The crypto market has seen quite a price rise in recent weeks suggesting there could be more to the upside for top 5 cryptos like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Cardano (ADA), and Shiba Inu (SHIB).
Ripple (XRP) and other great crypto projects saw much spike rallying with over 60% gain in less than 12 hours of Ripple (XRP) winning its lawsuit against the US Security and Exchange Commission (SEC).
This price rally suggests more price gain could be in the pipeline for these top 5 cryptos (BTC, ETH, XRP, ADA, SHIB).
Top 5 Cryptos – Daily Timeframe Price Analysis For Bitcoin (BTC)
Despite showing incredible strength rallying from a low of $25,500, the price of Bitcoin (BTC) has struggled to break above the yearly high of $31,500, acting as strong resistance for BTC price.
BTC’s price needs to break and close above the daily $31,500 region for bulls to push the price to a high of $34,000.
If the price of BTC, as a top 5 cryptos to watch, fails to break above $31,500, there are high chances of price retesting the support region of $28,500 if the support of $30,200 is lost as this has acted as a range bound region for the price of BTC for weeks.
Bitcoin 4H (Four Hourly) Timeframe Analysis
The price of Bitcoin has remained in a range for the past 20 days as this suggests the price of BTC could go in the direction where there are more buy or sell options in the coming days or weeks.
Bitcoin’s price action suggests we could see the price going higher if the range is broken to the upside of $31,500. The price has held well above the 200 Exponential moving average (EMA), acting as a support zone for long positions.
Ethereum (ETH) Price Analysis on the Daily (1D) Timeframe
Ethereum’s price action hasn’t been convincing like the other crypto assets rallying with over 60% gain. ETH has struggled with much of a range movement as the price cannot break above $2,000 conveniently with being rejected.
The region of $2,020 continues to serve as an area of interest for many sellers as there are more short positions in this region. A break and close for ETH above the region of $2,020 could see ETH rally more to a high of $2,200 or $2,500.
For buyers, key areas to pay attention to include $1,800, where a long position can be opened, or $2,020, for a short entry position.
The 50 Exponential Moving Average (EMA) of $1,860 is temporary support for long positions; a break below this region could mean a retest of key support of $1,800.
Top 5 Cryptos – Ethereum 4H Price Analysis
The price of Ethereum continues to trade above key levels of 50 and 200 Exponential Moving Averages (EMA) that correspond to $1,900 and $1,870, acting as minor support regions for the price of ETH.
Ethereum’s price needs to break and close above $2,050 on the four hourly timeframes, as this will convince Bulls to push the price to a high of $2,500.
Ripple’s (XRP) Daily (1D) Price Analysis After Winning Lawsuit Against SEC
The announcement of Ripple (XRP) winning its lawsuit against the SEC has lingered for years. The news came as a catalyst for this top crypto asset as the price of XRP broke out of its descending triangle as the price rallied to a high of $0.93, creating a new yearly high of over 80% in less than 12 hours.
With this news coming as a good development, we could see XRP rallying more to $1 if this hype is sustained as the price looks good, holding above $0.55 and acting as a support zone for many buyers.
Ripple’s (XRP) Four Hourly (4H) Chart Analysis
The price of XRP holding above the highs of $0.60 suggests the price of XRP is increasingly bullish above its support region of $0.60. With more buy orders coming into XRP as we head into a new week.
We could see the price breaking $1 in the coming weeks or days as one of the top 5 cryptos to pay attention to.
Cardano Price Speculation on the Daily (1D) Timeframe
Unsurprisingly, Cardano (ADA) has emerged as one of the top 5 cryptos to pay close attention to, as data suggest the ADA price could rally high above $0.60.
The price of ADA has struggled to show much price action above $0.40 for weeks now as the price of ADA faces strong resistance at $0.35 and $0.40, stopping the price from rallying higher.
If the price of ADA breaks above $0.40 and closes above these regions, we could see the region of $0.60 reclaimed in no time by bulls.
Cardano (ADA) 4H Chart Analysis
The price of ADA on the 4H timeframe suggests the price being rejected from its 4H resistance of $0.35 as the price of ADA could retest the region of $0.30, acting as a temporary support zone above the 50 and 200 EMA.
If the price of ADA fails to hold above $0.30, ADA’s price would likely sweep the regions of $0.26, where most buy orders would be filled.
Shiba Inu (SHIB) Price Analysis On the Daily (1D) Timeframe
Shiba Inu (SHIB) is one of the top 5 cryptos to hold during a trending market, as it has the potential to help one build a robust portfolio. The price of SHIB has struggled to show much price action as its price dropped to a low of $0.000006 as the price bounced off this region to a high of $0.000008.
The price of SHIB has formed an ascending triangle as it faces resistance at $0.0000820 to break higher. A break and close for the price of SHIB above $0.00000820 and $0.00000990 could see the price of SHIB rallying to a high of $0.000012.
Shiba Inu (SHIB) 4H Technical Analysis
The price of SHIB needs to close above the high of $0.00000850 to resume more bullish price action. Considering their potential during price rallies, SHIB’s army would want to buy more into these top 5 cryptos.
A break and close above $0.00000990 for SHIB could push the price to a high of $0.00001500.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
NFTxLV - Sep 29 - Oct 1, 2023 | Las Vegas Convention Center
Discover the intersection of art and blockchain with NFTxLV, where the world of NFTs collides with the allure of Las Vegas, creating an unforgettable experience for collectors, artists, and enthusiasts alike.GET TICKETS!