Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies are seeing gains except for Ripple (XRP), which is still under pressure from the dollar. However, all other major cryptocurrencies are rebounding after Facebook surprises and breathes a sigh of relief in the markets. Apple is on the rise after last night’s shutdown. It will be important for Apple’s earnings to be positive for another high close. This will allow traders to continue and follow the trend with solid gains next week. As Kriptokoin.com, we convey the factors affecting the price of Bitcoin, Ethereum and Ripple, expected levels and price analysis.
If Apple surprises, Bitcoin price will rise above $40,000
It cannot be denied that Bitcoin (BTC) price has been very correlated to the Nasdaq this earnings season. When the Nasdaq crashed after Alphabet gains on Tuesday, Bitcoin was on a downtrend, losing around 5 percent of its market cap due to missed gains. Investors witnessed a similar chart on Tuesday after the US closing bell, with Facebook’s earnings surprisingly bullish. BTC price managed to gain gains with a close above the monthly S1 at $39,099. The BTC price will therefore explode on the new trading day. We can see investors and bulls buying BTC throughout the day outweigh the bears trying to defend the $39,780 level, preventing the bulls from moving above $40,000.
Correlation with Nasdaq and Apple, BTC It will be very important as there will be a spillover effect of the tailwind that will push the price above $40,000. It surpassed the 55-day Simple Moving Average (SMA) to reach 42,000 this weekend. The downside risk comes with the aforementioned Apple gains. If Apple drops 10 percent like Alphabet did, we can expect a strong upside to push BTC price to the key level of $38,073. If this level is broken, more declines to $36,709 could be seen. If more negative news is added on any geopolitical issue, an acceleration towards $32,650 is likely.
Ethereum price breaks the $3,000 level and seeks ways to climb to $3,500
Ethereum (ETH) price has been on the rise for two days as investors are in a good mood over Facebook earnings and triggering a risk wave in the markets. made a profit. As more positive news comes in, Ethereum price is likely to continue rising throughout the day. ETH price is therefore aiming to record at least a two-day streak. It looks to continue this trend into the weekend as more geopolitical news fades into the background as tail risks dwindle and buying demand surpasses the stronger dollar. If Ethereum continues its momentum, expect to see an exponential move emerge as the bulls pierce the 55-day SMA at $3,018 and a big leg towards the 200-day SMA at $3,500. This represents a jump of about 23 percent for the ETH price.
The biggest risk on Ethereum chart is from a rejection against $3,018 and the nearby 55-day SMA. The bears will take advantage of this, seeing that the bulls have taken their losses and accelerated the downward pressure on the price as they need to sell. This would mean a drop to $2,700 for Ethereum.
XRP price can be seen as an opportunity
Ripple (XRP) price can be seen as an excellent technical buying opportunity among cryptocurrencies. Alphabet earnings had a cold shower effect on the markets and caused the markets to fall. XRP price tumbled over 7 percent on it, dropping to a historically important key level at $0.6264. XRP price saw the Relative Strength Index (RSI) hit the ‘oversold’ line and has since seen both the RSI and XRP price move higher. This showed that the technical framework made sense and triggered the bulls to come and buy these technical indicators. . However, buyers will refrain from selling and the bears will in turn start selling at higher prices. XRP price looks set to rally to $0.73 as all this will inevitably trigger a rally that squeezes the bears.
With Tuesday’s drop, the RSI may be just taking a breather before it reverts back to the oversold line and tries to pierce it. This means that the XRP price is not fit to make new highs against yesterday’s high, and the price is slowly and surely falling back down. Once the bears break past $0.6264, the next best level to catch the price action will be around S2 per month and the key level at $0.5852. This means that the XRP price could experience a drop of about 10 percent.
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