Ethereum, Ripple and AAVE Forecast: Prices Poised to Climb – FX Empire


Ethereum steadies its course in today’s session, with the ETH/USD pair currently trading near $1,906.80 after a 24-hour movement that suggests consolidation. The pivot point stands at $1,868.80, with Ethereum facing immediate resistance at $1,912.90, then at higher echelons of $1,958.30 and $2,000.20. On the downside, immediate support lies at $1,833.60, with further cushions at $1,784.20 and $1,746.30.
The RSI indicator reads 68, verging towards overbought territory, yet reflecting a bullish sentiment as it remains above the 50 mark. Meanwhile, the MACD’s current bearing does not display the value but indicates a bullish trend, as it likely traverses above the signal line. The 50-day EMA at $1,834.13 is now beneath the current price, suggesting a short-term bullish trend.
Chart patterns indicate the formation of a double bottom, a traditional harbinger of bullish reversal if the price maintains above the crucial support level.
In conclusion, the overall trend appears bullish as long as ETH/USD sustains above $1,865. Short-term, we may anticipate the pair to challenge the immediate resistance at $1,912.90, with further gains likely if the bullish indicators hold firm.
XRP/USD surges by 9.65%, with a striking ascent to 0.72797 on the 4-hour charts, marking a robust upturn in today’s trading landscape. The pair has established a pivot point at 0.70433, heading towards immediate resistance at 0.76510, with potential strides to 0.84404 and perhaps a stretch to 0.94548. Supports are staggered beneath at 0.64581, with additional safety nets at 0.57691 and 0.51500.
Technical indicators reveal an RSI soaring at 88, signaling highly overbought conditions, yet denoting a strong current bullish sentiment. The MACD echoes this, showing a bullish trend, presumably as it stands above its signal line. The currency trades well above the 50 EMA of 0.6159, reinforcing the bullish narrative in the short term.
The appearance of two bullish engulfing candlestick patterns above the pivot underscores the prevailing buying momentum.
Given the context, the trend for XRP/USD holds bullish, firmly above the pivot of 0.70433. The short-term forecast anticipates a challenge to the 0.76510 resistance, with market conditions ripe for testing higher thresholds if the bullish indicators persist.

AAVE has exhibited a substantial gain of 9.43%, currently trading at $97.50 on the 4-hour chart, indicating a significant bullish momentum within the day’s ambit. The pivot point is stationed at $92.14, while AAVE eyes the immediate resistance at $102.82, with further hurdles at $115.61 and $123.56. Downside protections are found at $75.90, with subsequent supports lying at $62.21 and $52.06, outlining the critical zones for potential retracements.
The RSI is pitched at 73, suggesting an overbought market, typically a precursor for a potential pullback or consolidation, yet it still hints at a bullish market sentiment. The MACD’s current trajectory is bullish, having eclipsed its signal line, pointing towards a possible continuation of the upward drive. Furthermore, AAVE is trading above the 50 EMA of $88.36, solidifying the bullish outlook in the short-term spectrum.
Encapsulating the data, AAVE’s trend is convincingly bullish when above $92.25, hinting at the possibility of persisting buyer interest. The short-term forecast is inclined towards an encounter with the resistance at $102.82, presuming the current optimistic technical setup sustains.
For a look at all of today’s economic events, check out our economic calendar.


Leave a Reply

Your email address will not be published. Required fields are marked *