Bitcoin, XRP, ETH Price Prediction for Next Week: Last Rally of 2024!
Bitcoin, Ethereum, and XRP price trends are exploding amid an increasingly bullish trend in the cryptocurrency market. Bitcoin is approaching $100,000, XRP has reached 52 weeks, and Ethereum is showing a new breakthrough.
With broader markets anticipating a fresh surge in December 2024, the first week is likely to see significant inflows. So, let’s understand the upcoming price trends of the top cryptocurrencies and identify opportunities for the next bull run.
Bitcoin targets $100,000
On the 1-hour chart, the price trend of BTC showed a recovery rebound and a trend line breakthrough. Overcoming the long-term bearish influence, BTC price has crossed the $97,600 mark and is approaching the $99,000 mark.
However, higher price rejection led to a quick retest of the broken trendline. Currently, Bitcoin is trading at $96,395. BTC found support at the 50-day EMA on the 1-hour chart and is currently undergoing an aggressive reversal test.
The bullish recovery resulted in a golden cross and positive alignment at the 50, 100 and 200 EMAs on the 1-hour chart. With four bullish candles in a row, the MACD and signal lines are on the verge of a positive crossover as the post-retest reversal gains momentum.
Based on the Fibonacci levels, a retest reversal maintaining dominance above the 78.6% Fibonacci level could lead to a break above the $100,000 mark in the first week of December.
Furthermore, the price trend may reach a peak of $104,584 by the end of next week. On the other hand, consolidation at the $96,000 level could lead to a bearish outcome and a move towards the $95,000 support.
Will Ethereum (ETH) Price Break Above $4,000?
Ethereum price trend is exhibiting a rising wedge pattern on the 4-hour chart. The Ethereum price trend is approaching a bottleneck as the trend of higher highs and higher lows faces a large supply of local resistance trend lines.
Currently, it is analyzing the upper trendline and is trading at $3,667. To support the uptrend, the MACD and signal lines will merge despite being in a consolidation range and may re-align in the positive direction.
A bullish breakout would make the $4,037 and $4,300 levels potential price targets for next week. On the other hand, the key support level remains at $3,298.
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XRP targets $2
XRP price trend showcases second bullish flag breakout rally. XRP price is slowly approaching the $2 mark as a series of bullish candles show a parabolic recovery.
It is currently trading at $1.886, with a 24-hour high of $1.90. There is a positive crossover between the MACD and signal lines, and the bullish histogram is rising sharply and gradually strengthening.
Based on the pivot point level, current price resistance is $1.95. However, based on trend momentum and a bullish rally, XRP price could reach $2.586 by the end of next week. Minimum support next week is estimated at $1.69 or $1.37.
FAQ
Based on Fibonacci levels, BTC is expected to break through $100,000, with a potential target of $104,584.
ETH is forming a rising wedge, with upside targets at $4,037 and $4,300 if the overhead resistance is exceeded.
XRP could rally to $2.586 on the back of a bullish flag breakout and strong momentum indicators.
