Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC holds critical support, ETH awaits directional move, XRP weakens
- Bitcoin finds support around the $62,300 horizontal floor on Monday after a 3.08% drop last week.
- Ethereum continues to consolidate between the 50- and 100-day EMAs, with a potential breakout ahead.
- XRP is under pressure, trading at $1.00, with weakening momentum suggesting deeper losses.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) begin the week on a cautious note after slipping over 3%, 1.5%, and 3.5%, respectively, in the previous week. BTC finds support around the key $62,300 level while ETH continues to trade sideways. Meanwhile, XRP hovers around $1.00, with weakening momentum suggesting deeper losses.
Bitcoin finds support around key $62,300 mark
Bitcoin price trades at $63,135 on Monday, holding a bearish near-term bias as it remains capped beneath the 50-day Exponential Moving Average (EMA) at $64,306 and well below the 100-day and 200-day EMAs at $66,388 and $71,800, respectively.
Momentum readings reinforce the downside skew, with the Relative Strength Index (RSI) hovering at 44 in neutral-to-weak territory and the Moving Average Convergence Divergence (MACD) indicator entrenched in negative territory, suggesting lingering selling pressure despite the recent stabilization above $63,000.
On the topside, initial resistance is located at the 50-day EMA near $64,306, with a stronger cluster emerging around the 38.2% Fibonacci retracement of the latest swing at $65,547 and the 100-day EMA at $66,388, just ahead of the horizontal barrier at $66,500; a daily close above this zone would be needed to ease the current bearish tone and open the way toward the 50% retracement level at $67,940.
On the downside, immediate support is seen at the 23.6% Fibonacci retracement at $62,586, followed by the horizontal floor at $62,300, where a break would likely expose deeper losses toward the lower end of the broader range.
Ethereum continues to be range-bound
Ethereum price trades at $1,892 on Monday, holding above the 50-day EMA at $1,867 but remaining capped beneath the 100-day EMA at $1,919; it has traded sideways since mid-July.
The RSI near 53 hints at modest positive momentum, yet the MACD stays negative, suggesting buying pressure is tentative rather than impulsive.
On the topside, initial resistance sits at the 100-day EMA around $1,919; a break there would expose the psychological horizontal barrier at $2,000 before the more strategic 200-day EMA at $2,118.
On the downside, the 50-day EMA at $1,867 provides immediate support; a daily close below this level would open the door to the more distant horizontal support zone near $1,385, where a major structural floor emerges on the longer-term chart.
XRP shows caution signals
XRP price trades at $1.00 on Monday, keeping a bearish bias as price holds beneath the 50-day EMA at $1.07 and the 100-day EMA at $1.15. The broader trend backdrop remains heavy with the 200-day EMA far above at $1.35, while the RSI around 37 and a negative MACD reading both hint at lingering downside pressure rather than an imminent bullish reversal.
On the topside, initial resistance emerges at the 50-day EMA near $1.07, followed by the 100-day EMA around $1.15 and the horizontal barrier at $1.30, with a more distant cap reinforced by the 200-day EMA near $1.35 and the structural high around $1.90.
On the downside, immediate support is aligned with the psychological and horizontal floor at $1.00, where a sustained break would expose fresh lows and deepen the prevailing bearish structure.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Cryptocurrency prices FAQs
Token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.
A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platform via exploits, bugs or other methods. The exploiter then transfers these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets.
Macroeconomic events like the US Federal Reserve’s decision on interest rates influence crypto assets mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.
Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs.
Recommended Articles
Comments (0)
Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.