Top Price Predictions Bitcoin, Ethereum, XRP, DOGE, NEAR

Key Takeaways:

• Bitcoin: Bitcoin exhibited a reasonably bullish performance in September 2023, rebounding around 10.5% from its monthly low.
• Ethereum: Ethereum price faced significant volatility in recent weeks, dropping below $1,600 but maintaining hope for recovery.
• XRP: XRP price‘s unusual 2023 could rally to $0.6 with support around $0.474.
• Dogecoin: Dogecoin struggled in 2023, with a substantial 43% decline.
• NEAR Protocol: NEAR Protocol is currently in a falling wedge pattern, suggesting a potential reversal.

Bitcoin Price Facing Stiff Resistance at $28,000

BTC/USD | Source: TradingView

• Bitcoin managed to rebound by approximately 10.5% from its monthly low after a reasonably bullish price performance in September 2023.
• As October commenced, Bitcoin price followed a bullish trajectory, surpassing the $27,000 level and briefly touching $28,000 before a slight retracement.
• An analysis of Bitcoin price movement reveals a significant development as it decisively broke free from the bearish constraints of a descending triangle pattern, which is outlined by the blue trendlines.
• The price between the Fibonacci S1 support level at $25,400 and the base of the descending triangle at $25,800 appears to be solidifying as a robust foundation for Bitcoin’s future pricing. This level faced testing on two occasions, first in June and more recently in September, proving resilient and unbroken.
• Furthermore, Bitcoin’s 50-day and 200-day Exponential Moving Averages (EMA) have experienced a crossover following a brief increase in BTC’s price, which might encourage some buying activity in the market.
• If BTC price successfully surpasses the resistance at $28,000, there is potential for it to surge toward $29,040, as indicated by the Fibonacci pivot lines.
• The range between $25,400 and $25,800 is possible to evolve into a dependable support zone in the coming days for BTC, offering a protective buffer for Bitcoin price.

Read More: Bitcoin Price Prediction

Ethereum Price Crashes Below $1600!

ETH/USD | Source: TradingView

• The ETH price has currently fallen down below the $1600 mark, which it had been able to hold on to for the past couple of weeks.
• As the ETH price isn’t significantly below the $1600 mark, at $1590, a small bullish trigger can bring it back in the safe zone.
• On the downside, the next level of support for Ethereum’s price is located within the range of $1,500 to $1,550. This range carries considerable psychological significance and aligns closely with the S2 level of the Fibonacci pivot structure.
• Nevertheless, for Ethereum’s price to regain robust bullish momentum, it has to encounter the challenge of overcoming the bearish influence of the 50-day and 200-day exponential moving averages. These averages crossed bearishly in early September 2023, possibly intensifying selling pressure in the market.
• Looking to the upside, Ethereum’s price needs to breach the $1600 mark and the $1,700 threshold one after the other to recover any bullishness.
• While the early days of 2023 witnessed positive strides in both Bitcoin and Ethereum prices, Ethereum’s performance notably lagged behind. While Bitcoin maintained its strength, Ethereum experienced a considerable retracement, with its price declining by approximately 27% from its year-to-date peak of $2,100, achieved in April 2023. Nevertheless, Ethereum has still managed to secure a 32% gain in the year 2023 thus far.

Learn More: Ethereum Price Prediction

XRP Continues Trading Under Bearish Grip

XRP/USD | Source: TradingView

• The XRP price performance in 2023 has been quite unusual, indicating a remarkable surge of over 74% on July 13, 2023. Notably, this surge followed the announcement by the US District Court for the Southern District of New York, ruling that XRP does not qualify as a security, thus resolving the dispute raised by the US SEC.
• This positive development led to a significant price spike, bringing relief to XRP investors. Shortly after this event, XRP’s price began to decline, and now, approximately two months after the court’s decision, it has retraced to a level nearly identical to its position just before Ripple’s legal victory against the SEC.
• Regarding a Ripple price forecast, on the bullish side, XRP has the potential to surge to the pivotal level of $0.56 (R2) and then advance to $0.6 (R3), as indicated by the Fibonacci pivot point levels. If the bullish momentum persists, there’s also the possibility of a further rally to the range of $0.65.
• On the flip side, the current XRP price is marginally above the $0.474 (S1) Fibonacci support level, as depicted on the chart.

Read On: Ripple Price Prediction

Dogecoin Price Resumes Bearish Streak

DOGE/USD | Source: TradingView

• The DOGE price has witnessed a notable decline of nearly 43% from its peak in 2023, and currently, it remains down by 16% since the year began.
• This downturn has resulted in Dogecoin emerging as the weakest performer among the top 10 cryptos based on market capitalization, as per data from CoinMarketCap.
• While $0.58 may serve as a temporary support level for Dogecoin’s price, it’s unlikely to withstand the prevailing bearish pressures exerted on the Dogecoin market, as highlighted by the blue trendlines.
• Given the continued presence of a death cross, signifying the crossing of the 50-day and 200-day exponential moving averages in a bearish direction since March 2023, it’s reasonable to anticipate that Dogecoin’s price will continue its descent in the foreseeable future.

Know More: Dogecoin Price Prediction

NEAR Price Trading in a Falling Wedge

NEAR/USD | Source: TradingView

• NEAR Protocol is a token that, pretty much like many other major altcoins out there, has been finding it difficult to gain a foothold in price and make some recoveries.
• NEAR price is currently trading slightly below the 50-day exponential moving average and well below the 200-day EMA. The downward trend has been steady, and the potential for a recovery seems low.
• A contrarian look at the chart above indicates that the NEAR price is currently in a falling wedge pattern – which is widely regarded as a reversal pattern and could potentially herald a recovery in the near future.
• But to attain any kind of strong buying momentum, NEAR price will have to convincingly break out of the 50 and 200-day EMAs to overturn the short-term and long-term bearishness in the token.

Additional Read: Near Protocol Price Prediction

Conclusion