Ripple prices are down while Tezos and Tron bulls are upbeat. Traders appear to be aligning for breakouts to new 2021 highs.
The Ripple price slowed down on Mar 30, ending the day as an inverted hammer in the daily chart.
Trading at around $0.54, as of writing on Mar 31, the coin is perched at seventh in the market cap leader-board, sliding lower against the USD and BTC in the last week of trading.
Technical candlestick arrangement, nonetheless, points to strength.
However, there are hints of weakness following the Mar 30 inverted hammer reflecting the state of XRP/USD price action in the past week of trading.
With long upper wicks, there is resistance for higher highs. XRP bears appear to be unloading on pullbacks towards $0.60, clicking XRP buyers’ attempts.
XRP/USD Price Prediction
The XRP/USD price remains largely in consolidation.
Nonetheless, traders are bullish, expecting more upticks in trading volumes and prices in the coming few days in line with traders’ Ripple price forecast for 2021.
In the short-term, the $0.65 level is a vital sell wall that buyers must overcome for the XRP price to race higher towards $0.78—Nov 2021 highs and $0.85—Sept 2018 peaks–in the medium term.
Notably, Ripple bulls, despite market-wide confidence, are yet to shake off bears of Feb 23. As a result, bears are technically in control from an Effort-versus-Results perspective.
Therefore, for this pattern to be invalidated, buyers must breach $0.65 with higher trading volumes, preferably exceeding those of Feb 22.
Tezos is one of the top performers week-to-date.
Trading at $4.39 on Mar 31, the XTZ coin is closing Q1 2021 firmly, adding seven percent in the past week of trading. Overly it is stable versus the BTC and ETH in the same period.
Technical candlestick arrangement points to a breakout above the larger bull trend.
Subsequently, this suggests the possibility of XTZ bulls pilling on the coin in a buy trend continuation pattern reflective of the Feb 2021 trend.
XTZ/USD Price Analysis
As visible in the daily chart, the break above the bull flag syncs with Tezos traders’ outlook, judging from various Tezos price predictions for 2021.
Therein, the consensus is that the XTZ price may print double-digits by the end of the year.
Therefore, the breakout above $4 to spot rates suggests demand in lower time frames. The XTZ bars are begging to band along the upper BB when the bands are also diverging, pointing to a volatility buildup.
From candlestick arrangement in the daily chart, aggressive XTZ traders can sync with the trend, buying the dips with first targets at $6—or Feb 2021 highs.
Leaning on caution, losses below $4 and the three-month support trend line will signal a trend shift.
The Tron price is volatile, but bulls have been successful in maintaining an uptrend.
From the daily chart, the TRX price is stable on the last day of trading, adding a ballpark 28 percent versus the greenback, BTC, and ETH week-to-date.
Despite gains, TRX is down the market cap leader-board, pinned below Feb 2021 highs. Nonetheless, there are hints of strength since TRX/USD prices are oscillating with new 2021 highs.
Notably, Tron buyers are yet to confirm the three-bar bullish reversal of Mar 24-26. Accordingly, there are opportunities for TRX/USD buyers to load on dips in anticipation of a breakout to new 2021 highs.
TRX/USD: What to Expect
TRX/USD price action is characterized by high volatility and oscillating within tight ranges in lower time frames.
Buyers are in control because of the high-volume bull bar confirming the three-day bullish reversal pattern of Mar 24-26.
Therefore, the lack of follow-through may present an opportunity for aggressive traders to target at $0.10—the 1.618 Fibonacci extension level of the Q1 2021 trade range.
The rapidity of bulls’ advances, fulfilling traders’ projections from TRX price forecasts for 2021, anchor on breakout volumes and accompanying volatility.
Chart courtesy of Trading View
Disclaimer: Opinions expressed are not investment advice. Do your research.
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