Bitcoin (BTC) and Ethereum (ETH) prices are expected to drop after struggling to break through critical resistance levels, and momentum indicators show bearish biases.
Bitcoin price fails to rise for a second consecutive day and remains within its broad consolidation zone between $57,000 and $62,000. Ethereum price is at risk of a further decline if it fails to find support at around $2,500. Ripple price finds stability around the daily support level of $0.544, with potential recovery on the cards. Bitcoin and Ethereum prices are expected to drop after struggling to break through critical resistance levels, and momentum indicators show bearish biases.
544, which coincides with the 100-day EMA at $0.545 on Friday and rose 6.5% the following three days. As of Wednesday, it trades slightly higher by 0.5% at $0.597. If the daily support at $0.544 holds, XRP could rally 7% from its current trading level at $0.597 to challenge the next resistance level at $0.643. The daily chart's RSI and AO have flipped above their neutral levels of 50 and zero, respectively. These momentum indicators indicate bullish dominance.
Ethereum Ripple Cryptocurrencies Technical Analysis
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