Bitcoin (BTC) encounters resistance near the $62,000 mark, while Ripple (XRP) mirrors BTC's challenge around the $0.500 level.
Bitcoin price faces pullback resistance at the lower band of the descending wedge around $62,000. Ethereum price finds support at $3,288, the 61.8% Fibonacci retracement level. Ripple price faces resistance at $0.500, its daily resistance level. Bitcoin encounters resistance near the $62,000 mark, while Ripple mirrors BTC's challenge around the $0.500 level. Meanwhile, Ethereum finds solid support around the critical price point of $3,288.
If this support at $3,288 holds, ETH price could rally 8% from its current trading level of $3,457 to tag its previous high of $3,717 on June 9. The Relative Strength Index and the Awesome Oscillator in the daily chart are both below their neutral level of 50 and zero. If bulls are indeed making a comeback, then both momentum indicators must maintain their positions above their respective neutral levels.
Ethereum Ripple Cryptocurrencies Technical Analysis
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