Bitcoin, Ethereum, Ripple Price Alert: BTC, ETH, XRP Teeter on Edge of Major Correction
Crypto markets hold their breath as the big three show cracks in their armor.
Bitcoin wobbles near key support
King BTC flirts with danger after failing to sustain its latest rally—traders eye $50K as make-or-break territory. The 'digital gold' narrative gets its first real stress test since the last halving.Ethereum's smart contract crown slips
ETH's gas fees hit 'absurd' levels again (thanks, DeFi degens), just as institutional money starts questioning its scalability promises. Vitalik's roadmap better deliver—or else.Ripple's legal limbo weighs heavy
XRP can't shake its SEC shadow despite partial wins. Banks keep flirting with the tech while avoiding the token—classic Wall Street hypocrisy at play.Correction coming or fakeout brewing? Market makers love this volatility—your portfolio? Not so much. One thing's certain: the crypto casino never closes, even when the house looks shaky.
Bitcoin could decline further if it closes below its 50-day EMA
Bitcoin price ROSE sharply by 7.32% last week, closing above $108,000. However, it faced a correction on Monday and continued its decline, closing below $106,000 the following day. At the time of writing, it hovers at around $106,100.
If BTC continues to face a pullback and closes below its 50-day Exponential Moving Average (EMA) at $104,245, it could extend the decline toward its psychological level of $100,000.
The Relative Strength Index (RSI) on the daily chart reads 51 and is hovering around its neutral level of 50, indicating indecisiveness among traders. For the bearish momentum to be sustained, the RSI must move below its neutral level. The Moving Average Convergence Divergence (MACD) hints at a bearish crossover (the MACD line is close to crossing below the signal line), which, if completed, WOULD give a sell signal.
BTC/USDT daily chart
However, if the 50-day EMA level at $104,245 remains strong as support, BTC could extend its rally toward the May 22 all-time high at $111,980.
Ethereum is poised for a pullback as it closes below the key support level
Ethereum price failed to find support around its daily level of $2,461 earlier this week and closed below its 50-day EMA at $2,428 on Tuesday. At the time of writing on Wednesday, it hovers around $2,428.
If ETH continues its correction, it could extend the decline to retest its June 22 low of $2,111.
The RSI on the daily chart reads 47, below its neutral level of 50, indicating that bearish momentum is gaining traction. The MACD indicator also coils against each other, indicating indecisiveness among traders.
ETH/USDT daily chart
On the other hand, if ETH recovers and closes above the $2,461 level, it could extend the rally toward its next daily resistance level at $2,724.
XRP is set for a down leg as it faces rejection from key resistance
XRP price failed to close above its daily resistance level at $2.23 on Monday and declined nearly 3% the next day. At the time of writing on Wednesday, it hovers at around $2.18.
If XRP continues its correction, it could extend the decline to retest its next daily support at $1.96.
The RSI on the daily chart hovers around its neutral level of 50, indicating indecisiveness among traders. For the bearish momentum to be sustained, the RSI must MOVE below its neutral level.
XRP/USDT daily chart
Conversely, if XRP recovers and closes above the daily resistance at $2.23, it could extend the rally toward its May 23 high of $2.47.
Bitcoin, altcoins, stablecoins FAQs
What is Bitcoin?
Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
What are altcoins?
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
What are stablecoins?
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
What is Bitcoin Dominance?
Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
