Market Analysis

Bitcoin, Ethereum, Ripple Price Predictions: Volatility Looms Ahead of Trump’s Inauguration

Amos Simanungkalit · 20 Jan191.2K Views

Image Credit: FXSTREET

Bitcoin (BTC) and Ethereum (ETH) prices test key support levels on Monday, with both eyeing potential rallies. Meanwhile, Ripple (XRP) continues its upward momentum after breaking through its symmetrical triangle pattern last week.

Bitcoin Price: Possible Rally if $100K Support Holds

Bitcoin bounced back after testing the $90,000 support level last week, rising by 10.6% until Saturday. However, it faced rejection around $106K and dropped 3.08% on Sunday, retesting its key $100K support level. As of Monday, BTC is holding around $101,800. If it maintains support at $100K, Bitcoin could extend its rally towards the December 17, 2024, all-time high of $108,353. The Relative Strength Index (RSI) is at 57, showing increasing bullish momentum, while the Moving Average Convergence Divergence (MACD) has given a bullish signal. If BTC falls below $100K, it may decline further toward the $90,000 level.

Ethereum Price: Focus on Recovery Above 200-day EMA

Ethereum retested its 200-day Exponential Moving Average (EMA) at $3,125 after a 7% drop. It has since recovered to around $3,276 on Monday. If the $3,125 level holds, ETH could aim to test its next resistance at $3,730. The RSI is at 46, showing signs of weakness in bearish momentum, and the MACD is approaching a bullish crossover, suggesting potential upward movement. However, if ETH closes below the 200-day EMA at $3,125, it may decline further towards $3,000.

Ripple (XRP) Bullish Momentum Aims for $3.63

Ripple continues its rally after breaking above its symmetrical triangle pattern, climbing 30.48% last week. Although it faced rejection around $3.30 and declined 10.14% over the weekend, XRP is trading slightly above $3.13. If the bullish momentum continues, Ripple could target the technical pattern's target of $3.63. The RSI at 65 indicates strong bullish momentum, and the MACD suggests further upside potential. However, a close below the $1.96 support could trigger a decline toward the $1.40 support level.