{"id":9238,"date":"2022-02-28T09:56:58","date_gmt":"2022-02-28T09:56:58","guid":{"rendered":"http:\/\/egrowonline.com\/?p=9238"},"modified":"2022-02-28T09:56:58","modified_gmt":"2022-02-28T09:56:58","slug":"crypto-markets-eye-bullish-move-as-power-struggle-continues","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=9238","title":{"rendered":"Crypto markets eye bullish move as power struggle continues"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"fxs_article_content\">\n<ul>\n<li><strong>Bitcoin price contemplates a quick run-up to $42,748 despite facing multiple hurdles.<\/strong><\/li>\n<li><strong>Ethereum price is likely to follow BTC, but its upside is capped at $3,188.<\/strong><\/li>\n<li><strong>Ripple price to provide sidelined buyers an opportunity to accumulate before a 35% upswing<\/strong><\/li>\n<\/ul>\n<p>Bitcoin price is trading inside a massive <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/ruble-denominated-bitcoin-volumes-surges-to-9-month-high-202202280816\" rel=\"noopener\">demand zone<\/a>, which is the only thing preventing it from a catastrophic crash. Despite its uber bearishness, BTC bulls are likely to trigger a quick rally to immediate hurdles. Ethereum, Ripple and other altcoins are likely to follow suit.<\/p>\n<h2 class=\"fxs_headline_medium\"><strong>Bitcoin price to gather momentum<\/strong><\/h2>\n<p>Bitcoin price pierced through the $36,398 to $38,895 demand zone on February 24 but managed to recover and prevent invalidating the said barrier. This quick pullback helped BTC bulls retain their bullishness.\u00a0<\/p>\n<p>A quick <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/non-zero-btc-addresses-hit-all-time-high-of-40-million-202202280526\" rel=\"noopener\">run-up<\/a> from here seems likely, therefore, especially if Bitcoin can slice through the 50-day Simple Moving Average (SMA) at $40,221. In such a case, BTC price could make a run to the immediate resistance barrier at $42,748, bringing the total gain to 13%.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/BTCPERP_2022-02-28_10-10-17-637816336385372314.png\" rel=\"noopener\"><img decoding=\"async\" alt=\"BTC\/USD 4-hour chart\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/BTCPERP_2022-02-28_10-10-17-637816336385372314.png\" style=\"width: 949px;height: 540px\" \/><\/a><\/p>\n<p><small>BTC\/USD 4-hour chart<\/small><\/p>\n<p>On the other hand, if Bitcoin price produces a four-hour <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/chart\/candlestick-patterns\" rel=\"noopener\">candlestick<\/a> close below $36,398, it will create a lower low and invalidate the bullish thesis. This development could pave the path for BTC to revisit the $34,752 support barrier.<\/p>\n<div class=\"youtube_cke fxs_external\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Bitcoin at a make or break point, bulls could see a 25% rally and bears could see a 25% crash\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/1sFWFM60RW8?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\"><strong>Ethereum price readies a move higher<\/strong><\/h3>\n<p><a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/ethereum\" rel=\"noopener\">Ethereum price<\/a> is retesting the $2,160 to $2,567 demand zone after tagging it twice over the last week. A <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/ethereum-must-close-above-this-crucial-resistance-level-or-eth-may-drop-to-1-800-202202251315\" rel=\"noopener\">bounce<\/a> here is necessary for ETH to retest the 50-day SMA at $2,863, which is the first major hurdle.<\/p>\n<p>Clearing this blockade will open the path for Ethereum price to retest the daily supply zone, extending from $3,188 to $3,393. This barrier is where the upside for ETH will be capped. Any move beyond this area seems unlikely, considering the consolidative nature of BTC and Ethereum\u2019s <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/technical-analysis\/intermarket\/correlation\" rel=\"noopener\">correlation<\/a> with it.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/ETHUSD_2022-02-28_10-10-42-637816337073091861.png\" rel=\"noopener\"><img decoding=\"async\" alt=\"ETH\/USD 4-hour chart\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/ETHUSD_2022-02-28_10-10-42-637816337073091861.png\" style=\"width: 949px;height: 540px\" \/><\/a><\/p>\n<p><small>ETH\/USD 4-hour chart<\/small><\/p>\n<p>Regardless of the bullishness, a sell-off in Bitcoin price could also translate into a crash for ETH. If Ethereum price produces a four-hour candlestick close below $2,160, it will create a lower low and invalidate the bullish thesis.<\/p>\n<p>In this scenario, ETH will revisit the $1,730 barrier, where buyers can make a comeback if they band together.<\/p>\n<div class=\"youtube_cke fxs_external\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Ethereum must close above this crucial resistance level or ETH may drop to $1,800\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/PEq1owazMQA?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\"><strong>Ripple price hints at comeback<\/strong><\/h3>\n<p>Ripple price is stuck trading under a declining trend line that has prevented it from moving higher. There is a good chance that this price action will knock XRP lower to a stable support level. The twelve-hour demand zone, extending from $0.55 to $0.63 is the foothold that will absorb the incoming selling pressure and allow the remittance token to form a base.<\/p>\n<p>A reverse from here will likely <a target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/cryptocurrencies\/news\/xrp-price-to-provide-a-buying-opportunity-before-ripple-explodes-to-085-202202280454\" rel=\"noopener\">propel Ripple price 35% higher<\/a> and tag the immediate resistance barrier at $0.85. The liquidity resting above $0.85 is the reason why market makers will push XRP price to sweep above it.<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/XRPUSD_2022-02-28_10-10-50-637816337471847361.png\" rel=\"noopener\"><img decoding=\"async\" alt=\"XRP\/USD 6-hour chart\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/XRPUSD_2022-02-28_10-10-50-637816337471847361.png\" style=\"width: 949px;height: 540px\" \/><\/a><\/p>\n<p><small>XRP\/USD 6-hour chart<\/small><\/p>\n<p>While things are looking up for Ripple price, a breakdown of the demand zone will create a bearish lower low. Therefore, a six-hour candlestick close below $0.55 will invalidate the bullish thesis and open the path for a steep correction.<\/p>\n<div class=\"youtube_cke fxs_external\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"XRP recovers from Thursday&#039;s sell-off, range-bound trading expected going into the weekend\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/xTGKDQxR3lE?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-crypto-markets-eye-bullish-move-as-power-struggle-continues-202202280834\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price contemplates a quick run-up to $42,748 despite facing multiple hurdles. Ethereum price is likely to follow BTC, but its upside is capped at $3,188. Ripple price to provide sidelined buyers an opportunity to accumulate before a 35% upswing Bitcoin price is trading inside a massive demand zone, which is the only thing preventing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9239,"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":[45],"tags":[359,1196,62,3893,89,883,1152,1649],"class_list":["post-9238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-bullish","tag-continues","tag-crypto","tag-eye","tag-markets","tag-move","tag-power","tag-struggle"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/02\/bitcoin_4_Large.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/9238","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=9238"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/9238\/revisions"}],"predecessor-version":[{"id":9240,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/9238\/revisions\/9240"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/9239"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9238"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}