Bitcoin (BTC) dropped below $56,552 on Sunday, disrupting market structure and signaling a bearish outlook.
Bitcoin fell below $56,552 on Sunday, breaking the market structure and prompting a bearish outlook. Ethereum revisits the $2,817 support level, a close below it would indicate a bearish move. Ripple price finds support around the weekly support level of $0.413, breaking below signals a bearish move. Bitcoin dropped below $56,552 on Sunday, disrupting market structure and signaling a bearish outlook.
5%, and at the time of writing, it is again revisiting that low. If ETH's price closes below its May 1 low of $2,817, it could decline 6.5% to revisit its daily support at $2,621. The Relative Strength Index and the Awesome Oscillator on the daily chart support this bearish thesis, as both indicators are below their respective neutral levels of 50 and zero. This suggests continued momentum favoring bears, potentially leading to a further decline in theEthereum price.
Bitcoin Ethereum Cryptocurrencies Technical Analysis
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