Bitcoin has picked up its bullish momentum in the last 24 hours. High levels of Institutional adoption, fundamentals, and on-chain indicators look bullish and point to an extension of the rally, at least, in the long term.

In a recent report, Senior Commodity Strategist for Bloomberg Intelligence, Mike McGlone, states that Bitcoin is in a “transition phase.” As a result, the benchmark cryptocurrency could move from being a “risk asset” to become a global reserve asset.

Comparing the “rhythm” of Bitcoin’s 2017 bull market to the current one, McGlone estimates that Bitcoin’s price could peak at about $400,000 by the end of the year. In the chart below, he notes a correlation between surges in the cryptocurrency’s price and a rise in its Liquidity Index.

In late 2020 and early 2021, it can be seen how the latter metric has seen two significant growths. Recent Bitcoin price action and the approval of several Exchange Traded Fund (ETF) in Canada have had an impact on Grayscale Bitcoin Trust (GBTC). This product has been one of the most favored for institutional adoption.

However, its premium has trended lower in recent days. On the relationship between BTC’s price and the drop in GBTC’s premium, McGlone concludes:

Bullish underpinnings for GBTC are gaining legs, as it outpaced Tesla by almost 50% this year. The increasing probability for Bitcoin ETFs in the U.S. is supporting the price…but contributing to the GBTC discount.

In the short term, the sideways trend Bitcoin price has seen recently could change and shift in the bulls’ favor. A “massive” amount of GBTC shares will be “unlocked” in the immediate future. The benchmark cryptocurrency could benefit, as analyst Ben Lily stated:

Which is creating a lot of uncertainty to its future. What I’d like to remind readers is each time a wave of large unlockings hit, not only does bitcoin’s spot price rise, but the share price of the Trust gains in value with respect to its underlying holdings (NAV). If we ignore the fact it’s at a discount then the likelihood of this measure to rise based on history is batting one-thousand-perfect.

Bitcoin’s Stock to Flow model creator, Plan B, has published estimates that coincide with Bloomberg’s analyst’s forecasts. In his latest chart based on the referenced controversial model, Bitcoin’s price could approach $500,000 by the end of 2021.

— PlanB (@100trillionUSD) March 26, 2021

Bitcoin is trading at $53,657 with gains of 3.4% on the last day. Although the monthly chart shows gains of 10.1%, the weekly chart is in the red with losses of 7.5%. The market capitalization stands at $1.01 trillion.

Bitcoin (BTC) appears set to challenge record highs in the wake of this week’s dovish Federal Reserve meeting.

One expert, however, is calling caution, based on his observation of price charts as bitcoin rose from lows near $43,000 seen earlier this month. The chart pattern has taken the shape of what’s known as a rising wedge, a sign of uptrend fatigue.

“My concern is growing that we might run into a rising wedge scenario,” Patrick Heusser, head of trading at Swiss-based Crypto Finance AG, told CoinDesk in a Telegram chat. The wedge’s support line is pretty strong, with more than four touchpoints, and that does give me some confidence, though, if we break lower through the trendline, which is when things could get ugly.”

The rising wedge comprises converging trendlines connecting higher lows and higher highs. The converging nature of the trendline indicates the waning of upside momentum. Hence, a breakdown – a move below the lower end of the rising wedge – is considered a sign of bullish-to-bearish trend change.

According to Heusser, a move below $54,000 would confirm the rising wedge breakdown and open the doors for a drop to $47,000. The immediate bias will remain bullish while the wedge support is held intact.

At press time, bitcoin is changing hands near $58,900, having put in lows under $56,500 early Friday, according to CoinDesk 20 data.

The cryptocurrency jumped from $55,000 to $60,000 earlier this week after the Fed signaled no interest rate hike until at least 2024, pushing back against growing fears of an early unwinding monetary stimulus.

