🚨 Bitcoin, Ethereum, Ripple Under Watch
Bearish pressure causes bitcoin price to fall below its lower consolidation level around $116,000, signifying a drop.
Ethereum price falls below crucial support, suggesting a decline below $3,500.
XRP is above a major support at $2.99, but a closure below would send it to $2.78.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) prices are weakening as bearish gather momentum. BTC and ETH fall below crucial support levels, while XRP remains around a critical level, suggesting near-term bearish swings.
On Thursday, bitcoin price broke below its lower consolidation barrier of $116,000, completing a 16-day consolidation period and suggesting a market move. On Friday, it was approximately $115,800.
BTC may retest the 50-day EMA at $112,961 if it continues to fall.
BTC might return to its consolidation range upper limit at $120,000.
Ethereum bears target $3,500
Thursday, Ethereum fell over 3% below its daily support level of $3,730. On Friday, it was approximately $3,700.
If ETH keeps falling, it might reach $3,500, the next support.
However, ETH might rebound to its psychological threshold of $4,000.
XRP may fall if it breaks $2.99 support.
XRP fell 11% the day after breaking below $3.40, the daily support level. It rebounded 3.43% over the weekend after retesting its 61.8% Fibonacci retracement at $2.99 on Friday. After starting the week on Monday, XRP fell 6.43% till Thursday. It now trades at $3, with support around $2.99.
If XRP closes below $2.99, it may fall to its next daily support level of $2.72.
If $2.99 support holds, XRP may rebound to $3.40, its prior support.
