Bitcoin Nears Key Support, Risk of Further Losses
Bitcoin (BTC) price is close to its 50-day Exponential Moving Average (EMA) support at $114,002. It fell below the daily support level of $116,000 last Friday and continued to drop over the weekend. If BTC closes below the 50-day EMA on a daily basis, it may fall further toward the next support at $107,245.
The Relative Strength Index (RSI) is below 50, showing early bearish momentum. The Moving Average Convergence Divergence (MACD) is also about to turn bearish. However, if Bitcoin holds the 50-day EMA support, it could bounce back toward $116,000 resistance.
Ethereum Price Drops Below Key Support
Ethereum (ETH) price slipped below its daily support at $4,488 last Friday. It continued to fall and traded near $4,293 on Monday, down 3.43%. If ETH closes below $4,232, it could drop further to the next support level at $3,593.
The RSI stands at 43, indicating strong bearish momentum. The MACD showed a bearish crossover on Friday, signaling more downside risk. On the upside, if ETH finds support at $4,232, it may recover toward resistance at $4,488.
XRP Falls Below 50-Day EMA, Bears Remain in Control
Ripple’s XRP price dropped nearly 2% last week and continued to fall on Monday. It closed below the 50-day EMA and traded around $2.90. If the decline continues, XRP could reach the next support at $2.72.
Both the RSI and MACD indicators suggest bearish pressure. Still, if XRP recovers, it might rise toward resistance at $3.40.
