Bitcoin, Ethereum, and Ripple prices experienced a significant downturn on Monday, closing below crucial support levels and suggesting a possible continuation of the bearish trend. All three cryptocurrencies showed signs of weakness, with the RSI and MACD indicating further downward movement.
Bitcoin, Ethereum , and Ripple prices experienced significant declines on Monday, closing below key support levels and hinting at a potential continuation of the downtrend. Bitcoin (BTC) dropped below the $100,000 mark and its 50-day Exponential Moving Average (EMA) at $98,611, indicating bearish momentum. The Relative Strength Index ( RSI ) and Moving Average Convergence Divergence ( MACD ) also suggest further correction.
Ethereum (ETH) rejected its descending trendline and fell below the psychologically important $3,000 level, closing down 13%. The RSI dipped below oversold levels, further reinforcing the bearish outlook. Ripple (XRP) broke below its ascending trendline and closed below its 50-day EMA, signaling a potential shift from bullish to bearish market structure. The RSI for XRP also approached oversold levels, indicating strong bearish pressure. If these cryptocurrencies continue their decline, they could retest further support levels, with Bitcoin potentially reaching $90,000 and Ethereum dropping to $1,905. However, if they find support and recover, they could retest their previous resistance levels
BITCOIN ETHEREUM RIPPLE CRYPTOCURRENCY PRICE DROP SUPPORT LEVELS BEARISH TREND RSI MACD
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