Bitcoin, Ethereum, and Ripple all experienced significant price declines on Monday, closing below key support levels and signaling potential for further corrections. Bitcoin broke below its 50-day EMA at $98,611, Ethereum fell below $2,500, and Ripple closed below its ascending trendline, shifting its market structure from bullish to bearish. Technical indicators point towards continued downward momentum.
Bitcoin price closes below its 50-day EMA at $98,611, poised for a further correction. Ethereum price fell below $2,500 on Monday, hinting at a downleg ahead. Ripple price closes below its ascending trendline, changing the market structure from bullish to bearish. Bitcoin , Ethereum and Ripple closed below their key support level and, at the time of writing on Monday, crashed by 4.3%, 13% and 12.6%, respectively.
At the time of writing on Monday, it continues to trade down by 12.60%, around $2.25. Suppose XRP continues its pullback and closes below its daily support at $1.96. It could extend the decline to test its weekly support level at $1.40. The RSI on the daily chart reads 30, around its oversold levels of 30, indicating a strong bearish momentum. The MACD also continues to show a bearish crossover, suggesting the continuation of a bearish trend.
BITCOIN ETHEREUM RIPPLE CRYPTOCURRENCY PRICES MARKET CORRECTION TECHNICAL ANALYSIS SUPPORT LEVELS BEARISH TREND
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