Bitcoin, Ethereum, XRP Pull Back — Profit-Taking Sparks Decline

Bitcoin falls 2% on Tuesday after hitting a record $123,218 on Monday as traders take gains.

Ethereum price may correct at $3,000 after rejection.

XRP falls 3% after briefly retesting $3 barrier, suggesting selling pressure at higher levels.

After significant rises, Bitcoin (BTC) price fell below $108,000 on Tuesday as traders took profits. Ethereum (ETH) and Ripple (XRP) corrected approximately 2% and 3%, respectively, against their critical levels of $3,000 and $3, following BTC.

BTC's Exchange Netflow (the difference between BTC moving into and out of the exchange) is positive and at levels not seen since February 25 according to on-chain statistics.

Bitcoin will correct after hitting $123,218, a record high.

Bitcoin rose to a record $123,218 on Monday, but failed to break $120,000. Tuesday's trading below $108,000 was a 2% drop.

If BTC continues to correct, it might fall below $111,968, the next daily support level.

BTC might reach its all-time high of $123,218 if it rebounds and closes over $120,000 daily.

Ethereum falls after failing to break $3,000
Ethereum closed above daily barrier at $2,724 on Wednesday and rose 8.6% till Monday, but failed to break $3,000 resistance. As of Tuesday, ETH is trading below $2,971.

ETH may fall to its daily support of $2,724 if it continues to fall.

However, ETH might rise to $3,730, its next daily barrier, if it closes over $3,000 daily.

XRP may fall after retesting $3.

After breaking over daily resistance at $2.72 last week, Ripple's XRP retested $3 on Monday. On Tuesday, it dips below $2.88.

XRP may retest its daily support around $2.72 if it continues its slide.

If XRP finishes over $3 daily, it might continue the climb to $3.40, its January 16 high.

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