Bitcoin (BTC) breached the weekly support level of $58,375 on Thursday; as of Friday, it is trading 2.8% lower at $55,314.
Bitcoin price breaks below the weekly support level at $58,375, signaling a bearish move. Ethereum price fell below $3,240, its daily low on June 24, indicating a shift in the market structure from bullish to bearish. Ripple price trades below the weekly support level of $0.413, indicating a bearish trend ahead. Bitcoin breached the weekly support level of $58,375 on Thursday; as of Friday, it is trading 2.8% lower at $55,314.
It is trading around $2,914 as of Friday, reflecting a further decrease of 4.4% from the previous day's level. If ETH's price closes below its May 1 low of $2,817, it could decline 6.5% to revisit its daily support at $2,621. The Relative Strength Index and the Awesome Oscillator on the daily chart support this bearish thesis, as both indicators are below their respective neutral levels of 50 and zero.
Ethereum Ripple Cryptocurrencies Technical Analysis
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