- Bitcoin refused from $ 20,000 at the end of June.
- Ethereum pricing tests an important level of support.
- The Ripple price loses the fight as the bear is aiming for $ 0.29.
The crypto market continues to suffer from pessimism. If market conditions continue, the summer of 2022 will produce fruitless crops.
Bitcoin prices show a terrifying time
At the time of writing, Bitcoin is trading at $ 19,350. The bear appeared on the last day of June and was strong enough to generate a monthly closing price below the psychological $ 20,000 level of $ 19,942. The monthly closing price is currently the second largest bearish candlestick since May 2021. This unfortunate evidence indicates the need to consider lower targets for Bitcoin prices in the coming months. $ 18,750 and $ 17,300 are important levels of attention.
The nullification of the bearish downtrend relies on violations in excess of $ 23,500. If the Bulls can overcome the mid- $ 23,000 barrier, it could regain the trend, recover towards $ 31,000 and rise 60% from current Bitcoin prices.
BTC / USDT 1 month chart
Final support for Ethereum price testing
The price of Ethereum is trading at $ 1,047 at the time of writing. Fibonacci retracement tools surrounding June’s lows and highs ($ 881 to $ 1,233) suggest that ETH prices have lost 50% of their generated profits. If the Bulls can’t generate a recovery from current price levels, Bear re-trends the June 18 swing with the aim of pushing the knife catcher out of the market by lowering it at $ 890, potentially $ 700. Conquer It is worth noting that desk loss is underway as the 21-day moving average has plummeted to the infamous 200-week moving average. These major moving average conflicts confuse market-wide sentiment as the Crypto Fear and Greed Index revisits past levels.
The nullification of the bear trend remains a breach of over $ 1,284. If the Bulls can get rid of this level, they could rise to $ 2,100, resulting in a 100% increase from the current Ethereum price.
ETH / USDT 4 hour chart
Ripple’s XRP price loses bullish grounds
XRP prices are showing sustainability as June was a very volatile news correlation market. Technical suggests that the hype is over as the bear confidently broke through the Fibonacci retracement levels of 50% and 61.8% (around the June lows of $ 0.28 and the monthly highs of $ 0.38). doing.
The price of XRP seems to be aiming for a swing low of $ 0.28 at shortm. However, FX Street has long predicted a Ripple price of $ 0.20. Investors should consider clearing to around $ 0.20 as the second possible target.
Invalidating the bearish downtrend is a violation of over $ 0.39.
The next attempt at this $ 0.39 barrier could trigger a bullish recovery towards $ 0.51 and bring a 63% rise from the current XRP price.
XRP / USDT 4 hour chart