The market is on fire due to major price movements and rallies. The prices of coins have undergone significant fluctuations. However, those movements are not just positive. Sometimes, those movements can be crazy. Hence, having a plan of action is important.
To create a plan of action, you need to have all the key data readily available. Here is a detailed look at some of the prominent tokens that investors should keep an eye on. One small disclaimer: This is not a ranking list. It offers a more informative perspective.
BTC Price Outlook
Recently, BTC has been hovering around the $95,000 mark. This is still significantly better than the earlier price movement that pushed the price down to the $ 70,000 mark. As a result, industry experts believe that the current level is more psychological. If the token falls beneath the $95K mark, things could become chaotic.
The 20-day Simple Moving Average (SMA) of the token indicates a slight upward trend on the price chart. The RSI of the token is showing signs of overbought conditions; nonetheless, the bulls are still in control.
If the price stabilizes at $95,000, the token may soon reach the $100,000 mark and eventually regain its all-time high (ATH) at $107,000. However, if the price falls below the $95,000 mark, another bearish rally may occur. This can push the price lower.
ETH Price Outlook
ETH did suffer some setbacks at the start of the term. The token encountered significant resistance at the 50-day Simple Moving Average (SMA), located around $1,812. The good news is that the token is currently showing some positive traction. The 20-day SMA is showing that there can be a bullish movement.
At the time of this press release, the 20-day Simple Moving Average (SMA) of the token is recorded at $1,696. However, analysts believe that the token could initiate a bullish run if it breaks the $1,812 mark. Some are suggesting that the bullish run is inevitable and the price could oscillate between $2,111 and $2,550.
On the other hand, if the token falls below the 20-day SMA, it could take a turn for the worse.
XRP Price Outlook
XRP’s 50-day Simple Moving Average (SMA) is currently located at the $2.18 mark. The token is being traded at the same mark. The situation with XRP is presently in a dicey state. Bears and bulls are currently engaged in a fierce battle, creating an interesting state of affairs.
Bulls are fighting tooth and nail to keep the 20-day EMA just above the $2.13 mark. If XRP manages to break through this line, the price could move towards the $3 mark, potentially fueling further bullish momentum.
Meanwhile, a break below the $2 can be catastrophic. It could easily fall through the cracks and rest at $1.60. This could initiate a bearish run. Therefore, it is best to wait and see.
