Bitcoin price is currently range-bound, with altcoins like Ethereum and Ripple showing more potential for action. Altcoins may experience significant gains as investors shift their focus to alternative cryptocurrencies with growth potential. Conversely, some altcoins may struggle to maintain value as investors consolidate into Bitcoin.
Bitcoin price has been choppy, with a downside bias due to low liquidity. If support at $62,000 fails, BTC could drop to $52,000, where bullish activity awaits. The RSI and MACD indicators suggest a possible fall before a recovery, with a close above $69,032 needed for an uptrend.
Ethereum price is consolidating in a falling wedge pattern, indicating a potential bullish reversal above $2,900. A breakout could see ETH target $3,750, while a failure at $2,900 could lead to a drop to $2,800.
Ripple price is expected to retest $0.4952 before a pullback to $0.6000. A failure at $0.4952 could lead to a drop to $0.4188. Overall, altcoins are showing more potential for action as Bitcoin remains range-bound.