Bitcoin is expected to make a comeback after retesting and finding support at the $66,000 mark.
The price of ether has leveled off after testing the $2,461 daily support level; a collapse would be imminent if the price closed firmly below this level.
With a probable slump likely to continue, the 200-day exponential moving average (EMA) of $0.552 was challenged by the ripple price.
There is hope for a Bitcoin (BTC) comeback as the cryptocurrency has found support at the crucial $66,000 mark. Ethereum (ETH) and Ripple (XRP) prices, on the other hand, are battling to stay below key support levels, suggesting that their downtrends may continue.
Once Bitcoin found support at roughly $66,000, it began to show signs of recovery.
On Wednesday, the price of bitcoin fell to retest the $66,000 mark; on Thursday, it regained support and rose 2.3%. It is trading at a little discount to $68,000 as of this writing on Friday.
Reclaiming Monday's high of $69,519 might be possible if the $66,000 level remains a support. The rise has already reached an all-time high of $73,777 in mid-March; a successful break and close over $70,000 might prolong the rally to retest its next critical barrier.
The daily chart's Relative Strength Index (RSI) is pointing higher at 60 after rebounding off the neutral level of 50 on Wednesday, suggesting that the bullish momentum is gathering steam.
On the other side, Bitcoin may fall 5.8% to retest $62,055, the 61.8% Fibonacci retracement level (drawn from July's high of $70,079 to August's low of $49,072), if it breaks and closes below $66,000 support.
If Ethereum prices fall below $2,460, a decline is imminent.
Following earlier this week's meeting with resistance around a declining trendline (formed by connecting successive highs from the end of May), the price of Ethereum broke and closed below the 50-day Exponential Moving Average (EMA) at $2,559 on Wednesday. On Thursday, it tested and retested its daily support level of $2,461, which helped stabilize it. However, it will encounter resistance at the 50-day exponential moving average. As of Friday, its price is hovering at $2,519, down a little.
Ethereum can fall more than 12% to retest its $2,149 low from September 6 if it ends the day below the $2,461 support level.
On the daily chart, the relative strength index (RSI) has fallen to 47, below its neutral level of 50, suggesting that the negative momentum is becoming stronger.
On the other hand, ETH has the potential to rebound and retest its high of $2,769 if it climbs and closes above the 50-day EMA around $2,560.
Rejection from the 200-day exponential moving average puts the Ripple price in a downtrend.
Earlier this week, Ripple's price encountered resistance at the $0.551 level, which it subsequently broke, leading to a 3.78% loss till Wednesday. It has been trading marginally lower at around $0.527 since Friday.
If the 200-day exponential moving average (EMA) at $0.551 remains as a hurdle, it may resume its fall and retest the $0.502 low it reached on September 6.
The relative strength index (RSI) is showing negative momentum on the daily chart, with a reading of 41, below its neutral threshold of 50.
Contrarily, XRP can resume its ascent to retest its next daily barrier at $0.626 if it opens the market and closes above the 200-day exponential moving average (EMA) at $0.552.
