Today Price Forecast – BTC Recovering, Other Altcoins Follow

Briefly-

  • Since 1st June, BTC’s price has surged 9%, showing signs of recovery at the moment.
  • ETH price goes through the supply zone, indicating buyers’ revival.
  • XRP ranks 3rd after the two leading coins, though with a slow speed.

At the moment, BTC’s price seems to recover from the recent drastic declines. The uptrend move follows a continuous consolidation. For now, BTC price heads to a convergence of precarious supply levels.

However, things are different with Ethereum as the second-leading crypto coin already rallied to new highs, looking for a support level at the moment.

Ripple price follows the two leading cryptocurrency coins, though at a relatively slower speed.

Bitcoin Price Up?

BTC price indicates a bullish run this month, rallying nearly 9% since June 1. The rally might continue to a 20% increase to $46,638. Keep in mind that Bitcoin is currently trading at $38,804.

However, if you are a Bitcoin investor, you may have to consider two resistance areas: $41,950, a right shoulder peak, and the supply area ranging between $43,000 and $46,638.

If Bitcoin can produce a pivotal 12-hr candlestick near over 446,638, the leading coin will have a chance to rally to 449,795.

Contrary, a 34,049 breakdown would undermine the BTC’s bullish attitude. Such a move could influence a 12 percent sell-off, forcing the leading coin to $30.071.

Ethereum at an Articulation Point

After a 9 percent rally since the start of June, ETH price remains in the supply zone that continues to $2,889 from $2.689. Any fluctuation over $2,889 would confirm an increasing trend. In such scenarios, the ETH price could rally 11 percent to $3,117. A breakout over that particular level might push Ether with a 10% rally to $3,441.

Investors should beware that any failure to break past the $2,889 boundary will signify weak purchasing pressure. Moreover, it would invalid the bullish move. In such cases, ETH’s price would revisit its 42,383 weekly open, translating to a 16% decline from its present $2,827 position.

Ripple Promising Prices

From the current situation, Ripple has increased buyers looking to take XRP to higher levels. At the moment, XRP ranged between $0.948 and $0.985 support levels. Although this indicates a bullish run, a 6% uptick will take Ripple to the next support level, stretching between 41.094 and $1.183.