The cryptocurrency market continues to record a bearish price action during the first week of April, indicating a high possibility of the crypto market recording 4 consecutive negative trading months. The price of Bitcoin continues to struggle around its $82,000 level, suggesting a rising FOMO-like situation in the market.

Following this, top altcoins such as Ethereum & XRP tokens have experienced a bearish week by losing ~1.5% in their respective valuations. However, with a high possibility of a Bitcoin reserve bill, the chances of the global crypto market experiencing a positive bounce back are relatively high. 

Notably, by evaluating the present market sentiments, investors and top traders are concerned about the short-term prospects of the 3 of the largest cryptocurrencies by market cap. In this article, we will explore the possible weekly price predictions of Bitcoin, Ethereum, and XRP.

Crypto Market Continues Its Bearish Streak!

Over the past 24 hours, the crypto market has added 0.12% to its valuation with a trading volume of $70.96 billion. Moreover, with a global cap of $2.65 Trillion, this digital asset market has recorded a variation of ~$20 billion with a weekly top of $2.78 Trillion.

Will Bitcoin Price Hold Its $82,000 Mark?

Bitcoin price today continues around the $82,000 mark with a trading volume of $22.724 billion, a change of -56.23%. Furthermore, it continues trading within the triangle pattern in the daily time frame, suggesting rising uncertainty for the largest crypto token by market cap this week.

The Moving Average Convergence Divergence (MACD) displays a constant flatline in the green histogram, indicating weak buying pressure in the crypto space. On the other hand, averages record a similar price action in the daily time frame.

The Simple Moving Average (SMA) displays a similar price action by acting as a resistance to the Bitcoin price chart. This highlights a mixed price outlook for the price of BTC token during the upcoming week..

Suppose, a bullish reversal occurs, this could result in the BTC price retesting its important resistance zone of around the $88,000 mark. However, a sustained bearish action could result in the BTC price plunging toward its crucial low of $78,535 in the upcoming time.

Ethereum Price Hovers Around Its Pivotal Levels!

Ethereum price today continues trading below its crucial support trend level of $1,800. With a 24-hour trading volume of $9.438 billion, the largest altcoin has cut 1.17% in its valuation. Moreover, the dominance of this crypto token has now dropped to 8.121%, raising concerns about the possibility of a prolonged altcoin season. With a market capitalization of $215.234 billion, it is exchanging hands at $1,780.16.

As the market maintains its bearish action, the short-term technical indicators witness a notable drop in the Ethereum price chart. Furthermore, with the market dropping to extreme fear, the ETH crypto token may continue trading under a negative sentiment.

If the bulls regain momentum, the price of Ethereum coin could regain momentum, breach its immediate resistance of $1,800, and head toward its upper price target of $2,000. On the other hand, increased liquidations could pull the price toward its pivotal low of $1,500 this month.

XRP Price Successfully Retests Its Crucial Support Zone!

The Ripple price has formed strong support around the $2 mark in the daily time frame, highlighting a major buying point at that level. Moreover, it is currently valued at $2.12 with a trading volume of $3.08 billion, a change of 55.32% over the past 24 hours.

The technical indicators MACD & SMA have both recorded a mixed price action. While one records a rising bullish sentiment, the other displays a negative price trend. This suggests an increase in the price action of the 2nd largest altcoin.

The chances of XRP coin price retesting its crucial support of $1.54 is relatively low, but such a situation cannot be ignored. However, if the bulls outrun the bears, this could result in this altcoin heading toward its upper price target of $2.50 in the coming time.

Also Read: Trader Predicts Ethereum to Mirror Bitcoin’s 2021 Move, Could Hit $25k