Price forecasts 4/23: BTC, ETH, XRP
Price forecasts 4/23: BTC, ETH, XRP
Key points: Bitcoin’s surge is supported by strong institutional investment in spot BTC ETFs.
Analysts now expect prices to reach $200,000. A rebound beyond $95,000 might be challenging.
Some altcoins are bottoming.
Bitcoin BTC price surged around $95,000 barrier mark on April 23 due to increased spot BTC ETF flows and strong US macroeconomic headlines. On April 21, the funds reported a net inflow of $381.3 million, and on April 22, they reported a net inflow of $912.7 million. This information comes from Farside Investors.
Standard Chartered Bank and Intellectia AI analysts predicted that corporate demand for Bitcoin ETFs and BTC’s usage as a macroeconomic hedge will push the price above $200,000 in 2025.
Some doubt the rally. An April 23 markets analysis by 10x Research head of research Markus Thielen questioned the Bitcoin rally’s durability since the stablecoin minting indicator had “yet to return to high-activity levels.”
Could Bitcoin breach $95,000, boosting altcoins? Check the top 10 cryptocurrency charts to find out.
Predict Bitcoin price
Bitcoin developed a Doji candlestick pattern on April 23, showing bullish and bearish hesitation around $95,000 overhead barrier.
The 20-day exponential moving average ($85,773) is rising, and the relative strength index (RSI) is approaching the overbought zone, indicating an upward trend. Buyers’ resistance against bears boosts the chances of a rise over $95,000. The BTC/USDT pair might reach $100,000 and then $107,000.
This favorable outlook will be dashed if the price falls rapidly from $95,000 and below the average of the moving averages.
Predicting Ethereum price
ETH climbed significantly to $1,791 on April 22, above the 20-day EMA ($1,676). Buyers will push the price over the 50-day SMA ($1,830) on April 23 to maintain the lead.
If successful, ETH/USDT might reach $2,111, the breakdown level. Sellers will attempt to stop the rebound around $2,111, but bulls might push it to $2,550. Thus, the remedial phase may be over.
If the stock drops quickly from $2,111, bears are aggressive at higher levels. That might maintain the duo between $2,111 and $1,368 for a while.
Predict XRP pricing
Although XRP went over the 50-day SMA ($2.20), the lengthy wick on the candlestick indicates greater selling levels.
Because a break and closure above the resistance line might suggest a trend shift, bears are anticipated to fight hard. XRP/USDT might then soar to $3.
Conversely, if the price falls below the moving averages, bears stay in control. The pair may retest $2, which may entice buyers.
