Cryptocurrency Price Forecast: The Easter holiday caused a slight rally in the crypto market, with major assets Bitcoin and Ethereum recording gains of 1-3%. This week has seen high volatility across most of the major cryptocurrencies, creating narrow ranges that indicate a lack of clear buyer and seller advantages.
However, with the most anticipated crypto event, the Bitcoin halving, scheduled for next month in April, this consolidation is likely to transition into a continuation of the uptrend. This development and positive inflows into the Spot BTC ETF could accelerate demand for Bitcoin and broader market sentiment.
Also Read: Over $15 Billion in Bitcoin and Ethereum Options Expiry, Will It Become a Massive Rise or Crash for Cryptocurrencies?
1) Ethereum (ETH)
Ethereum serves as a decentralized platform where smart contracts and decentralized applications (DApps) can be built and operated without downtime, fraud, control, or interference from third parties.
Amid the current market consolidation, ETH price is moving within a narrow range between $3,675 and $3,470. While the sideways movement initially reflected investor uncertainty, the 4-hour chart revealed it to be part of an inverted head-and-shoulders pattern.
ETH price is currently trading at $3,610, with an intraday increase of 2.9%. Ethereum's market capitalization is currently valued at $433 billion, with trading volume of $10.18 billion over the past 24 hours.
Under the influence of the chart pattern, Ethereum price may break through the neckline resistance, providing buyers with a good springboard to chase the $4,300 target.
Also read: Ethereum price prediction as correction exit pattern emerges to take back $4000
2) XRP
Ripple's digital asset, XRP, is designed for fast and cheap cross-border payments and is characterized by its low transaction fees and quick settlement times.
Over the past two weeks, XRP price has been swinging in uncertainty evidenced by narrow range formation and candlestick rejection at both ends. However, the consolidation remains above his two-month trend line, indicating that buyers are maintaining a steady uptrend.
Currently, XRP has a market capitalization of $34.3 billion, ranking it as the sixth largest cryptocurrency by market capitalization. If the market witnesses a new bullish sentiment, the XRP price could break through the $0.667 overhead barrier and re-challenge the $0.744 high.
Conversely, a breakdown below the lower trendline of the pattern could trigger a significant correction for this altcoin.
Also read: XRP price depends on developers and developers, ODL trading remains neutral
3) Dogwifat (WIF)
Dogwifhat (WIF) is a meme coin that emerged from the Solana blockchain, riding the wave of popularity that meme coins enjoy in the cryptocurrency ecosystem. This particular token is inspired by the viral Internet Meme featuring a Shiba Inu wearing a hat.
Ignoring the broader market correction, WIF price showed a near-straight recovery from $2.11 to $4.8, registering 127.5% growth in less than two weeks. The meme coin currently has a market capitalization of $4.78 billion, making it into the top 30 of the largest cryptocurrencies list. Meme coin Dogwifhat (WIF) has recently seen its market capitalization skyrocket to $4.78 billion, pushing it into the top 30 cryptocurrencies by market cap.
WIF price appreciation recently broke through another key resistance level at $4.5, providing adequate support for buyers to regain the psychological level for a return to $5 and then $5.5. .
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As the long-awaited Bitcoin halving event approaches, the crypto market is likely to break its consolidation trend in the future. Additionally, the performance of the Spot BTC ETF so far has accelerated demand pressure on Bitcoin, while simultaneously creating bullish momentum across the market.
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