
  • Ripple price sheds 16% as it breaks out of a bearish pennant, forecasting a $0.221 target.

Bitcoin price has crashed quite a bit over the weekend, taking Ethereum, Ripple and other altcoins with it. The cause of this brutal market downswing seems to be two-fold – fears around the solvency of the Celsius Network and the CPI announcement.

Celsius is a crypto-based lender and major holder of Staked Ethereum (stETH), which is Ethereum staked on the Lido platform, which is a 1:1 backed peg of ETH. Due to sudden redemptions, the peg between stETH and ETH has started to decouple significantly.

The imbalance is now causing a bank run on Celsius Network. While this is one background factor destabilizing markets, the other is the CPI inflation (Consumer Price Index) announcement on June 10, which is triggering a crash over the weekend and causing markets to cascade.

Earlier today, Celsius Network announced that it will be pausing all withdrawals, swaps, and transfers between accounts. This announcement has caused many to speculate about what this might really mean for Celsius. 

Cobie, the host of the UpOnly podcast tweeted,

I guess now you have to hope that they’re not bankrupt but they just put too much of customer funds into illiquid/locked places — eg on beacon chain

Then maybe they can wait it out and pay users back

But if they lost everything then gg I guess

— Cobie (@cobie) June 13, 2022

Bitcoin price manifests the worst 

Bitcoin price has crashed 17% since June 10 after opening at $30,0082. This downswing has pushed BTC to breach the smaller bear flag pattern, which forecasts a 30% crash to $20,560. Interestingly, the same chart also shows that the larger bear flag projects a similar target of $20,002. 

While the crash seems to have paused, investors need to be cautious as a continuation could plummet BTC lower. 

BTC/USD 1-day chart

BTC/USD 1-day chart

Although unlikely, if Bitcoin price produces a daily candlestick close above the $52,000 level, it will create a higher high from a macro perspective and invalidate the bearish thesis. In such a case, Bitcoin price could climb higher to $60,000.

Ethereum price reaches its target

Ethereum price set a bear flag in late April and breached the lower trend line on May 4. Since then, ETH has crashed 52% to reach the forecasted target at $1,305. As the altcoin trades around this level, investors need to be patient with buying the dip or opening long positions.

This crash has breached the $1,401 weekly support level and flipped it into a resistance barrier. A continuation of the downtrend that breaks down the $1,305 level could trigger a 20% nosedive to the immediate foothold present at $1,050.

ETH/USD 1-day chart

ETH/USD 1-day chart

If buyers step in and purchase ETH at a discounted price, however, there is a chance for recovery. A quick flip of the $1,401 hurdle into a support level will indicate a resurgence of bullish momentum. This development could see Ethereum price attempt a rally to $1,730.

Ripple price has a long way to go

Ripple price breached a bearish pennant, another bearish continuation pattern on June 10. This development caused the XRP price to crash 16% in the three subsequent daily candlesticks. As the remittance token trades at $0.325, the risk of a further crash lingers.

This technical formation forecasts a 42% crash to $0.221, and considering the current position, Ripple price could see a 32% drop. However, this move will not be a sudden crash due to the $0.250 and $0.302 support levels.

XRP/USD 1-day chart

XRP/USD 1-day chart

While things are looking relatively less bearish for Ripple price, a recovery above $0.578 will be necessary for bulls to breathe a sigh of relief. A daily candlestick close above $0.657 will invalidate the bearish thesis by creating a higher high.

 





Read More:Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Potential targets for the crypto crash

Tags: BitcoincrashcryptocryptocurrenciesEthereumpotentialPredictionpriceRippletargetsTechnical AnalysisTop
Previous Post

Bloodbath as bitcoin, ethereum plunge

Next Post

Tectonic (TONIC) Crypto: What Is It & Should You Invest?

Related Posts

Here’s What’s Next for Bitcoin (BTC), Ethereum (ETH) and One Altcoin That Over Exploded

Here’s What’s Next for Bitcoin (BTC), Ethereum (ETH) and One Altcoin That Over Exploded

by The Cryptos News
July 30, 2022
0

A widely followed trader is exploring the near-term outlook of the two largest-crypto assets and one altcoin that has...

This is how the crypto market, especially BTC and ETH, reacted amid latest Fed hike

This is how the crypto market, especially BTC and ETH, reacted amid latest Fed hike

by The Cryptos News
July 30, 2022
0

The Federal Reserve increased the interest rate by a further 0.75% and the crypto markets responded bizarrely. The U.S....

How to Buy Polkadot Coin | Cryptopolitan

How to Buy Polkadot Coin | Cryptopolitan

by The Cryptos News
July 30, 2022
0

Polkadot is one of the top 20 cryptocurrencies by market capitalization, and it has been gaining in popularity lately.DOT...

Mehracki Token (MKI), Binance Coin (BNB), and Cardano (ADA) – Cryptocurrencies Poised To

Mehracki Token (MKI), Binance Coin (BNB), and Cardano (ADA) – Cryptocurrencies Poised To

by The Cryptos News
July 30, 2022
0

The world of cryptocurrencies is becoming ever more popular, and the speed at which people begin trading grows more...

Next Post
Tectonic (TONIC) Crypto: What Is It & Should You Invest?

Tectonic (TONIC) Crypto: What Is It & Should You Invest?

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trending News

Payperless Crypto Wallet announced working on NFT tokens support

Payperless Crypto Wallet announced working on NFT tokens support

June 25, 2022
June’s Red-Hot Inflation Report Rattled Bitcoin and Ethereum Prices. What That Means for

June’s Red-Hot Inflation Report Rattled Bitcoin and Ethereum Prices. What That Means for

July 14, 2022
Ripple’s Counsel Urges US Lawmakers to Urgently Pass ‘Sensible’ Crypto Legislation Amid

Ripple’s Counsel Urges US Lawmakers to Urgently Pass ‘Sensible’ Crypto Legislation Amid

July 30, 2022
ADVERTISEMENT

Investment

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

July 30, 2022
Study up and become a more informed crypto investor with this bundle

Study up and become a more informed crypto investor with this bundle

July 30, 2022
Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

July 30, 2022
Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

July 29, 2022
$ETH-Based Investment Products Leading Bounce-Back in July, Says CryptoCompare Research

$ETH-Based Investment Products Leading Bounce-Back in July, Says CryptoCompare Research

July 29, 2022

Prices

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

July 30, 2022
Tron price prediction as Unifi Protocol TVL explodes

Tron price prediction as Unifi Protocol TVL explodes

July 30, 2022
Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

July 30, 2022

Crypto Flipsider News – Crypto Market Rally; Nirvana (NIRV) Exploited; Vasil Delayed;

July 29, 2022

Trading

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

July 30, 2022
SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

July 30, 2022
Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

July 29, 2022
FTX wins full approval to operate crypto exchange in Dubai

FTX wins full approval to operate crypto exchange in Dubai

July 29, 2022
Crypto exchange Zipmex files for bankruptcy protection in Singapore

Crypto exchange Zipmex files for bankruptcy protection in Singapore

July 29, 2022
  • About Us
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA

© 2021 Thecryptosnews.com

No Result
View All Result
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading

© 2021 Thecryptosnews.com

wpDiscuz