Also read: Nexo: $100K BTC Is Inevitable but Won’t Be a Smooth Ride

Some analysts say the Fed’s dovish tone has put the cryptocurrency on the path to new record highs above $62,000. Patrick voiced similar opinion, while pointing to the rising wedge.

“In terms of the bigger picture, I see no change. We are still in a bullish scenario, but the consolidation phase will take a little longer and that is not a bad thing,” Heusser said.

The BTC price is struggling to get back to its recent highs above $60k. The flagship digital asset dipped to lows of $53K during the Asia-Pacific session but has since managed to gain some ground. 

Bulls temporarily took over bitcoin’s price action resulting in a recovery above $54,500. During the European session, the BTC/USD exchange rate rebounded by over 2.5% and revisited the psychological price floor at $55K.

There was a retest of $57K as investors flocked to re-accumulate the king coin. That uphill move raised expectations among traders that BTC would hold above the support at $55K during the US session. 

At the time of writing, the world’s leading cryptocurrency is down 3.43% at its price of $55,685. If bitcoin fails to correct higher above $56,000, there is a possibility of more downsides towards the $54K support in the near SD Chart By TradingView

Even though BTC has failed to extend its rebound towards $58K, bitcoin’s Energy Value Oscillator says that the current bull cycle still has plenty of room to grow.

The metric, designed by renowned crypto analyst and bitcoin expert Charles Edwards, measures the amount of energy pumped into the BTC network at any given time to keep it operational.

The network’s proof-of-work algorithm takes that energy and converts it into monetary power via a complex process involving specialized computers called miners.

Edward’s metric measures that activity and converts it into a technical indicator based on fundamentals. According to the analytics tool, BTC investors can look forward to another 350% increase in the price of the coin.

Should the prediction come true, BTC would gain an additional $200K to its current price level, bringing the value per coin to around $260,000. 

Bitcoin Energy Value Oscillator Says Bull Run Is Far From Over | Source TradingView

IOTA rose to its highest levels in over three years as traders anticipated the upcoming overhaul of its Internet-of-Things protocol, scheduled for next month. 

The IOTA CEO, Dominik Schiener, gave details of the imminent makeover in an interview with ZDNet. He explained that the new framework would introduce a distributed ledger that does not require electricity, miners, or even transaction fees.

Mr. Schiener added that the technology dubbed Chrysalis is “going to be production-ready” and billions of users will be able to utilize and benefit from it. 

Besides making the IOTA project more appealing to investors, Chrysalis will also get rid of the coordinator node, a controversial feature in IOTA that denotes the power to approve transactions to just a few nodes.

Following Schiener’s remarks, IOTA’s price exploded as market speculators pushed their bids for the token higher. The project’s native token is now up over 450% since the start of        IOTA/USD Chart by TradingView

Bitcoin (BTC) Price Prediction – March 26

BTC/USD is on track for having the first bullish day after several falls as the bulls take the price up from $51,320 to $54,096.

Resistance Levels: $58,000, $60,000, $62,000

Support Levels: $48,000, $46,000, $44,000

BTC/USD is seen recovering above the previous support turned resistance of $54,000. Today, short-term price action has formed a wedge that has clearly broken to the upside. This has resulted in price levels attempting to continue the uptrend. Buying volume has yet to flood back into the market and will be required in order to sustain any form of a new uptrend.

Meanwhile, as long as the 9-day remains above the 21-day moving averages, traders can expect BTC to consolidate at higher levels. That’s if we could see a further climb above the $54,000 which is fast approaching; it may likely reach the resistances at $58,000, $60,000, and $62,000. Nevertheless, the critical support levels are located at $48,000, $46,000, and $44,000 respectively.

Currently, the Bitcoin price follows a dominant bullish bias. A glance at the technical indicator RSI (14) displays a positive picture of the coin in the near-term. Besides, maintaining a gradual upward slope above the 60-level, the technical indicator is increasing as a signal for growing buying entries.

