Home Latest News Top 3 Price Prediction Bitcoin, Ethereum, Ripple: What Wall Street doesn’t want...

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: What Wall Street doesn’t want you to know – FXStreet

Tony M. Tony M.
FXStreet

The crypto market is in a critical spot. On-chain analysis tools, in addition to Elliot Wave and classic technical analysis, are being used to gauge potential market behavior.
Bitcoin price currently auctions at $24,051. Bulls should consider moving forward with caution as the BTC price action trades near the edge of an ascending wedge. In recent weeks, the peer-to-peer digital currency has consistently performed in staggered upward motion. Although profits have been made and intended targets have been reached, the uptrend has not been easily accomplished.
Santiment’s Active Transactions Indicator confounds the call for caution as the BTC price has shown a significant influx in daily transactions. On three separate occasions throughout this summer, BTC saw a similar upswing in transactions, which resulted in a large sell-off days after. 
tm/tc/8.12.22 santiment
Santiment Active Transactions 1-Hour Scale
tm/btc/8/12/22
BTC/USDT 1-Day Chart
In the following video, our analysts deep dive into the price action of Bitcoin, analyzing key levels of interest in the market. -FXStreet Team
Ethereum price currently consolidates at $1,900. CryptoQuant’s Withdrawing Transactions on all Exchanges has recently breached new lows for 2022. The indicator may suggest that whales are uninterested in holding the smart contract token for more than a few weeks at a time.
In theory, the less withdrawn tokens from exchanges would translate to more active participants in the market looking to sell a digital asset at a certain price point. Although Ethereum price has shown in recent weeks, a sharp liquidation remains in the cards.

tm/eth/8/12/22
tm/eth/8/12/22
In the following video, our analysts deep dive into the price action of Ethereum, analyzing key levels of interest in the market. -FXStreet Team
 
XRP price shows reason to apply caution. The digital remittance token has also shown an uptick in active transactions according to Santiment’s indicator. In fact, the indicator suggests the most amount of transactions have occurred this summer in retrospect of the last 12 months. Thus, a sharp decline could be in the cards for the XRP price.
xrp.8/12/22
XRP price currently trades at $0.37 as the technicals are on their way to establishing a classical sellers’ pattern on the daily chart. At the time of writing, XRP price is two hours from printing a bearish evening star. This pattern will accompany a double-top formation on the Relative Strength Index, pouring gasoline onto the speculative bearish flame. 
tm./xrp/8/12/22
In the following video, our analysts deep dive into the price action of Ripple, analyzing key levels of interest in the market. -FXStreet Team
 

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Bitcoin price has been on a rollercoaster ride since June 18. The most recent yet explosive run-up has hit targets mentioned in our previous publication. 
Post the successful completion of Ethereum’s Merge and a recovery of the crypto ecosystem’s market capitalization, Shiba Inu is on track to recover from its losses.
Ethereum Classic (ETC) defaults on some very important levels in the aftermath of the software upgrade to crypto bigger brother Ethereum. 
Binance Coin (BNB) price is popping higher while most other cryptocurrencies are on the back foot, unable to recover from the intraday melt-down on the back of Ethereum’s Merge.
Bitcoin price has not only swept key swing lows, as noted in last week’s articles, but it has also reached its first recovery level target. While the recovery rally was as quick as it was a surprise, investors can hope for a minor retracement to get on the next leg-up.
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He is currently Editor at Inferse.com. He is a political columnist for the Finger Lakes Times, Eiram.org, and is the co-founder of InFocus.co. His passions include politics, golf, the media, and gadgets.