Bitcoin (BTC) and Ethereum (ETH) showed a modest recovery on Friday following Thursday's downturn, yet momentum indicators suggest continuing the decline as signs of bull exhaustion emerge.
Bitcoin price reaches a new all-time high of $93,265 on Wednesday and declines slightly. Ethereum 's price is approaching its crucial support level of $3,000; a close below would cause a price decline further. Ripple price is nearing its key resistance level of $0.854; a rejection would lead to a decline. Bitcoin and Ethereum showed a modest recovery on Friday following Thursday's downturn, yet momentum indicators suggest continuing the decline as signs of bull exhaustion emerge.
On Friday, it trades slightly higher, around $3,084, approaching its $3,000 psychologically important level. If ETH closes below the $3,000 level, it could decline to retest its 200-day Exponential Moving Average of around $2,789. The RSI indicator on the daily chart reads 61 after exiting its overbought level of 70. If the RSI continues its decline and closes below the neutral level of 50, the Ethereum price will further decline.
Ethereum Ripple Cryptocurrencies Technical Analysis
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