At about $66,000, Bitcoin finds support, and a rebound is likely.
If the price of Ethereum closes below the rising trendline, which serves as support, it may signal a potential fall in the near future.
The $0.488 level is a support level for the Ripple price; a closing below this level would indicate that the downturn is likely to continue.
The critical level of $66,000 provided support for Bitcoin (BTC), which may indicate a possible rebound. But Ripple (XRP) and Ethereum (ETH) are showing symptoms of weakness, and if they drop below their important support levels, their continuous slide will resume.
Once Bitcoin finds support around $66,000, it might stage a rally.
After finding support near the $66,000 mark on Friday, the price of bitcoin increased by 1.66% during the next two days. The price has dropped somewhat to roughly $67,700 as of Monday.
It has the potential to recover its October 21 high of $69,519 if the $66,000 level remains a support level. If the $70,000 level is broken and closed above, the rally may continue to retest its next important hurdle, which was the all-time high of $73,777 in mid-March.
With an RSI reading of 63 on the daily chart, which is higher than its neutral level of 50, bullish momentum is gathering steam.
Nevertheless, Bitcoin might 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.
At the area of the rising trendline, Ethereum finds support.
After encountering resistance around the 200-day exponential moving average (EMA) at $2,778 on October 21 and falling 11.87% in the subsequent five days, the price of Ethereum has found support at the ascending trendline, which has been drawn by combining many low levels with a trendline since early September. It is trading at around $2,490 as of Monday, a little lower.
Ethereum can continue its 11% fall to retest its $2,150 low on September 6 if it ends the day below the rising trendline around $2,419, its previous low.
The relative strength index (RSI) is showing rising negative momentum on the daily chart, with a reading of 46, below its neutral threshold of 50.
Nevertheless, Ethereum has the potential to rise and retest its 200-day exponential moving average (EMA) at $2.778 if it maintains support around the rising trendline and closes above Friday's high of $2,560.
If the Ripple price falls below $0.488, it will likely begin a downward trend.
On October 21, the $0.550 level of resistance from the 200-day exponential moving average (EMA) caused the ripple price to fall 8.3 percent till Friday. It recovered to $0.488, its low from August 6, and then rose little until Sunday. It is trading at a little discount, at around $0.514, as of this writing on Monday.
Retesting the low of $0.431 on August 5 would be possible if XRP keeps falling and closes below $0.488. This would be a 12% extension of the loss.
The relative strength index (RSI) is showing negative momentum on the daily chart, with a reading of 39, below its neutral threshold of 50.
The retest of XRP's 200-day exponential moving average (EMA) around $0.550 is possible if the $0.488 level remains a support.
