Bitcoin price is on the rise, with a potential new all-time high above $73,777 if bulls can turn the centerline of the Bollinger Bands indicator into support. Ethereum price is also showing promise for a 25% rally, but it must first capture $3,406. Ripple price is gaining momentum, with a possible move to $0.6000 as the RSI confirms a trend reversal.
Bitcoin (BTC) has crossed the $60,000 mark again after a recent dip, sparking optimism for altcoins. Glassnode, an on-chain market intelligence firm, credits the strength in BTC to US exchange-traded funds (ETFs). The firm notes a classic phase of euphoria in a bull market, with unrealized profits exceeding 50% of the market capitalization.
Bitcoin’s price direction remains balanced, with potential for an uptrend if bulls can hold the centerline of the Bollinger Bands indicator at $63,367. A move above $67,133 could set the stage for reclaiming the $73,777 peak. Ethereum’s price is consolidating within a bullish falling wedge pattern, with a potential 25% rally to over $4,200 if the RSI climbs above 50. Ripple’s price is eyeing $0.6000, but traders should wait for the RSI to move above the mean level for confirmation.
Overall, the cryptocurrency market is showing signs of bullish momentum, but investors should remain cautious and watch for key levels and indicators to determine future price movements.