- Bitcoin consolidates between $116,000 and $120,000 amid slowing upward momentum.
- Ethereum struggles below $3,730 after a bounce from $3,500 support.
- XRP falls below $3.15, down nearly 10% this week, signaling further downside.
Bitcoin (BTC) Price Outlook: Caution as Bullish Steam Wanes
Bitcoin continues to trade sideways, locked in a consolidation range between $116,000 and $120,000 for the past ten days. This period of tight price action follows BTC’s all-time high of $123,218 on June 14.
As of Friday, BTC hovers near the lower boundary of its range. A decisive daily close below $116,000 could open the door for a deeper correction, with the 50-day Exponential Moving Average (EMA) near $111,458 as a key support level.
- RSI has dropped to 55, turning lower after rejecting overbought territory earlier in the week.
- MACD also flashed a bearish crossover, reinforcing signals of a cooling rally.
A strong close above $120,000 could invalidate the bearish outlook and pave the way for a retest of the $123,218 high.
Ethereum (ETH) Price Analysis: Holding $3,500 Is Crucial
Ethereum failed to maintain support at $3,730 earlier this week, leading to a 3.15% decline. Although ETH bounced from the $3,500 psychological support zone on Thursday, it faces renewed rejection near $3,730.
At the time of writing, ETH trades lower on the day. A close below $3,500 could trigger a deeper drop toward the $3,000 handle.
- RSI sits at 72 but is pointing down, reflecting waning buying pressure.
- MACD shows narrowing momentum with declining green histogram bars — another signal of exhaustion in the uptrend.
Conversely, if ETH finds support at $3,500 and reclaims $3,730 on a daily close, it may resume its rally toward the $4,000 mark.
Ripple (XRP) Price Prediction: Bearish Setup Develops
XRP has been the weakest of the three majors this week, plunging nearly 10%. After reaching an all-time high of $3.66 last Friday, the token has consistently moved lower. On Thursday, XRP retested the 61.8% Fibonacci retracement level at $2.99.
As of Friday, XRP trades at $3.08. A daily close below the $2.99 support could trigger another leg down toward the $2.72 zone.
- RSI has slipped to 58, reflecting a steep drop from recent overbought levels.
- MACD confirmed a bearish crossover midweek, signaling building downside momentum.
Unless XRP quickly recovers above $3.40, the technical bias remains tilted to the downside.
Conclusion: Traders Should Brace for More Volatility
Bitcoin’s tight range, combined with bearish signals on Ethereum and Ripple, suggests the broader crypto market may be due for a short-term correction. Momentum indicators across the board show signs of fatigue, so traders should remain cautious until clearer breakouts or support confirmations emerge.
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