Top Coins Prep Breakout Rally This Week?

Top Coins Prep Breakout Rally This Week?

With the crypto industry standing at a  $2.31 Trillion market cap and a 24-hour Volume of $134 Billion, the bulls are in total trend control. Further, the most dominant crypto, Bitcoin, of 52% making a new 52W high at $64,000, reflects a high-momentum reversal. 

Being the key driver of the bull turn, the rising inflows of the U.S.-listed Bitcoin Spot ETFs are igniting the uptrend. Despite the significant outflows from the GBTC spiking, the inflows into the other nine drive the momentum. 

With increasing interest from institutional investors and the impending Altcoin season, the bull run is still in the initial stages. Let’s look at the price analysis of the top coins like Bitcoin, Ethereum, and Ripple to find out if they will spike this week.

Will Bitcoin Cross $69,000?

After the formation of a new 52-week high at $64,000, the BTC price creates a huge bullish candle in the weekly chart. As the buying pressure grows, the trading volume surge bolsters the ongoing uptrend. 

Source: Tradingview

In the weekly chart, the BTC price analysis presents an inverted head and shoulder pattern breakout. The breakout rally peaks at $64,000 and promises an uptrend continuation. 

As per the Fibonacci levels, Bitcoin price is ready to challenge the 100% Fib level and a breakout run for a new all-time high. With this breakout rally, the buyers anticipate Bitcoin price to cross the $69,000 mark.

Currently, the BTC price trades at $61,994 with an intraday growth of 0.64%, as buyers take a break on weekends. In the case of the breakout, the Fibonacci levels present $95,952 or the .618 Fib level as the next target. However, the bulls could find a potential high settlement close to $71,500 next week. 

Will Ethereum Drive A New Bull Run To $4,400?

As the Bitcoin price crosses the barrier of $60,000 the bullish sentiment in the altcoins skyrocket this week. Further, the growing anticipations of Whales for an Ethereum ETF leads to increased Whale holding.  

Further, the recent ETH price jump of 52% in the past four weeks resulted in huge bullish candles in the weekly chart. 

Source: Tradingview

As per the ETH price analysis, the bullish reversal teases a rounding bottom breakout with a neckline zone at $3,500. Currently, the Ether trades at $3,431 with an intraday move of 1.85% on the upside. 

Considering the buyers manage a breakout next week, the bull run in Ethereum, per Fibonacci levels, could peak at $3,872.

Ripple’s Triangle Breakout Ready For Ignition

With the XRP price creating lower high formation in the weekly, the ongoing reversal is set to change the trend. As the trend momentum grows with the altcoin season on the door, the XRP price is set for a breakout rally.

Source: Tradingview

The formation of a triangle pattern in the weekly chart is coming to a conclusion and teasing a bullish breakout. Currently, the XRP price is trading at $0.63113 and gives a weekly return of 16.38%. 

With this bullish candle set for a breakout run, Ripple is ready to surpass the 23.60% Fibonacci level. In case of a successful escape, the XRP price could reach the 50% Fib level next week at $0.93.

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About the Author: Daniel