Bitcoin, Ethereum, Ripple – Emerging Bullish Trends and Key Levels Tested 

Bitcoin Price Anticipates Bull Run, Ethereum and Ripple at Pivotal Moments

• Bitcoin (BTC) demonstrates resilience, maintaining the crucial $40,000 (AUD 60,800) support level, as the Relative Strength Index (RSI) indicates readiness for potential selling pressure.
• Ethereum (ETH) holds steady, supporting the uptrend with $2,147 (AUD 3,263) as a significant pivot point.
• Ripple (XRP) faces a potential 7% decrease, eyeing the $0.5773 (AUD 0.8775) support level as bullish momentum wanes.

Bitcoin’s Healthy Retest Positions for New Peaks

Bitcoin’s recent dip to an intra-day low of $40,400 (AUD 61,408) is being viewed as a healthy correction, reaffirming the importance of the $40,000 (AUD 60,800) support level. Maintaining this level could be a precursor of new highs to come. The market dynamics for Bitcoin are looking optimistic, with the RSI solidly above 70 and the Awesome Oscillator displaying robust green bars, signalling continued bullish momentum. Breaking through the weekly supply zone, which ranges between $40,698 (AUD 61,858) and $46,999 (AUD 71,358), is crucial for sustaining this upward trend.

Should Bitcoin decisively surpass the $43,860 (AUD 66,678) mark, it could effectively transform this supply zone into a springboard for further gains, possibly propelling its value to the $66,098 (AUD 100,388) resistance level. Conversely, if Bitcoin is unable to penetrate this zone, we might witness a retreat below $40,000 (AUD 60,800), potentially leading to a downturn towards the $30,000 (AUD 45,600) psychological threshold.

Ethereum Shows Bullish Promise Amid Market Resilience

Ethereum, experiencing a 9% drop in market value, reflects the broader market’s correction while still holding steady above the crucial AUD 3,263 (USD $2,147) support level. This ongoing consolidation within an ascending channel suggests that Ethereum’s potential for further growth remains strong.

However, should there be a downturn breaching this vital support level of AUD 3,263, it might indicate a shift away from its current bullish trajectory. This scenario could see Ethereum’s price gravitating towards a more critical support level at AUD 3,040 (USD $2,000), potentially signalling a more substantial market adjustment.

Ripple’s XRP: A Bullish Outlook Amidst Potential Dips

Ripple’s XRP, experiencing a 10% reduction at the beginning of the week, faces a potential 7% decline towards AUD 0.8775 (USD 0.5773). The RSI’s downward trajectory, dipping below the midline of 50, highlights a diminishing bullish drive.

If this bearish momentum persists, Ripple’s XRP could further descend to a critical psychological threshold of AUD 0.7600 (USD 0.5000), which would represent a notable 20% fall from its present value. On the other hand, should investor interest see a resurgence, XRP might ascend towards a key supply zone that lies between AUD 0.9988 (USD 0.6572) and AUD 1.0875 (USD 0.7161). Surpassing the mid-level of this range at AUD 1.0415 (USD 0.6850) could pave the way for Ripple’s XRP to escalate as high as AUD 1.2160 (USD 0.8000), translating to an impressive 30% increase from where it currently stands.

 

About Ainslie Crypto:

Considering securing your cryptocurrency trading, purchasing, or exchanging strategies? Connect with Ainslie Crypto’s team at 1800 AINSLIE or via info@ainsliecrypto.com.au. We offer dedicated, personalised ‘human to human’ assistance to ensure the seamless, secure integration of cryptocurrency into your portfolio, whether for personal investment, business strategy, or your Self-Managed Super Fund (SMSF). Ainslie have been a trusted dealer and custody provider for Gold 1.0 for 50 years and bring the same service to Gold 2.0, Bitcoin, since 2017.

In an era where traditional banking systems impose increasing limitations, Ainslie Crypto offers a forward-thinking payment solution with our Australian Digital Dollar (AUDD) platform. Developed by Novatti, AUDD allows you to navigate beyond the constraints of conventional financial systems, offering stability, security, and ease in your crypto transactions. 

Unchain yourself on-chain.

Want to swap directly between bullion and crypto? Ainslie seamlessly provide swaps between these two hard assets.

At Ainslie, our commitment extends beyond just transactions. We specialise in providing secure digital wealth protection. Our robust crypto custody services are backed by rigorous, real-time internal audits, ensuring your investments are not only secure but also managed with the highest standard of care and expertise. You can always see your own segregated wallet address and balance, value and trade history. Trust Ainslie Crypto to be your partner in navigating the dynamic world of digital assets, where we blend human insight with advanced technology to deliver a service that stands apart in the industry.