Bitcoin (BTC) price is leading the rest of the market into the weekend with fading momentum, as Ethereum (ETH) and Ripple (XRP) prices also enjoy cush
If Bitcoin price slips below the $24,995 key support level, the odds of a bearish breakdown increase.Ripple price could fall back into the bearish technical formation with prospects for an 8% slump to $0.4600.
The $24,995 support level is a ‘make-or-break’ for Bitcoin price. A decisive break below would send BTC to the psychological $24,000 and mark a bearish shift in trend. In the dire case, seller momentum could see the king of crypto hit $21,915, levels last seen around mid-March. In a highly ambitious case, Bitcoin price could foray into the zone above the psychological $30,000 before tagging $31,518. While the possibility for a northbound move remains bleak in the near term, it would constitute a 20% climb above current levels.Ethereum price is testing the $1,621 support level, which is shaky ground, considering momentum is fading.
With the right momentum, inspired by a strong move by Bitcoin, the price could see Ethereum price hit $1,841, an area last tested on August 15.Ripple price has broken out from a descending parallel channel after the exhaustion blow-off move lower on August 17. These are both bullish signs that the downtrend has finished. Further confirmation would be provided should the remittance token record a daily candlestick close above the 200-day EMA at $0.5233.
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