After retesting its 50-day Exponential Moving Average (EMA) at $102,893 the next day, the price of bitcoin recovered from closing below its daily support level of $106,406 on Thursday.
Bitcoin remained steady throughout the weekend, hovering around the $105,000 mark. As of Monday, it is still consolidating and is trading at about $105,788. If Bitcoin falls and is unable to close above the resistance level of $106,406, it may continue to fall until it reaches its crucial, psychologically significant level of $100,000.
If Ethereum closes below its 50-day EMA
The price of Ethereum fell 8.69% until Saturday after failing to find support on Thursday around the upper consolidation level of $2,724. The following day, however, ETH was just over its bottom consolidation limit of $2,461. As of this writing on Monday, it is still over this threshold.
ETH may continue to fall and retest its next support level at $2,000 if it experiences a pullback and closes below its 50-day EMA at $2,429.
If XRP is about to drop below its 50-day EMA
The price of XRP fell by around 6% until Saturday, closing below its 50-day EMA level at $2.24 on Thursday. But the following day, it recovered by 1.22%. It is currently approaching its 50-day EMA at $2.24 as of Monday's writing.
XRP may continue to fall and retest its next daily support level at $1.96 if it is rejected by its 50-day EMA.
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