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  • Bitcoin price hit a new all-time high at $63,287 ahead of Coinbase IPO.
  • Ethereum price also formed a new all-time high of $2,229 and remains extremely bullish.
  • XRP price is up by 170% in the past two weeks as it seems Ripple will win the SEC lawsuit.

The cryptocurrency market has finally hit a $2 trillion market capitalization for the first time ever as most of the top coins established new all-time highs. Coinbase IPO (Initial Public Offering) will be live on Wednesday 14 April and seems to have helped the industry.

Bitcoin price aims for $74,000 in the long term

On the 12-hour chart, Bitcoin broke out of a symmetrical triangle pattern that can be drawn connecting the lower highs and higher lows with two trendlines that converge. Measuring the distance between the beginning of the top trendline and the lower one, we get 26%.  

btc price

BTC/USD 12-hour chart

This 26% move is a price target of $74,000 in the long-term, although Bitcoin will most likely pause at $65,000 and $70,000 as they are psychological levels. The flagship cryptocurrency faces no real resistance ahead as these are new all-time highs.  

One of the largest events in the cryptocurrency industry, Coinbase IPO will be live on Wednesday, April 14. If it does well, the entire crypto market should also profit from it, some analysts have even called it the most important IPO of the year.  

Ethereum price breaks out of crucial pattern  

On the 4-hour chart, Ethereum has broken out of a cup and handle pattern in the past 12 hours. We discussed this possibility in our last ETH analysis here. The initial price target of this breakout is $2,400.  

eth price

ETH/USD 4-hour chart

Ethereum is facing no resistance ahead which means a jump to $2,400 is imminent. More than $61.5 billion worth of ETH is currently locked away, representing about 1/5 of its entire market capitalization.    

eth price

ETH/USD 12-hour chart

On the 12-hour chart, Ethereum has broken out of an ascending wedge pattern which has a price target of $2,850, calculated by measuring the distance between the beginning of the top trendline and the lower one.  

XRP price continues to explode to new highs in unstoppable rally

XRP price is up by 170% in the past week and seems to face no resistance ahead. The digital asset has already surpassed the 161.8% Fibonacci level and aims to hit the next level at $1.86, which is the 178.6% Fib point.  

xrp price

XRP/USD 12-hour chart

Surprisingly the trading volume remains high and it’s increasing again in the past 24 hours which indicates the current leg up has a lot of strength.  

xrp price

XRP volume chart

A breakout above $1.86 would drive XRP price towards $2.06 at the 200% Fibonacci level, but it’s worth noting that Ripple might continue climbing higher as it is the only digital asset in the top 5 that hasn’t hit a new all-time high. The previous one was established in January 2018 at $3.67.

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