Bitcoin (BTC) and Ethereum (ETH) have retested their key support levels, with a break below these levels potentially signaling a bearish trend ahead.
Bitcoin price retests the 50% retracement level at $62,736, a close below it would indicate a bearish move. Ethereum 's price retests the daily support level of around $3,076, a break below would change the market structure from bullish to bearish. Ripple price continues to retrace but may find support at the $0.544 level before potentially resuming an upward rally.
If Ethereum's price continues to decline and closes below the daily support at $3,076 and the trendline, it could drop 9% to revisit the daily low of $2,808 from July 5. The Relative Strength Index and the Awesome Oscillator on the daily chart have fallen below their neutral levels of 50 and zero, respectively, signaling strong bearish dominance.
Ethereum Ripple Cryptocurrencies Technical Analysis
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