Looking technically, BTC/USD needs to climb $55,000 above the upper boundary of the channel to mitigate the short-term bearish pressure and allow for an extended recovery towards $56,000. This psychological barrier may closely follow by $57,000 and $59,000 resistance levels.

In contrast, the nearest support is at $53,000, and a sustainable move lower will increase the downside pressure and push the price towards $52,000 and $50,000 support levels. Considering that the RSI (14) on a 4-hour chart is moving to cross above the 50-level, traders might expect more bullish signals into the market.

A running correction forms on the Bitcoin daily chart, and so the Bitcoin price looks poised to make a new leg higher. Ahead of the end of the month price action, Bitcoin remains bid as the market forms either a double or a triple running flat.

Bitcoin has had a lot of negative publicity lately. The digital currency consumes a tremendous amount of energy, and for this reason, many detractors are calling a top on the price of Bitcoin every time it makes a new all-time high.

However, the reality is that the price action is extremely bullish, and it appears that the market is forming a running correction. According to the Elliott Waves theory, such a correction forms ahead of the extended wave, which means that the $60k level is just part of a correction, and not the top in the price of Bitcoin.

A running correction is characterized by the price action ending above the previous wave’s high. The correction has maximum three simple corrections, connected by two intervening waves.

At this point, the market formed two simple corrections connected by an x-wave. It may form another correction, or the extended wave may start now. In both cases, it means a new leg higher.

Bulls may want to remain on the long side, with a stop at the previous higher low and a take profit derived using a 1:3 risk-reward ratio.

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XRP price – ADA price – Top 3 price Prediction Bitcoin, Ethereum, Ripple: Crypto bull cycle awaits Bitcoin’s imminent upswing beyond $62,000 | Fintech Zoom

ADA price – Top 3 price Prediction Bitcoin, Ethereum, Ripple: Crypto bull cycle awaits Bitcoin’s imminent upswing beyond $62,000

The cryptocurrency bullish cycle is still intact, although it has reduced the aggressiveness. Bitcoin hit a wall marginally under $62,000 over the weekend, but a reversal occurred toward $53,000. The rebound that came into the picture failed to overcome the hurdle at $60,000, which explains the ongoing minor retreat.

Ethereum also tested support at $1,700 but is currently struggling with sustaining price action above $1,800. The cross-border token, Ripple, is dancing at $0.47 while focusing on making a real break above $0.5

Cardano is the most improved cryptoasset, with gains above 15%. The upcoming smart contract token has become the darling of the cryptocurrency space after listing on Coinbase Pro earlier in the week.

The pioneer cryptocurrency is trading slightly under $58,000 following a retreat from highs above $59,000. Recovery from the recent dip to $53,000 lost steam before tackling the seller congestion at $60,000. However, support is envisioned at the 50 Simple Moving Average (SMA) on the 4-hour chart, whereby more buyers are expected to join the market.

Bitcoin only needs to slightly push upward to lift off to a new all-time high based on the strong technical levels. For instance, the Moving Average Convergence Divergence (MACD) has a bullish bias and is holding within the positive territory.

BTC/USD 4-hour chart

Ether had sliced through the resistance at $1,800, but seller congestion at $1,850 cut short the breakout. A retreat followed with the price tumbling under the 50 SMA on the 4-hour chart. Sell orders appear to have been triggered following the slide below $1,800.

Meanwhile, Ethereum is trading at $1,790 as bulls fight to secure support at the ascending channel’s lower edge. If this support is lost, Ether will be bound to fall to $1,700, where support has been provided by the 100 SMA and the 200 SMA.

Note that closing the day above the $1,800 and the 50 SMA would open the road for gains toward $2,000.

ETH/USD 4-hour chart

XRP is trading above a symmetrical triangle pattern. This is the second time the cross-border token has broken out of this pattern. If the 200 SMA resistance (marginally under $0.5) cracks, XRP would complete the 34% upswing target to highs around $0.63.

