Top 3 Price Forecasts

Top 3 Price Forecasts for Bitcoin, Ethereum, and Ripple: When BTC, ETH, and XRP plummet, the market loses $1.17 billion.

The price of bitcoin closes below the $100,000 support level, indicating that it will continue to drop.
The price of Ethereum closes below the weekly mark of $3,522, suggesting that a correction is imminent.
The price of ripple is retesting the $2.21 daily support level; a strong closing below might extend the current decline.

The price of bitcoin (BTC), which has dropped more than 6% this week, is trading below $98,000 on Friday. BTC’s lead was followed by Ethereum (ETH) and Ripple (XRP), which closed below their major support and fell 12% and 4.5% this week, respectively.

The cryptocurrency market is experiencing a wave of liquation as a result of this recent price decline. According to CoinGlass statistics, this decline has led to more than $238 million in Bitcoin, $220 million in Ethereum, and $47 million in XRP, as well as over $1.17 billion in total liquidations during the past day. Top 3 Price Forecasts

The price of bitcoin is about to drop as it closes below the $100K support level.

Tuesday saw the price of bitcoin hit a new all-time high of $108,353, but it fell 7.8% over the next two days to close below the $100K support level. It is currently trading at about $97,500 as of Friday.

Bitcoin may prolong the slide to retest the $90,000 support level if it keeps correcting.

The daily chart’s Relative Strength Index (RSI) indicates bearish momentum with a reading of 49 points below its neutral level of 50. Additionally, on Wednesday, the Moving Average Convergence Divergence (MACD) indicator displayed a bearish crossover, indicating a negative trend.

However, Bitcoin may continue to rise and retest its all-time high (ATH) of $108,353 if it bounces back and closes over $100,000. Top 3 Price Forecasts

Ethereum bears pick up steam

The price of Ethereum fell 14% during the following three days, finishing below the weekly level of $3,522, after being rejected on Monday around the $4,000 mark. It is currently trading at about $3,450 as of Friday.

The drop would continue to retest ETH’s next daily support at $3,029 if the $3,522 level remains as resistance and it closes below $3,335.

Strong bearish momentum is shown by the daily chart’s RSI, which is 42 points below the neutral level of 50. Top 3 Price Forecasts

Ethereum may continue to recover and retest its $4,000 barrier if it breaks and closes above the $3,522 mark.

Ripple bulls exhibit indications of fatigue.

The price of ripple fell 12.78% over the next two days after encountering resistance on Tuesday around the $2.66 mark. As of Friday’s writing, it is trading at about $2.33 after bouncing off the $2.21 daily support level.

XRP may continue to fall and retest its next support level at $1.96 if it closes below the $2.21 level. Top 3 Price Forecasts

Following Tuesday’s rejection of the overbought level of 70, the RSI on the daily chart now stands at 57, indicating a waning of the positive momentum. The price of ripple may drop precipitously if the RSI falls below the neutral level of 50. Top 3 Price Forecasts

XRP may continue the advance to retest the psychologically significant milestone of $3.00 if it rises and closes above $2.66. Top 3 Price Forecasts

Frequently Asked Question

What factors led to the recent drop in Bitcoin, Ethereum, and Ripple prices?

The recent price decline is attributed to bearish momentum in the market, key support levels being broken, and strong liquidation activities. Indicators like RSI and MACD further signal bearish trends for these cryptocurrencies

What are the potential support and resistance levels for Bitcoin?

Bitcoin has fallen below the critical $100,000 support level and is currently trading near $97,500. If the decline continues, it may retest the $90,000 support level. Conversely, a recovery above $100,000 could lead to a retest of its all-time high at $108,353.

What is the outlook for Ethereum in the near term?

Ethereum is trading below the weekly $3,522 mark. If bearish momentum persists, it may retest the $3,029 support level. A break above $3,522, however, could pave the way for a retest of the $4,000 resistance.

How is Ripple (XRP) performing compared to Bitcoin and Ethereum?

Ripple has dropped to $2.33 after encountering resistance at $2.66. If it closes below the $2.21 support level, it may fall further to $1.96. However, a rebound above $2.66 could push it toward the $3.00 milestone.

What impact has the cryptocurrency market's decline had on liquidation statistics?

The recent drop has triggered massive liquidations, amounting to over $1.17 billion in total. This includes $238 million in Bitcoin, $220 million in Ethereum, and $47 million in Ripple, according to CoinGlass data.

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