Friday brought a bit of relief to Bitcoin and Ethereum, alongside Ripple, as the downward slide seemed to ease up. Because the prices got stabilized above the key support levels, it certainly helped traders gain confidence after seeing huge volatility recently
Bitcoin climbed following a dip to $106,453—a key point based on Fibonacci calculations. Earlier, the price struggled near the 50-day EMA around $113,329, causing a 2.81% slide. Subsequently, Bitcoin bounced back, gaining 2.33%, so it’s currently valued over $110,400. Should Bitcoin finish a trading day higher than where it previously dipped from, it might challenge the 50-day average price—perhaps it may even climb to $115,137.
Momentum indicators suggest that selling may be slowing down; one indicates that strength is waning, while another is approaching a positive change. On the other hand, if prices drop below $106,453, they could drop as low as $102,000.
Ethereum fell more than 4% last week, reaching a peak of about $4,232. This week, it fell even more, but it is still above $3,800 at the moment. Another attempt on $4,232 is not out of the question if things continue to go this way. The price may drop, possibly reaching $3,593, a crucial level indicated by the 200-day average and a Fibonacci level. Although there is downward pressure, there are signs that it is easing a little.
XRP recovered from a low around $2.35 following an initial dip this week. It’s currently valued over $2.40, potentially heading towards $2.69. However, if it drops below $2.35, we could see it fall to $1.96.