The MACD indicator has been on an upward roll since the minor dip at the beginning of the week. The action beyond the mean line will signal that the trend is mainly in the bulls’ hands. Moreover, closing the day above $0.5 will confirm to the bulls that Ripple is primed for gains to higher price levels.

XRP/USD 4-hour hour chart

It is worth mentioning that the upswing will fail to occur if overhead pressure mounts under the 200 SMA. The downside support at the 50 SMA and 100 SMA must hold to cushion XRP from the drop. However, losses will increase appreciably of the price breaks under the robust support at $0.4.

XRP price – ADA price – Top 3 price Prediction Bitcoin, Ethereum, Ripple: Crypto bull cycle awaits Bitcoin’s imminent upswing beyond $62,000 | Fintech Zoom Tags: XRP price

Bitcoin Price Prediction (BTC) – March 23

The Bitcoin price remains below the moving averages, trading at $53,366 support.

Resistance Levels: $60,000, $62,000 $64,000

Support Levels: $48,000, $46,000, $44,000

BTC/USD is currently facing a setback as this might not be a permanent one. The coin is likely to have a bullish run in the short-term but a price rally may help the coin to touch its daily high. Currently, Bitcoin is trading around $53,366 level after a free fall from $55,396 a few hours back and the coin has shown tremendous volatility over the past few days.

Looking at the daily chart, for the coin to touch the low of $53,000 today, if the price should slump below this support level, the $50,000 mark could be an important zone to keep an eye on. Therefore, crossing below the lower boundary of the channel could hit the supports at $48,000, $46,000, and $44,000, making room for BTC to fall even further.

On the other hand, the technical indicator RSI (14) for the coin is hovering around the 50-level as trading volume is fading out. If the king coin decides to move the price above the moving averages, BTC/USD may see resistance levels at $60,000, $62,000, and $64,000. Nevertheless, Bitcoin is still expected to bounce back above $55,000 in order to complete the second part of its correction.

A few weeks ago, Bitcoin’s price surges upward catapulting its price to touch the high of over $58,000. After this sudden rise, the coin started dropping in price to where it’s trading currently at $55,481. Therefore, should the market price drops further; it could reach the nearest supports at $53,000, $51,000, and $49,000 respectively.

Moreover, if the bulls push the coin above the moving averages, the price of Bitcoin could hit the resistance at $56,000 before heading to the potential resistance levels of $58,000, $60,000, and $62,000. More so, the market is likely to follow a bullish trend as the RSI (14) indicator moves to cross above 40-level.

Chainlink is a decentralized oracle network that brings off-chain data into an on-chain format, bridging the gap between the isolated blockchain and real-world data.

It aims to ensure that the external information (pricing, weather data, event outcomes) fed to smart contracts remains untampered with.

Chainlink is built on top of the Ethereum blockchain and Chainlink (LINK) is the native token of the protocol. LINK is used to pay Chainlink network operators for their services.

Chainlink web site: https://chain.link/

LINK Price Prediction: -prediction/

Timestamps 00:00 Introduction to Chainlink 03:41 LINK Price Prediction

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<b Bitcoin is trading at $58,130 at the time of writing and is holding above the 26 EMA support level on the daily chart. This moving average is a crucial support point for the bulls. 

<b p>

<b D daily chart

<b id="docs-internal-guid-3d13cb9c-7fff-de48-fd9c-670b25b38ae2">A breakout above the previous all-time high of $61,844 should swiftly drive the Bitcoin price toward $76,199 at the 127.2% Fibonacci level. The In/Out of the Money Around Price (IOMAP) chart shows practically no resistance ahead. 

<b id="docs-internal-guid-3d13cb9c-7fff-de48-fd9c-670b25b38ae2">BTC IOMAP chart

<b id="docs-internal-guid-3d13cb9c-7fff-de48-fd9c-670b25b38ae2">The strongest barrier is located between $58,578 and $59,000, with a total volume of 124,000 BTC. On the other hand, losing the 26 EMA support level, currently located at $54,300, would push the Bitcoin price down to the psychological level of $50,000, which coincides with the 78.6% Fibonacci retracement level.

