We examine the predictions of Fxstreet analysts Filip L. and Jonathan Morgan for popular cryptocurrencies Bitcoin, SHIB, Ripple and ETH, as Kriptokoin.com. Analysts interpret technical indicators for you. Bitcoin price action now has the easiest uptrend since October 2020. Ethereum price is heading towards $3,000 with strong buying momentum. XRP price is uncertain about rising, bulls and bears are cautious.
SHIB price action
Shiba Inu price is back to square one with the bull rally cut short. Shiba Inu price action has dropped to Monday’s opening levels, making it a week with almost no gains or losses. SHIB price action is slightly bearish with a broader test of support starting later today. SHIB price is still set at $0.00001500 as the bearish momentum continues. Shiba Inu (SHIB) price action has taken a step back and cut almost all of the gains from Wednesday’s rally. Investors are returning to bearish mode as tail risks emerge and are placed high on the agenda as we enter the weekend.
Shiba Inu price action is set to erase gains from earlier this week. The SHIB price rose after news that peace talks were making good progress. Still, it all seemed to have been thrown away overnight, with a few headlines popping up that the US was putting the threat of nuclear weapons on the table because Russia was not at all optimistic and even saw that Russia was probably trying to squeeze in a peace deal. The Shiba Inu and other cryptocurrencies have seen bulls repeat the same mistake last weekend when they got stuck.
SHIB is bearish, but what is the outlook for Bitcoin?
Bitcoin price is perhaps optimally positioned for an explosive breakout since October 2020. The primary rationale for this bullish trend has to do with where Bitcoin is within the Ichimoku Kinko Hyo system. Thin Ichimoku Clouds represent weakness and ease of movement. Although Senkou Span B represents the strongest support or resistance level in the Ichimoku Kinko Hyo system, it seems as if Senkou Span is closer to Senkou Span B while Senkou Span B is weaker. As Bitcoin is above Tenkan-Sen and Kijn-Sen, even a small bullish momentum will likely strengthen the Bitcoin price above the Ichimoku Cloud. If this happens, the Ideal Taurus Ichimoku Breakout is confirmed.
Bitcoin price could hit $45,000
The upside potential for bitcoin price is most likely limited by the 61.8% Fibonacci retracement at $44,600. However, downside risks are also very likely. Any daily close below $37,600 could trigger massive selling pressure and return BTC to the $30,000 value area.
Ethereum price is testing the first of many major resistance clusters. Ethereum price is on its way to closing the fifth consecutive daily bullish candlestick. ETH is facing several resistance zones before recovering from further bearish pressure. The first level of resistance that Ethereum price must overcome is the 50% Fibonacci retracement at $2,900. Next up is the Ichimoku Cloud (Senkou Span B) peaking at $3,025. Senkou Span B is where Ethereum should close above to confirm the Ideal Bullish Ichimoku Breakout. As a result, a close at $3,030 or above would push Ethereum above the weekly Ichimoku Cloud.
The potential to enter the weekend is likely limited by the previous bull flag low and the 38.2% Fibonacci retracement that shares the $3,280 value area. The bears will need to push ETH below $2,400 to keep Ethereum price in check. If this happens, any near-term bullish outlook will be invalidated.
XRP price coming under the control of the bulls?
XRP price is annoyingly close to triggering the Ideal Bullish Ichimoku Breakout. If the bulls can hold XRP above Tenkan-Sen at $0.877 or above, when the next daily candlestick opens, the Chikou Spread will be above the bodies of the candlesticks and in the open: confirming the bullish entry. Once confirmed, the target is probably the $1.05 to $1.07 value area. However, downside risks remain a major concern. Weekends have twice as much instability with Russia’s invasion of Ukraine. The bears could easily push the XRP price below the Ichimoku Cloud (Senkou Span B) at $0.73 and trigger a downtrend to see XRP revisit the $0.50 value area.
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