Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, and XRP stabilize near critical support levels

FXStreet
Updated
Mitrade
coverImg
Source: DepositPhotos

  • Bitcoin price stabilizes around $105,000 on Monday after closing below its key support level the previous week.

  • Ethereum hovers around its lower consolidation boundary of $2,461; a close below would indicate a correction ahead.

  • Ripple's XRP closes below its 50-day EMA support at $2.24, increasing the chances of a deeper correction.

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are showing signs of stabilization around key support levels after a recent correction last week. BTC attempts to regain strength after closing below its critical support level, while ETH and XRP hover near technical thresholds that could determine the direction of their next moves. 

Bitcoin could decline if it closes below its 50-day EMA 

Bitcoin price closed below its daily support level of $106,406 on Thursday and rebounded after retesting its 50-day Exponential Moving Average (EMA) at $102,893 the following day. BTC stabilized around the $105,000 level during the weekend. At the time of writing on Monday, it continues to consolidate, trading at around $105,788.

If BTC fails to close above the $106,406 resistance level and declines, it could extend the decline to retest its key, psychologically important level at $100,000.

The Relative Strength Index (RSI) on the daily chart is hovering around its neutral level of 50, indicating indecisiveness among traders. The Moving Average Convergence Divergence (MACD) indicator on the daily chart displayed a bearish crossover, signaling a sell and indicating a downward trend. 

BTC/USDT daily chart

BTC/USDT daily chart 

However, if BTC recovers, it could extend the recovery to retest its daily level of $106,406.

Ethereum could face a downleg if it closes below its 50-day EMA 

Ethereum price failed to find support around the upper consolidation level of $2,724 on Thursday and declined by 8.69% until Saturday. However, ETH hovered above its lower consolidation boundary of $2,461 the next day. At the time of writing on Monday, it continues to hover above this level.

If ETH faces a correction and closed below its 50-day EMA at $2,429, it could extend the decline to retest its next support level at $2,000.

The RSI on the daily chart is hovering around its neutral level of 50, indicating indecisiveness among traders. The MACD indicator on the daily chart displayed a bearish crossover, signaling a sell and indicating a downward trend. 

ETH/USDT daily chart

ETH/USDT daily chart

On the other hand, if ETH finds support around its lower consolidation boundary at $2,461, it could extend the recovery to retest its upper consolidation boundary at $2,724.

XRP is poised for a downleg below its 50-day EMA

XRP price closed below its 50-day EMA level at $2.24 on Thursday and declined nearly 6% until Saturday. However, it recovered slightly by 1.22% the next day. At the time of writing on Monday, it is nearing its 50-day EMA at $2.24.

If XRP faces a rejection from its 50-day EMA, it could extend the decline to retest its next daily support level at $1.96.

The RSI on the daily chart reads 45, below its neutral level and points downward, indicating strong bearish momentum. Moreover, the MACD indicator on the daily chart displayed a bearish crossover, signaling a sell and indicating a downward trend.

XRP/USDT daily chart

XRP/USDT daily chart

Conversely, if XRP recovers, it could extend to retest its 50-day EMA at $2.25.

* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

goTop
quote
Do you find this article useful?
Related Articles
placeholder
Bitcoin Price Bleeds As Galaxy Digital Unleashes $1.5 Billion Sell-OffBitcoin slipped from an intraday peak above $119,000 late Thursday to trade as low as $115,800 in European morning hours.
Author  NewsBTC
Jul 25, Fri
Bitcoin slipped from an intraday peak above $119,000 late Thursday to trade as low as $115,800 in European morning hours.
placeholder
Crypto market bulls bleed over $1B this week as record high US M2 supply, Trump’s rate cut pushThe total cryptocurrency market capitalization trades in the red by nearly 3% so far this week as bullish momentum fades.
Author  FXStreet
Jul 25, Fri
The total cryptocurrency market capitalization trades in the red by nearly 3% so far this week as bullish momentum fades.
placeholder
Ethereum Price Forecast: BitMine holdings cross 560K ETH as ETHA hit $10 billion inflows on 1st anniversaryEthereum (ETH) moved toward the $3,780 resistance on Thursday.
Author  FXStreet
Jul 25, Fri
Ethereum (ETH) moved toward the $3,780 resistance on Thursday.
placeholder
Bitcoin Flow Pulse Breaks From 2017, 2021 Patterns – What It Means For The RallyAs Bitcoin (BTC) continues to trade near its all-time high (ATH) of $123,218, concerns over rising exchange deposits are mounting.
Author  NewsBTC
Jul 24, Thu
As Bitcoin (BTC) continues to trade near its all-time high (ATH) of $123,218, concerns over rising exchange deposits are mounting.
placeholder
Bitcoin Must Defend This Key Support For $180,000 Year-End Target, Analyst SaysAs Bitcoin (BTC) consolidates near the $119,000 mark following a new all-time high (ATH) above $123,000 last week.
Author  NewsBTC
Jul 23, Wed
As Bitcoin (BTC) consolidates near the $119,000 mark following a new all-time high (ATH) above $123,000 last week.