<b id="docs-internal-guid-3d13cb9c-7fff-de48-fd9c-670b25b38ae2">On the 4-hour chart, the Ethereum price has established a descending triangle pattern with its resistance trend line formed at $1,830 and support at $1,740. 

<b D 4-hour chart

<b id="docs-internal-guid-3d13cb9c-7fff-de48-fd9c-670b25b38ae2">For a breakout, Ethereum also has to conquer the 50 SMA resistance level at $1,808 and then beat $1,830, which should drive the Ethereum price up to $2,000 in the short term.

<b id="docs-internal-guid-3d13cb9c-7fff-de48-fd9c-670b25b38ae2">On the other hand, losing the 100 SMA at $1,780 would quickly push ETH down to the lower trend line at $1,740. A breakdown below this point has a price target of $1,567, which is a 10% move calculated using the height of the pattern as a reference point.

<b id="docs-internal-guid-3d13cb9c-7fff-de48-fd9c-670b25b38ae2">The SEC sued Ripple for allegedly selling illegal securities in the form of XRP tokens. However, the SEC's lawyer, Jeremy Hogan, stated that although Ripple might have sold XRP illegally, investors did not, which means that exchanges should be safe to list XRP again.

<b D 4-hour chart

<b y, XRP managed to climb above a critical resistance level at $0.495 with a price target of $0.57, which was almost hit as the digital asset trades at $0.55 at the time of writing. The next target is located at the psychological level of $0.60.

The cryptocurrency bullish cycle is still intact, although it has reduced the aggressiveness. Bitcoin hit a wall marginally under $62,000 over the weekend, but a reversal occurred toward $53,000. The rebound that came into the picture failed to overcome the hurdle at $60,000, which explains the ongoing minor retreat.

Ethereum also tested support at $1,700 but is currently struggling with sustaining price action above $1,800. The cross-border token, Ripple, is dancing at $0.47 while focusing on making a real break above $0.5

Cardano is the most improved cryptoasset, with gains above 15%. The upcoming smart contract token has become the darling of the cryptocurrency space after listing on Coinbase Pro earlier in the week.

The pioneer cryptocurrency is trading slightly under $58,000 following a retreat from highs above $59,000. Recovery from the recent dip to $53,000 lost steam before tackling the seller congestion at $60,000. However, support is envisioned at the 50 Simple Moving Average (SMA) on the 4-hour chart, whereby more buyers are expected to join the market.

Bitcoin only needs to slightly push upward to lift off to a new all-time high based on the strong technical levels. For instance, the Moving Average Convergence Divergence (MACD) has a bullish bias and is holding within the positive territory.

BTC/USD 4-hour chart

Ether had sliced through the resistance at $1,800, but seller congestion at $1,850 cut short the breakout. A retreat followed with the price tumbling under the 50 SMA on the 4-hour chart. Sell orders appear to have been triggered following the slide below $1,800.

Meanwhile, Ethereum is trading at $1,790 as bulls fight to secure support at the ascending channel’s lower edge. If this support is lost, Ether will be bound to fall to $1,700, where support has been provided by the 100 SMA and the 200 SMA.

Note that closing the day above the $1,800 and the 50 SMA would open the road for gains toward $2,000.

ETH/USD 4-hour chart

XRP is trading above a symmetrical triangle pattern. This is the second time the cross-border token has broken out of this pattern. If the 200 SMA resistance (marginally under $0.5) cracks, XRP would complete the 34% upswing target to highs around $0.63.

The MACD indicator has been on an upward roll since the minor dip at the beginning of the week. The action beyond the mean line will signal that the trend is mainly in the bulls’ hands. Moreover, closing the day above $0.5 will confirm to the bulls that Ripple is primed for gains to higher price levels.

