Bitcoin price hit a new all-time high in early Asian trading today. This has led to the altcoin market experiencing similar price trends. The crypto space is hinting at a possible bull run ahead as fear and greed indicators turn extremely bullish. With volatility in the crypto market increasing, is now a good time to invest in top cryptocurrencies? In this article, we cover market sentiment and possible price analysis for Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) crypto tokens.
Bitcoin (BTC)
BTC price has increased by 1.03% in the past day, with a trading volume of $67.041 billion. In addition, it has increased by 4.01% in the past week and 18.92% in the past 30 days.
TradingView：BTC/USDT
The Simple Moving Average (SMA) is about to record a bullish convergence on the 1D timeframe, and its MACD indicator is recording a similar trend trajectory on the Bitcoin price chart. This highlights the positive sentiment towards the star cryptocurrency.
Sustaining the price above the $73,750 support would set the stage for BTC price to move towards the $80,000 level in the coming weekend. On the other hand, a trend reversal could pull the market leader towards the $70,000 range.
Ethereum (ETH)
Ethereum price rose by about 8% and was one of the best performing altcoins on the front page today. Notably, it rose by 15.01% and revisited the $28,000 level.
TradingView：ETH/USDT
The Relative Strength Index (RSI) recorded a sharp rise in the Ethereum price chart, with a bullish crossover of its average trendline. The altcoin leader highlighted the increase in buying pressure as the bullish sentiment of the EMA 50/200 day continued to rise.
If the market continues to be bullish, ETH price will drop towards the overhead resistance of $3,200 this month. Conversely, if the bears outperform the bulls, Ethereum price may retest the $2,500 support level.
Ripple (XRP)
XRP has gained 2.64% in the past day and 5.62% in the past week. Moreover, its value is now over $0.54. This makes it a 2-month high.
TradingView：XRP/USDT
The Moving Average Convergence Divergence (MACD) continues to rise in the green histogram, with its average showing an increasing positive influence. This suggests that the XRP token is likely to continue to appreciate in value in the coming period.
If the bulls continue to gain momentum, the XRP price will move towards its local highs at $0.630. Conversely, if the bears dominate the crypto space, this altcoin might retest its lower support at $0.50.
