FXStreet Price Prediction: BTC, ETH, and XRP Stabilize Near Key Support Levels

According to Gate News bot, FXStreet analyst Manish Chhetri stated that Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are showing signs of stabilization near key support levels after experiencing a recent pullback last week. BTC is attempting to regain upward momentum after closing below the key support level, while ETH and XRP are hovering near technical thresholds that may determine their next moves.

Manish pointed out that BTC closed below the daily support level of $106,406 last Thursday, and after retesting the 50-day Exponential Moving Average (EMA) at $102,893 the next day, a rebound occurred. Over the weekend, the price of Bitcoin stabilized around $105,000. As of Monday when this article was written, the price of Bitcoin continued to consolidate, trading at around $105,788. If BTC fails to close above the resistance level of $106,406 and declines, it may continue the downward trend and retest the key psychologically significant level of $100,000.

The Relative Strength Index (RSI) on the daily chart hovers around the neutral level of 50, indicating traders are hesitant. The Moving Average Convergence Divergence (MACD) indicator on the daily chart shows a bearish crossover, suggesting selling opportunities and a potential downtrend.

However, if BTC recovers, it may extend the recovery momentum and retest its daily level of $106,406.

(Source: FXStreet)

Source: FXStreet