Major cryptocurrencies, including Bitcoin (BTC) 
$92,897, Ethereum (ETH) 
$0.000347, and Ripple 
$0.008406’s XRP, have kicked off the week with fluctuating trends. Particularly, Bitcoin’s sideways movement has prompted similar performance from altcoins. As market volatility increases, many are curious about what to expect from these cryptocurrencies in the upcoming days.
Bitcoin’s Price Fluctuations Persist
Last week, Bitcoin lost 5% of its value, causing concern among market participants. Over the past 30 days, it has recorded an 8% decline. Daily trading volume surged by 59.12%, reaching $25.9 billion. However, Bitcoin’s Relative Strength Index (RSI) shows a neutral trend. On the other hand, the downward movement of the Simple Moving Average (SMA) indicator suggests that the downtrend may continue.
Experts suggest that if Bitcoin’s price enters an upward trend, it may retest the $100,000 level. However, if bears take control, a pullback towards $90,000 is anticipated.
Key Levels Tested in Ethereum and Ripple
Ethereum followed Bitcoin’s trend, losing 1.07% in the last 24 hours. Its daily trading volume stands at $13.7 billion. The Moving Average Convergence Divergence (MACD) indicator shows an increase in red histogram, while the Exponential Moving Average (EMA) has made a negative crossover with the 50-day line, indicating increased selling pressure.
Should Ethereum maintain its support level at $3,272, it could aim for $3,700. However, in a potential downturn, a price drop to the $3,100 range is expected.
XRP has also experienced a decline of 1.47% in the last 24 hours. Its daily trading volume reached $5.4 billion. Year-to-date, the altcoin has seen an 8.10% increase in value and is currently trading above $2.50. A potential bullish crossover in the SMA indicator suggests that the price could retest the $3 mark, while a prevailing downturn might pull it back to $2.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
