Bitcoin Faces Rejection at $116,000
Bitcoin price is trading in the red below $114,000 after failing to break through the $116,000 resistance level. The 50-day Exponential Moving Average (EMA) at $113,058 is now a critical support level. A break below this could see BTC testing the psychological $110,000 support.
- RSI at 44 indicates bearish momentum.
- MACD shows a bearish crossover, reinforcing the downtrend.
BTC/USDT daily chart
Ethereum Tests $3,730 Resistance
Ethereum price recovered 10.25% from its 78.6% Fibonacci retracement level at $3,392 but faced rejection at $3,730. Currently trading around $3,588, ETH risks falling back to $3,392 if the correction continues.
- RSI at 56 suggests bullish momentum but remains contested.
- MACD maintains a bearish crossover.
ETH/USDT daily chart
Ripple’s XRP Shows Weakness
XRP rebounded from the 50-day EMA at $2.80 but failed to sustain momentum, now trading below $2.92. A further drop could see it retesting $2.80.
- RSI slipping below 50 signals fading bullish strength.
- MACD aligns with the bearish outlook.
XRP/USDT daily chart
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