XRP/USD 4-hour hour chart

It is worth mentioning that the upswing will fail to occur if overhead pressure mounts under the 200 SMA. The downside support at the 50 SMA and 100 SMA must hold to cushion XRP from the drop. However, losses will increase appreciably of the price breaks under the robust support at $0.4.

In the past 24 hours, the cryptocurrency market managed to recover about 80$ billion in market capitalization reaching $1.81 trillion. The next target is the astronomical $2 trillion capitalization level.

Most cryptocurrencies are in the green today while Bitcoin’s dominance continues declining, dropping 2 percentage points in the past week. 

On the daily chart, the uptrend has been kept intact and Bitcoin held the key support level at $53,700, the 26-EMA. This moving average has served as an accurate guide for the bulls throughout this recent bull rally. 

BTC/USD daily chart

The only resistance point is the previous all-time high of $61,844. A breakout above this point should swiftly drive Bitcoin price towards $70,000 and up to $76,200 at the 127.2% Fibonacci level. 

On the other hand, losing the key 26-EMA support level at $53,650 would push Bitcoin price down to at least $50,450 at the 78.6% Fibonacci Retracement level and as low as $41,554. 

In the past week, Ethereum has been trading sideways but remains contained inside an ascending broadening wedge pattern on the 12-hour chart. There is a critical support level at $1,700 which coincides with the 50-SMA and the 100-SMA levels.

ETH/USD 12-hour chart

Holding this key support point should push Ethereum higher. The short-term resistance is located at $1,944, a breakout above this level should push ETH towards the all-time high of $2,042. Further than that, the next price target would be the top trendline of the pattern at $2,423. 

On the other hand, a breakdown below the key support level at $1,700 would drive Ethereum price down to the lower boundary of the pattern at $1,520. 

XRP has been rejected from a key resistance level at $0.488 several times in the past month. On the 12-hour chart, the digital asset formed an ascending triangle pattern.

XRP/USD 12-hour chart

A breakdown below the lower trendline support at $0.444 will drive Ripple price down to $0.36. However, if bulls can finally crack the key resistance level of $0.488, the digital asset will quickly explode towards a high of $0.581.

PayPal has announced that its US-based users will pay online merchants around the world using cryptocurrencies. The move is geared toward boosting the adoption of digital assets into mainstream commerce.

United States-based users holding Bitcoin, Ethereum and Litecoin in the PayPal digital wallets will have the opportunity to convert these assets into fiat currencies at checkouts to pay for goods and services. The CEO of the company, Dan Schulman, told Reuters that:

The flagship cryptocurrency is doddering slightly above $59,000 after breaking out of a descending parallel channel. Its uptrend has been validated by the Moving Average Convergence Divergence (MACD) indicator on the four-hour chart. In addition to the indicator moving higher within the positive region, the MACD line (blue) holds above the signal line.

Price action beyond $60,000 would open the gate for gains beyond the record high close to $62,000. If buy orders are triggered due to the fear of missing out (FOMO), Bitcoin could start the next journey toward $60,000.

BTC/USD four-hour chart

Ethereum managed to overcome the stubborn resistance at $1,800. However, the bullish leg faces opposition heading to $1,900 and $2,000, respectively.

The pioneer smart contract token has a market value of $1,840 at the time of writing. Support at $1,800 is key to sustaining the uptrend to higher price levels. Besides, the MACD indicator reveals that ETH is comfortably in the hands of the bulls.

ETH/USD four-hour chart

It is worth mentioning that a significant correction may come into the picture if Ether slides under $1,800. Support at $1,700 may be revisited while Ethereum’s return into the descending parallel channel would culminate in more losses eyeing the primary anchor at $1,540.

Ripple has for several days battled the resistance at $0.6 in vain. Attempts to break above this zone remain a daunting task. Meanwhile, XRP is teetering at $0.57 amid a bullish building momentum.

