{"id":5094,"date":"2022-01-17T10:43:36","date_gmt":"2022-01-17T10:43:36","guid":{"rendered":"http:\/\/egrowonline.com\/?p=5094"},"modified":"2022-01-17T10:43:36","modified_gmt":"2022-01-17T10:43:36","slug":"altcoins-due-for-massive-gains-as-btc-holds-its-ground","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=5094","title":{"rendered":"Altcoins due for massive gains as BTC holds its ground"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>Bitcoin price rejuvenates its uptrend as it bounces off a 4-hour demand zone, extending from $41,843 to $42,707.<\/strong><\/li>\n<li><strong>Ethereum price produces a higher high, signaling a continuation of its uptrend.<\/strong><\/li>\n<li><strong>Ripple price revisits the demand zone, ranging from $0.694 to $0.753, as bulls fail to kick-start a rally.<\/strong><\/li>\n<\/ul>\n<p>Bitcoin price reveals a <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/bitcoin-elliott-wave-analysis-2022-202201170438\" rel=\"noopener\">bullish outlook<\/a> albeit a slow one, providing altcoins with an opportunity to run free. The past week is a testament to the recent gains witnessed among many altcoins. While <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/ethereum\" rel=\"noopener\">Ethereum<\/a> continues to remain bullish, Ripple struggles to hold on.<\/p>\n<h2 class=\"fxs_headline_medium\"><strong>Bitcoin price pushes forward<\/strong><\/h2>\n<p>Bitcoin price produced a lower low after the January 13 swing high at $44,439 but managed to set a higher low, keeping the uptrend somewhat intact. As <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/bitcoin-price-gains-the-liquidity-to-breakout-towards-50-000-202201161828\" rel=\"noopener\">BTC bounces<\/a> off a 4-hour demand zone, extending from $41,843 to $42,707, investors can expect the pioneer crypto to make a run for the previous week\u2019s high at $47,609.<\/p>\n<p>This hurdle is present below the 200-day Simple Moving Average (SMA) At $48,590. BTC\u2019s upside potential, though, at least in the short-term, seems to be capped at the aforementioned level.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/BTCPERP_2022-01-17_13-53-50-637780046379354080.png\" rel=\"noopener\"><img decoding=\"async\" alt=\"BTC\/USD 4-hour chart\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/BTCPERP_2022-01-17_13-53-50-637780046379354080.png\" style=\"width: 950px;height: 540px\" \/><\/a><\/p>\n<p><small>BTC\/USD 4-hour chart<\/small><\/p>\n<p>If Bitcoin price fails to see a bullish reaction off of the $41,843 to $42,707 demand zone, it will indicate weakness among buyers. This lack of interest could allow bears to take control and push BTC down to $41,762 \u2013 a four-hour <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/chart\/candlestick-patterns\" rel=\"noopener\">candlestick<\/a> close below there will then invalidate the bullish thesis.<\/p>\n<p>This development could lead <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/bitcoin\" rel=\"noopener\">Bitcoin price<\/a> lower, to retest the $39,87 support level.<\/p>\n<div class=\"youtube_cke fxs_external\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Bitcoin price gains the liquidity to breakout towards $50,000\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/l-qGfrJTG8w?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div>\n<h3 class=\"fxs_headline_medium\">\u00a0<\/h3>\n<h3 class=\"fxs_headline_medium\"><strong>Ethereum price shows strength<\/strong><\/h3>\n<p>Ethereum price is in a similar situation to Bitcoin as it <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/ethereum-price-finds-stable-support-as-eth-targets-4-000-202201161838\" rel=\"noopener\">produced a higher low<\/a> but failed to set up a higher high. As long as BTC remains bullish, ETH will follow suit. Market participants can, therefore, expect the smart contract token to make a run for the 200-day SMA at $3,475.<\/p>\n<p>Clearing this hurdle will open the path for Ethereum price to revisit the daily supply zone, extending from $3,675 to $3,846. The upper limit of this hurdle coincides with the 50-day SMA, indicating that a further uptrend is unlikely.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/ETHPERP_2022-01-17_13-54-37-637780046842481747.png\" rel=\"noopener\"><img decoding=\"async\" alt=\"ETH\/USD 4-hour chart\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/ETHPERP_2022-01-17_13-54-37-637780046842481747.png\" style=\"width: 950px;height: 540px\" \/><\/a><\/p>\n<p><small>ETH\/USD 4-hour chart<\/small><\/p>\n<p>Regardless of the optimistic scenario, Ethereum price needs to hold above the weekly support level at $3,061 to see a meaningful uptrend. A breakdown of this foothold will remove confidence and instill doubt among buyers.<\/p>\n<p>A four-hour candlestick close below the demand zone\u2019s lower limit at $2,927, however, will create a lower low, invalidating the bullish thesis.<\/p>\n<div class=\"youtube_cke fxs_external\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Ethereum price finds stable support as ETH targets $4,000\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/8fHVGM_WXhs?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div>\n<h3 class=\"fxs_headline_medium\">\u00a0<\/h3>\n<h3 class=\"fxs_headline_medium\"><strong>Ripple price lacks motivation<\/strong><\/h3>\n<p>Ripple price has been teetering on a daily demand zone, stretching from $0.693 to $0.753 since the December 4, 2021 crash. One can assume that this barrier has been weakening. Due to its correlation with BTC, however, XRP price is likely to <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/xrp-price-prediction-ripple-looks-bullish-targets-1-202201161859\" rel=\"noopener\">rally 12%<\/a> to retest the 50-day SMA at $0.844.\u00a0<\/p>\n<p>The weakened demand zone could face destruction by a short-term bearish momentum, however, so investors should exercise caution with the remittance token.<\/p>\n<p>In some cases, Ripple price could overcome the immediate hurdle and make a run for the 200-day SMA at $0.954.\u00a0<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/XRPPERP_2022-01-17_13-55-01-637780047104015481.png\" rel=\"noopener\"><img decoding=\"async\" alt=\"XRP\/USD 1-day chart\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/XRPPERP_2022-01-17_13-55-01-637780047104015481.png\" style=\"width: 950px;height: 540px\" \/><\/a><\/p>\n<p><small>XRP\/USD 1-day chart<\/small><\/p>\n<p>On the other hand, if Ripple price produces a daily candlestick close below $0.693, it will create a lower low, invalidating the bullish thesis. This development could trigger a crash, where XRP price could revisit the $0.604 support level.<\/p>\n<div class=\"youtube_cke fxs_external\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"XRP price looks bullish, targets $1\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/BhPR8bkSiCM?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/div>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/top-3-price-prediction-bitcoin-ethereum-ripple-altcoins-due-for-massive-gains-as-btc-holds-its-ground-202201170827\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price rejuvenates its uptrend as it bounces off a 4-hour demand zone, extending from $41,843 to $42,707. Ethereum price produces a higher high, signaling a continuation of its uptrend. Ripple price revisits the demand zone, ranging from $0.694 to $0.753, as bulls fail to kick-start a rally. Bitcoin price reveals a bullish outlook albeit [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5095,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[200,194,132,615,258,1153,527],"class_list":["post-5094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-altcoins","tag-btc","tag-due","tag-gains","tag-ground","tag-holds","tag-massive"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/01\/bitcoins-33758372_Large.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/5094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5094"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/5094\/revisions"}],"predecessor-version":[{"id":5096,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/5094\/revisions\/5096"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/5095"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5094"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}