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Mr Arham

02/07 15:32

Crypto Market Faces Significant Downturn: Bitcoin,

Crypto Market Faces Significant Downturn: Bitcoin, Ethereum, and Ripple Plummet The cryptocurrency market witnessed a sharp decline as Bitcoin $BTC , Ethereum $ETH and Ripple $XRP experienced significant drops, signaling a potential bearish trend ahead. Bitcoin's Struggle Below Key Support Bitcoin closed below its 50-day Exponential Moving Average (EMA) at $98,611, setting the stage for further decline. As of Monday, BTC is trading at $93,800, down 4.3%. The bears are in control, with the potential to retest the $90,000 support level. A breach below this point could extend the drop to $85,000. Conversely, if BTC finds support around $90,000, it may rebound to its 50-day EMA at $98,611. Ethereum's Bearish Correction Ethereum's price dipped 13.87% on Saturday, breaking below its $3,000 support level. By Monday, ETH traded at $2,490, down 13%. The next critical support lies at $2,359. If ETH closes below this level, it may further test $1,905. The daily RSI is 27, indicating strong negative momentum, with the MACD showing a continuing bearish trend. A rebound to $3,000 is possible if ETH finds support at $2,359. Ripple's Downtrend Ripple broke its upward trendline and closed below its 50-day EMA at $2.60 on Sunday. By Monday, XRP fell 12.60%, trading at $2.25. If XRP continues its downward trajectory and breaks the $1.96 support, it may decline further to its weekly support at $1.40. Overall, the technical outlook for BTC, ETH, and XRP suggests a continued bearish trend, with critical support levels under threat. Investors should exercise caution and monitor market developments closely. What strategies are you considering in response to this market movement? Share your thoughts in the comments and follow for more updates! Happy Trading 😊 #BitcoinReserveWave #MarketPullback #bearishmomentum
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