An ascending triangle has validated the cross-border token’s bullish outlook. The pattern hints at a 22% spike to $0.71 if Ripple breaks above the x-axis. This pattern indicates a period of consolidation ahead of a significant breakout.

XRP/USD four-hour chart

On the other hand, it is essential to note the downward direction of the Relative Strength Index. The bearish building momentum may invalidate the breakout and pave the way for losses toward the 50 Simple Moving Average (SMA) support. If the immediate support fails to hold, Ripple’s bulls’ will be forced to seek support at $0.5 and $0.4, respectively.

Ready to invest in cryptocurrencies, read the article below and the following are four main steps to help when you are ready:

PayPal has announced that its US-based users will pay online merchants around the world using cryptocurrencies. The move is geared toward boosting the adoption of digital assets into mainstream commerce.

United States-based users holding Bitcoin, Ethereum and Litecoin in the PayPal digital wallets will have the opportunity to convert these assets into fiat currencies at checkouts to pay for goods and services. The CEO of the company, Dan Schulman, told Reuters that:

This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet.

We think it is a transitional point where cryptocurrencies move from being predominantly an asset class that you buy, hold and or sell to now becoming a legitimate funding source to make transactions in the real world at millions of merchants.

The flagship cryptocurrency is doddering slightly above $59,000 after breaking out of a descending parallel channel. Its uptrend has been validated by the Moving Average Convergence Divergence (MACD) indicator on the four-hour chart. In addition to the indicator moving higher within the positive region, the MACD line (blue) holds above the signal line.

Price action beyond $60,000 would open the gate for gains beyond the record high close to $62,000. If buy orders are triggered due to the fear of missing out (FOMO), Bitcoin could start the next journey toward $60,000.

BTC/USD four-hour chart

Ethereum managed to overcome the stubborn resistance at $1,800, as discussed. However, the bullish leg faces opposition heading to $1,900 and $2,000, respectively.

The pioneer smart contract token has a market value of $1,840 at the time of writing. Support at $1,800 is key to sustaining the uptrend to higher price levels. Besides, the MACD indicator reveals that ETH is comfortably in the hands of the bulls.

ETH/USD four-hour chart

It is worth mentioning that a significant correction may come into the picture if Ether slides under $1,800. Support at $1,700 may be revisited while Ethereum’s return into the descending parallel channel would culminate in more losses eyeing the primary anchor at $1,540.

Ripple has for several days battled the resistance at $0.6 in vain. Attempts to break above this zone remain a daunting task. Meanwhile, XRP is teetering at $0.57 amid a bullish building momentum.

An ascending triangle has validated the cross-border token’s bullish outlook. The pattern hints at a 22% spike to $0.71 if Ripple breaks above the x-axis. This pattern indicates a period of consolidation ahead of a significant breakout.

XRP/USD four-hour chart

On the other hand, it is essential to note the downward direction of the Relative Strength Index. The bearish building momentum may invalidate the breakout and pave the way for losses toward the 50 Simple Moving Average (SMA) support. If the immediate support fails to hold, Ripple’s bulls’ will be forced to seek support at $0.5 and $0.4, respectively.

Bitcoin is exchanging hands slightly above $58,000 in the wake of a key technical breakout. Price action has been consistently bullish since Visa Inc. announced that it would start accepting cryptocurrency transactions on its platform.

According to Visa, demand for cryptocurrency transactions has been growing and it was time to make a move. Initially, USDC will be used, allowing users to spend digital assets without converting to fiat.

Bitcoin pushed the uptrend further following the announcement made on Monday. Besides stepping above the 50 Simple Moving Average (SMA) resistance on the 4-hour chart, BTC lifted past the descending parallel channel’s upper trendline. Additionally, the ongoing liftoff was validated by a break above the 100 SMA.

