Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) all plummeted last week, with a fall of nearly 5%, 13% and 7% respectively, amid increasing geopolitical tensions in the Middle East.
Currently, BTC is approaching a key support level around the $100,000 mark – a critical price zone that could determine the upcoming trend. If the king of cryptocurrency closes below this level, the risk of entering a deeper correction phase will significantly increase.
Meanwhile, ETH and XRP have officially broken through important support levels, indicating that selling pressure is still dominant. With the current decline, ETH could retreat to the $2,000 range, while XRP is at risk of continuing to weaken and dropping to the $1.77 mark.
Bitcoin may enter a deeper correction phase if it closes below the support level of $100,000.
On Saturday, the price of Bitcoin officially closed below the 50-day Exponential Moving Average (EMA) at $102,942, down 1.13%, and hit a low of $98,200 during Sunday’s trading session. As of Monday, BTC is fluctuating around the important support area of $100,000 — a critical psychological and technical level.
If the downtrend continues and BTC closes below $100,000 in the daily frame, selling pressure could push the price back to retest the recently established bottom of $98,200.
BTC/USDT daily chart | Source: TradingViewThe technical indicators are currently reinforcing the negative scenario: The relative strength index (RSI) on the daily timeframe is at 38 — below the neutral threshold — indicating a clear weakening of momentum. At the same time, the MACD indicator has just recorded a bearish crossover, along with a red histogram that is increasingly widening below the 0 line, reflecting dominant selling pressure and reinforcing the bearish signal.
However, if buying pressure reappears and supports around the $100,000 area proves effective, BTC could completely recover back to the 50-day EMA at $102,942 in the short term.
Ethereum risks falling deeper after breaking the 50-day EMA line.
The price of Ethereum has broken below the support of the accumulation range at $2,461 and closed below the 50-day EMA at $2,416 during Friday's session. This move has triggered a strong sell-off, resulting in a 7.65% drop in just the following two days. As of the time of writing on Monday, ETH is fluctuating around the $2,241 level.
If the adjustment trend continues, the next important support area is at the $2,000 mark – which could serve as a technical support point in the short term.
ETH/USDT daily chart | Source: TradingViewTechnical indicators continue to signal negativity. The daily RSI is currently at 34, approaching the oversold zone – clearly reflecting downward pressure. At the same time, the MACD indicator has formed a bearish crossover with a red histogram extending below the 0 line, indicating that the bears are in control and the downtrend may not have stopped yet.
However, in the recovery scenario, ETH may return to test the nearest resistance area, which is the 50-day EMA at $2,416.
( XRP may continue to adjust if it breaks the daily support at $1.96
XRP faced strong resistance at the 50-day )EMA around the $2.21 mark on June 17, leading to a nearly 10% correction as of Sunday. As of the time of writing on Monday, the price is approaching the important support level at $1.96 on the daily timeframe.
If this support level is broken and the closing price is below $1.96, the downtrend may continue to extend, pushing XRP deeper into the next support zone at $1.77.
![]###https://img-cdn.gateio.im/webp-social/moments-d0142d803cd4fa37d584b4f204e8d5ca.webp(XRP/USDT Daily Chart | Source: TradingViewThe RSI indicator is currently recorded at 36 – close to the oversold threshold – indicating that the bears are dominating the momentum. At the same time, the bearish crossover signal on the MACD along with the expanding red histogram below the 0 line further reinforces the view that selling pressure remains strong and the downtrend is unlikely to stop anytime soon.
However, in the recovery scenario, if XRP regains its upward momentum, the price could bounce back to the resistance area at the 50-day EMA line – around the $2.21 level.
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Price prediction for the top 3 cryptocurrencies: BTC, ETH, XRP weaken amid escalating geopolitical tensions.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) all plummeted last week, with a fall of nearly 5%, 13% and 7% respectively, amid increasing geopolitical tensions in the Middle East.
Currently, BTC is approaching a key support level around the $100,000 mark – a critical price zone that could determine the upcoming trend. If the king of cryptocurrency closes below this level, the risk of entering a deeper correction phase will significantly increase.
Meanwhile, ETH and XRP have officially broken through important support levels, indicating that selling pressure is still dominant. With the current decline, ETH could retreat to the $2,000 range, while XRP is at risk of continuing to weaken and dropping to the $1.77 mark.
Bitcoin may enter a deeper correction phase if it closes below the support level of $100,000.
On Saturday, the price of Bitcoin officially closed below the 50-day Exponential Moving Average (EMA) at $102,942, down 1.13%, and hit a low of $98,200 during Sunday’s trading session. As of Monday, BTC is fluctuating around the important support area of $100,000 — a critical psychological and technical level.
If the downtrend continues and BTC closes below $100,000 in the daily frame, selling pressure could push the price back to retest the recently established bottom of $98,200.
However, if buying pressure reappears and supports around the $100,000 area proves effective, BTC could completely recover back to the 50-day EMA at $102,942 in the short term.
Ethereum risks falling deeper after breaking the 50-day EMA line.
The price of Ethereum has broken below the support of the accumulation range at $2,461 and closed below the 50-day EMA at $2,416 during Friday's session. This move has triggered a strong sell-off, resulting in a 7.65% drop in just the following two days. As of the time of writing on Monday, ETH is fluctuating around the $2,241 level.
If the adjustment trend continues, the next important support area is at the $2,000 mark – which could serve as a technical support point in the short term.
However, in the recovery scenario, ETH may return to test the nearest resistance area, which is the 50-day EMA at $2,416.
( XRP may continue to adjust if it breaks the daily support at $1.96
XRP faced strong resistance at the 50-day )EMA around the $2.21 mark on June 17, leading to a nearly 10% correction as of Sunday. As of the time of writing on Monday, the price is approaching the important support level at $1.96 on the daily timeframe.
If this support level is broken and the closing price is below $1.96, the downtrend may continue to extend, pushing XRP deeper into the next support zone at $1.77.
![]###https://img-cdn.gateio.im/webp-social/moments-d0142d803cd4fa37d584b4f204e8d5ca.webp(XRP/USDT Daily Chart | Source: TradingViewThe RSI indicator is currently recorded at 36 – close to the oversold threshold – indicating that the bears are dominating the momentum. At the same time, the bearish crossover signal on the MACD along with the expanding red histogram below the 0 line further reinforces the view that selling pressure remains strong and the downtrend is unlikely to stop anytime soon.
However, in the recovery scenario, if XRP regains its upward momentum, the price could bounce back to the resistance area at the 50-day EMA line – around the $2.21 level.
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