A critical week has begun for Bitcoin and altcoins. This week could see a series of significant developments in both the financial and cryptocurrency worlds. The week starts tomorrow, September 15th, with the Clarity Act vote, and continues on Wednesday with the Fed’s interest rate decision.
While price fluctuations are possible at this point, an analyst has provided updated analyses for Ethereum, XRP, and Sui.
$3,000 Scenario for Ethereum!
Popular cryptocurrency analyst Ali Martinez, in his latest analysis, drew attention to the ascending triangle formation on Ethereum’s 12-hour chart. According to the analyst, if ETH breaks above the upper resistance zone of the formation, it could pave the way for an upward move.
In his analysis, Martinez noted that Ethereum had previously risen by approximately 31 percent in three days after breaking upward from a similar formation. He also suggested that if a similar price movement were to repeat itself, ETH could move towards the $3,000 level.
Positive Signal for SUI!
Another altcoin that Martinez drew attention to was SUI. The analyst noted that the TD Sequential indicator on SUI’s 12-hour chart was giving a new signal, which could indicate a possible trend reversal.
The analyst notes that the signal emerged after the SUI retreated to the $0.70-$0.72 support zone, but also reminds us that it does not, by itself, confirm a new uptrend.
Expected Breakout in XRP!
Finally, Martinez pointed out an important technical formation for XRP. In a post yesterday, Martinez stated that if XRP remains above the $1.31–$1.35 support zone, the price could move towards the apex of the triangle formation on the chart.
The analyst also notes that the crucial level for XRP is $1.38. Furthermore, a strong breakout above this resistance could strengthen the bullish scenario and pave the way for the price to move towards the $1.60 level. However, no specific target price is mentioned in the post; Martinez only states that he expects XRP to move towards the peak of the formation if the support zone is maintained.
*This is not investment advice.