Meanwhile, the Moving Average Convergence Divergence (MACD) indicator on the 4-hour chart suggests the bellwether cryptocurrency is in the bulls’ hands. The bullish outlook has been reinforced by the MACD line (blue) crossing above the signal line. The indicator has also returned into the positive region, adding credence to the narrative.

It is essential to realize that establishing support above $58,000 will ensure market stability. Similarly, buyers will be encouraged to increase positions on the digital asset, speculating $60,000. Moreover, a break above $60,000 would trigger massive buy orders as BTC rolls to $62,000 and other higher price levels.

It is worth mentioning that the bullish outlook will be invalidated if Bitcoin closes the day under $58,000. This will increase overhead pressure on the 100 SMA support, while massive losses will be triggered if the price slices through this anchor zone. BTC could revisit the support between $50,000 and $52,250.

Spot rate: $58,050

Trend: Bullish

Volatility: Growing

Support: 100 SMA and 50 SMA on the 4-hour chart

Resistance: $60,000 and $62,000

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The cryptocurrency market reacted positively after Visa announced support for cryptocurrency transactions on its platform. The USD Coin has been singled out to enjoy this groundbreaking milestone, showing digital currencies are gaining mainstream adoption.

Ethereum, the leading smart contract token, has found itself in the spotlight, because the USD Coin executes on its blockchain. This support will ensure that users spend money in crypto without the need to convert to fiat.

Visa confirmed that it had completed the testing process following a partnership with digital asset bank Anchorage and completing its first transaction, whereby Crypto.com sent USDC to the company’s Ethereum address.

Cuy Sheffield, head of crypto at Visa, told Reuters:

“We see increasing demand from consumers across the world to be able to access, hold and use digital currencies, and we are seeing demand from our clients to be able to build products that provide that access for consumers.”

Ethereum has been on an upward roll since support was embraced at $1,540. Price action past the 50 Simple Moving Average (SMA), the 200 SMA and the 100 SMA on the four-hour chart has reinforced the ongoing upswing.

At the time of writing, Ether is trading at $1,785 as bulls eye liftoff above $2,000. The Relative Strength Index (RSI) on the four-hour chart cements the bulls’ presence in the market while entering the overbought region. Note that a break above $1,800 would see buy orders triggered, adding pressure to the tailwind.

ETH/USD four-hour chart

The bullish outlook will be invalidated if Ether fails to break above $1,800, as discussed earlier. Support is expected at $1,700, but if losses extend further, Ethereum will freefall toward $1,540.

Bitcoin rallied above a descending parallel channel after bouncing off support at $50,000. The former resistance at the 100 SMA delayed movement, but bulls managed to overcome the hurdle, leaving open-air exploration toward $60,000.

At the time of writing, the bellwether cryptocurrency exchanges hands slightly above $58,000 as the uptrend builds. The next resistance is envisioned at $59,000, which, if broken, may push BTC to $60,000. Price action past $60,000 will trigger buy orders as the fear of missing out (FOMO) grips investors.

BTC/USD four chart

It is essential to realize that the upswing to $58,000 would be invalidated if Bitcoin fails to secure support above $58,000. Moreover, the 100 SMA functions as another support. Sustaining the price above this level will avert a correction back to $50,000.

The cross-border token continues to nurture the uptrend, as reported. Support at the 61.8% Fibonacci, and by association $0.55, reveals market stability. Price action beyond $0.6 would be a considerable milestone, recognizing the massive resistance at this level.

At the time of writing, the least resistance path is upward based on the RSI on the four-hour chart. The trend strength indicator eyes the overbought region as buyers target levels above $0.6. Ripple is expected to break out to higher levels on breaking the stubborn hurdle at $0.6.

XRP/USD four-hour chart

The international remittance token must secure the position above $0.55 to avert another correction back to $0.4. The 50 SMA on the four-hour chart and the 61.8% Fibonacci level are in line to provide anchorage, but losses will come into the picture if the price slips below the confluence.