Bitcoin price breaks below the weekly support level at $58,375, signaling a bearish move. Ethereum price fell below $3,240, its daily low on June 24, indicating a shift in the market structure from bullish to bearish. Ripple price trades below the weekly support level of $0.413, indicating a bearish trend ahead. Bitcoin breached the weekly support level of $58,375 on Thursday; as of Friday, it is trading 2.8% lower at $55,314.
It is trading around $2,914 as of Friday, reflecting a further decrease of 4.4% from the previous day's level. If ETH's price closes below its May 1 low of $2,817, it could decline 6.5% to revisit its daily support at $2,621. The Relative Strength Index and the Awesome Oscillator on the daily chart support this bearish thesis, as both indicators are below their respective neutral levels of 50 and zero.
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Source: FXStreetNews - 🏆 14. / 72 Read more »