3 Major Crypto Assets Price Predictions: BTC Hesitates Before The Federal Reserve (FED) Decision, ETH and XRP Flash Rebound Opportunities

Bitcoin (BTC) has been fluctuating between $116,000 and $120,000 over the past two weeks, indicating indecision among traders. Ethereum (ETH) and Ripple (XRP) prices remain above key support levels, showing signs of rebound. Market participants are awaiting the interest rate decision from The Federal Reserve (Fed) on Wednesday, which is expected to drive the volatility of these three major crypto assets.

BTC Price Analysis

After reaching a historical high of $123,218 on July 14, the price of Bitcoin has been consolidating in the range of $116,000 to $120,000 over the past two weeks. As of Wednesday when this article was written, the trading price of BTC is approximately $118,000.

If BTC breaks below 116,000 USD daily, it may continue the downtrend and retest the 50-day exponential moving average (EMA) at 112,735 USD.

On the daily chart, the Relative Strength Index (RSI) reading is 58, above the neutral level of 50, but pointing downward, indicating that bullish momentum is weakening. Additionally, the Moving Average Convergence Divergence (MACD) indicator showed a bearish crossover last week, issuing a sell signal. The rising red histogram below the neutral value also indicates bearish momentum and a downward trend.

However, if the daily closing price of BTC exceeds $120,000, it may continue to rise and reach a historical high of $123,218.

(Source: Trading View)

ETH Price Analysis

On July 24, the price of Ethereum retested and found support near the daily support level of $3,500, subsequently rebounding nearly 8%, and closing above the daily resistance level of $3,730 on Sunday. At the beginning of this week, the price of Ethereum reached a year-to-date high of $3,940 on Monday, but fell slightly the next day and retested the daily support level of $3,730. As of Wednesday (July 30) when this article was written, Ethereum was trading slightly above the daily support level of $3,730.

If the daily support level of $3,730 is maintained, ETH may continue its upward momentum, targeting the key psychological level of $4,000.

The RSI on the daily chart is at 75, above the overbought level of 70, indicating that the bulls still have room to rise. However, the MACD indicator on the daily chart shows a bearish crossover beginning, indicating early signs of bearish momentum and a potential downward trend.

On the other hand, if ETH faces a Rebound and closes below the daily support level of $3,730, the decline may extend to the next support level of $3,500.

(Source: Trading View)

XRP Price Analysis

The price of XRP broke below the daily support level of $3.40 on July 23, falling 11% the next day. However, the price retested last Friday and found support near the 61.8% Fibonacci level ($2.99), rebounding 3.43% over the weekend. At the beginning of this week on Monday, XRP corrected by 3.5%, hovering around $3.12 the next day. As of Wednesday when this article was written, the price continued to stabilize around $3.13.

If the support level of $2.99 remains strong, XRP may continue to rebound to the previously broken support level of $3.40.

The RSI indicator on the daily chart shows 58, above the neutral level of 50, but pointing downwards, indicating that bullish momentum is weakening. Additionally, traders should remain cautious as the MACD indicator showed a bearish crossover last week, issuing a sell signal. The rising red histogram below the neutral value also indicates bearish momentum and a downward trend.

However, if XRP closes below $2.99, the downward trend may continue to the next daily support level of $2.72.

(Source: Trading View)