BTC, ETH & XRP Momentum Stalls ⚡ – Deeper Correction on Hori
koinmilyoner
Updated at: 2 hours ago
{"content":"BTC, ETH & XRP Momentum Stalls ⚡ – Deeper Correction on Horizon
Bitcoin is about $112,300 on Wednesday, down roughly 3% in two days.
Ethereum falls below its daily support at $4,232, risking a drop.
After falling almost 5% this week, XRP stands at $2.83.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) stabilized on Wednesday after plunging almost 3%, 6%, and 5% this week. Weakening momentum in the top three cryptocurrencies suggests further declines.
As momentum weakens, Bitcoin may correct more.
Bitcoin price dropped 3.19% over the following four days after failing to establish support around $116,000 on Friday, ending below the 50-day Exponential Moving Average at $113,794. It's roughly $112,157 as of Wednesday.
BTC may retest $107,245 daily support if it continues its decline.
BTC may rebound toward daily resistance at $116,000 if it closes above the 50-day EMA at $113,794.
Ethereum bears dominate momentum.
The Ethereum price fell 6.77% over the following four days, finishing below the next daily support level at $4,232 on Tuesday. Around $4,171 as of Wednesday.
ETH might revisit its 61.8% Fibonacci retracement level at $3,593 if it continues to fall.
Bitcoin and Ethereum's RSI and MACD indicators corroborate the pessimistic perspective, predicting a further decline.
However, ETH might return to $4,488 if it closes over the daily barrier at $4,232.
Slowing momentum tightens XRP bears grasp
XRP fell 6.62% on Tuesday after failing to establish support around the 61.8% Fibonacci retracement level at $2.99 on Friday. As of Wednesday, it's approximately $2.82.
XRP may retest $2.35 if it corrects and closes below $2.72.
Like Bitcoin and Ethereum, XRP's momentum indicators anticipate a deeper decline.
XRP might rebound to $2.99 resistance if it recovers.
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