Bitcoin (BTC) is hovering at a critical support level, and a drop below it could signal a downturn, while Ethereum (ETH) and Ripple (XRP) are approaching important resistance levels, where a rejection might indicate a shift towards bearish momentum.
Bitcoin hovers around the $62,000 support level; a firm close below would suggest a decline ahead. Ethereum faces rejection from its daily resistance level of $2,461, indicating a bearish momentum. Ripple price is nearing its crucial resistance barrier at $0.554; rejection from this level suggests a decline ahead.
Ripple price set for a downward trend Ripple price is approaching its previously broken ascending trendline on Wednesday. This trendline roughly coincides with the two crucial resistance levels: the 200-day EMA at $0.554 and the daily level at $0.544. It is currently trading below it at around $0.532. If the 200-day EMA at $0.554 acts as resistance, XRP could decline 19% from its current trading level to retest the August 5 low of $0.431.
Ethereum Ripple Cryptocurrencies Technical Analysis
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