No Relief Yet 😬 — BTC, ETH & XRP Extend Their Declines

Friday, Bitcoin trades below $109,000, down roughly 5% this week.

Ethereum may accelerate the correction if it closes below $3,593.

After a strong dip, XRP's 50-day EMA rejection at $2.67 keeps it at $2.46.


Bitcoin (BTC) is below $109,000 on Friday after falling roughly 5% this week. Ethereum and Ripple prices corrected by approximately 8% and 7%, respectively, after BTC. If these top three currencies drop below crucial support levels, losses might continue.

Bitcoin price rejected the 78.6% Fibonacci retracement level (from the April 7 low of $74,508 to the October 6 all-time high of $126,199) at $115,137 on Monday and fell 5.44% on Thursday. On Friday, BTC was approximately $109,100.

If BTC breaks the 61.8% Fibonacci retracement mark at $106,453, it might fall to the October 10 low of $102,000.

BTC may rebound to the 50-day EMA at $112,872 if it finds support around the 61.8% Fibonacci retracement level at $106,453.

Ethereum momentum weakens

On Monday, Ethereum price rejected the $4,232 daily resistance level and fell 8.86% by Thursday. As of Friday, ETH is about $3,833.

If ETH continues its retreat, it might fall below $3,593, the 61.8% Fibonacci retracement level.

ETH might return to the 50-day EMA at $4,089.

EMA rejects XRP at 50 days

On Monday, the 50-day EMA around $2.66 rejected XRP, which fell roughly 8% till Thursday, retesting $2.35. On Friday, XRP was approximately $2.46.

After breaking and closing below $2.35, XRP may decline around $1.96, the next daily support.


However, XRP might return to the 50-day EMA around $2.66.

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