3 Price Predictions Bulls return to market ahead of US crypto bill

Predictions for the Three Most Important Prices There are signs that bulls are regaining their footing in Bitcoin, Ethereum, and Ripple ahead of the US crypto bill.

Conclusion

  • Retesting the $46,198 annual open level is a possible target for the Bitcoin price after it bounced off a key support level.
  • The price of Ethereum appears to be on the verge of a 20 percent rise to $3,200.
  • The price of Ripple has completed its breakthrough, indicating a rise of 20% to $0.855.

Bitcoin's price surges toward a long-standing barrier in a matter of seconds. A similar positive growth is occurring in Ethereum, Ripple, and other alternative cryptocurrencies. Even more interesting, this might be a reaction to Janet Yellen's remarks on the crypto markets.

Before they were deleted, comments in support of digital assets and innovation had been made on the Treasury website.

Ms. Yellen's erased statement stated that "the executive order would address risks associated to illicit finance, safeguard consumers, investors, and avert dangers to the financial system and the broader economy,"

A rise in the price of bitcoin

Despite slipping below the $36,398 to $38,889 demand zone, the price of bitcoin surged 7.8% on March 9. The weekly resistance barrier of $42,748 will be met before the weekly supply zone, which ranges from $45,550 to $51,860, is retested.

Bitcoin's price, therefore, has a potential upside of between 2% and 25%. There will only be an advance when the daily candlestick closes over $52,000. The large crypto will consolidate if it falls below this threshold.

bitcoin daily chart
Source: TradingView

On the other side, if Bitcoin's price falls below the $36,398 to $38,889 daily demand zone, it will indicate that purchasers are losing confidence. By breaking below $34,752, the bullish argument will be disproven, causing BTC to plummet even lower.

 

Price of ethereum resurfaces in the pavilion

In comparison to Bitcoin, the price of Ethereum has increased by 5.7%, but it is aiming to test the 50-day SMA (SMA) around $2,771. If ETH bulls break over this level, they will be able to challenge the daily supply zone, which stretches from $3.188 to $3,393.

The 100-day simple moving average (SMA) makes it appear improbable that prices would rise over this resistance level. Investors might expect the price of Ethereum to reach $3,200 at this point.

eth daily chart
ETH daily chart; TradingView

No matter how bullish the Ethereum price appears, if the $2,324 support level is broken, the bullish thesis will be invalidated.

The price of ripple is poised to soar.

On February 28, the price of Ripple broke through a negative trend line. Retesting this trend line on March 7 confirmed a breakout, indicating the probability of a rise in price. The XRP price is expected to break past the $0.797 resistance level and go toward the $0.855 support level.

Assuming this trend continues, a swing high will be formed, which might lead to consolidation or regression. The $0.917 ceiling may be revisited by Ripple's price in a positive scenario, in which case the liquidity that has accumulated beyond it will be collected.

XRP daily chart
XRP daily chart; TradingView

A six-hour candlestick close below $0.686 will invalidate the demand zone and the bullish thesis for Ripple pricing, even though things are looking better. It's possible that the XRP price may plummet below its previous support level of $0.633 in this scenario.

** Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of USA GAG nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

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