Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC consolidates while Ethereum and Ripple prepare for breakout

• Bitcoin price has consolidated between $116,000 and $120,000 after reaching a new all-time high of $123,218 last week.
• Ethereum price closes above the daily resistance at $3,730, with bulls targeting the $4,000 mark.
• Ripple’s XRP finds support at a key level at $3.40, hinting at a sign of rally continuation.

Bitcoin (BTC) is taking a breather after reaching a record high of $123,218 last week, consolidating within a tight range as traders await the next move. Meanwhile, Ethereum (ETH) and Ripple (XRP) are showing signs of strength, finding support around their key levels and signaling a potential continuation of the upside.

Bitcoin trades sideways after reaching a new all-time high

Bitcoin price reached a new all-time high of $123,218 on Monday and has been trading sideways between the $116,000 and $120,000 levels. At the time of writing on Monday, it trades slightly above at around $117,800.

If BTC breaks below the lower consolidation boundary at $116,000 on a daily basis, it could extend the decline to retest its 50-day Exponential Moving Average (EMA) at $110,297.

The Relative Strength Index (RSI) on the daily chart reads 64 after falling from its overbought level of 70 last week, indicating fading bullish momentum. The Moving Average Convergence Divergence (MACD) indicator is about to flip a bearish crossover on the daily chart. If it shows a bearish crossover on a daily basis, it gives a selling signal and indicates a bearish momentum.

BTC/USDT daily chart

However, if BTC closes above the upper boundary of consolidation at $120,000 on a daily basis, it could extend the recovery toward the fresh all-time high at $123,218 and beyond.

Ethereum bulls aiming for $4,000 mark

Ethereum price rose 26.40% last week and closed above the daily resistance at $3,730 on Sunday. At the time of writing on Monday, it hovers at around $3,739.

If ETH continues its upward trend and the daily level at $3,730 holds as support, it could extend the rally toward its next key psychological level at $4,000.

The RSI on the daily chart reads 86, which is above its overbought level of 70, indicating strong bullish momentum. Meanwhile, the MACD indicator displayed a bullish crossover in early July that still holds. The rising green histogram bars above its neutral zero line suggest that bullish momentum is gaining traction.

ETH/USDT daily chart

However, if ETH faces a pullback, it could extend the decline to find support around its key level at $3,000.

XRP finds support around its key level at $3.40

XRP price rallied by more than 20% last week, reaching a new all-time high of $3.66 on Friday. At the time of writing on Monday, it trades slightly higher at $3.47, having found support around the daily level of $ 3.40 during the weekend.

If XRP continues its upward trend, it could extend the rally toward the record level at $3.66. A successful close above this level will extend the rally toward its 141.40% Fibonacci extension level at $4.13, drawn from the January high of $3.40 to the April low of $1.61.

However, the RSI indicator on the daily chart reads 84, indicating an extreme overbought condition, which traders should be cautious of. Meanwhile, like Ethereum, the MACD indicator suggests further gains for XRP ahead.

XRP/USDT daily chart

On the other hand, if XRP faces a correction, it could extend the decline to find support around its daily level at $3.40.