Bitcoin (BTC) and Ethereum (ETH) are currently retesting key support levels around $62,700 and $3,000, respectively, suggesting a potential for recovery, while Ripple is finding resistance at $0.640, and a breakout above this level could signal a bullish move in the near future.
Bitcoin price retests its 50% retracement level at $62,736, impending rally eyed. Ethereum price finds stability around the daily support level of $3,076, with potential recovery on the cards. Ripple finds resistance around the $0.643 level; a breakout of this level could signal a bullish move. Bitcoin and Ethereum are currently retesting key support levels around $62,700 and $3,000, respectively, suggesting a potential for recovery, while Ripple is finding resistance at $0.
If this level at $3,076 holds, ETH could rally 15% to retest its 61.8% Fibonacci retracement level at $3,530. The Relative Strength Index on the daily chart has briefly slipped below the neutral level of 50, while the Awesome Oscillator is on its way to doing the same. If bulls are indeed making a comeback, then both momentum indicators must maintain their positions above their respective mean levels. Such a development would add a tailwind to the recovery rally.
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