3 Major Crypto Assets Price Predictions: BTC, ETH, and XRP Show Signs of Stage Recovery, May Continue Rebound in the Short Term

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) have temporarily shaken off the weekend's sluggish market, and today (4th) during the Asian session, they have slightly rebounded, currently stabilizing at around $114,000, $3,500, and $3, respectively. These three largest market capitalization Crypto Assets retraced nearly 5%, 10%, and 9% last week, with overall market sentiment still mixed. Technical indicators suggest that if the current support level holds, a rebound may occur in the short term.

Bitcoin is finding support near its 50-day EMA

(Source: Trading View)

Bitcoin's price fell below the low consolidation level of $116,000 last Thursday, and declined nearly 3% in the following two days, retesting the 50-day exponential moving average (EMA), which is around $112,974. This 50-day EMA roughly coincides with the previous historical high of $111,980, making it a key support area.

Bitcoin rebounded by 1.48% after testing the support area again on Sunday. As of Monday when this article was written, Bitcoin continued to rebound, trading above $114,500.

If the support area continues to hold, Bitcoin may extend its rebound momentum until it breaks through the previously breached lower consolidation level of $116,000.

On the daily chart, the Relative Strength Index (RSI) is at 47 and pointing towards the neutral level of 50, indicating that bullish momentum is weakening. For a rebound to occur, the RSI must break above the neutral level.

However, if Bitcoin faces a pullback, its decline may extend to its key support level of $112,975 (i.e., 50-day EMA).

Ethereum rebounds after a significant decline

(Source: Trading View)

Ethereum's price closed below the daily support level of $3,730 on Thursday and fell by 8.23% over the next two days, ultimately closing below the next support level of $3,500. On Sunday, Ethereum experienced a slight rebound after receiving support near the 78.6% Fibonacci retracement level of $3,392. As of Monday when this article was written, Ethereum's price has continued to rise, currently trading above $3,500.

If ETH continues to rebound, it may extend its upward momentum until it reaches its previously breached support level of $3,730.

The RSI reading on the daily chart is 56, indicating an upward movement after rebounding from the neutral level of 50 on Saturday, suggesting that bullish momentum is strengthening.

On the other hand, if ETH faces a pullback, its downtrend may extend to the next key support level of $3,170, which is the 50-day EMA.

XRP rebounds after resting in the key support area

(Source: Trading View)

XRP price closed below the 61.8% Fibonacci retracement level of 2.99 USD on Friday, falling 6.48% the next day, testing the daily level of 2.72 USD. The daily level of 2.72 USD roughly coincides with the 50% Fibonacci retracement level of 2.78 USD and the 50-day moving average of 2.79 USD, making it a key support level. The price of XRP rebounded from this key support level on Sunday, rising by 6.45%. As of Monday when this article was written, its price continued to rise to around 2.95 USD.

If XRP continues to rebound and closes above the resistance level of $2.99, it may extend its rise until the next daily resistance level of $3.40.

The RSI indicator on the daily chart is breaking below the neutral level of 50, indicating that bearish momentum is weakening. To maintain the recovery momentum, the RSI must stay at the level of 50.

On the contrary, if XRP faces a correction, it may continue to decline to the daily support level of 2.72 USD.