- Bitcoin price approaches the $58,700 level; a close below could continue its downward move.
- Ethereum price breaks below the ascending trendline, signaling a bearish trend ahead.
- Ripple price retests its 200-day EMA at $0.551; a slip below would suggest a bearish move on the horizon.
Bitcoin (BTC) and Ripple (XRP) prices approach their key support level; closing below may signal a continuation of its downward trend. Ethereum (ETH) price has breached its ascending trendline, indicating a potential bearish shift.
Bitcoin price is poised for a downleg following a close below the $58,700 level
Bitcoin price was rejected around the daily resistance level at $65,379 on Sunday, declining by 7.5% in the next two days. On Wednesday, it continues to trade down slightly by 0.1% at $59,368.
If BTC continues to decline and closes below the $58,783 level, it could decline further by 4.5% to retest its daily…
