Test

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-faces-key-support-test" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Faces Key Support Test</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-surges-past-52000-but-faces-pressure-from-upcoming-large-sales" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>, Ethereum, and Ripple prices are nearing critical support levels as their downward trends persist. Bitcoin is currently priced at $56,600, Ethereum has slipped to $2,300, and Ripple is fighting to maintain support at the 200-day EMA. A close below these levels might indicate further declines.</p>
<h2 id="bitcoin-s-crucial-support-level">Bitcoin’s Crucial Support Level</h2>
<p style="text-align: justify">Bitcoin is confronting a significant support level at $56,000. A close below this threshold could lead to a decline to $54,000. The cryptocurrency has seen a 1.5% drop over recent days, with indicators like the Relative Strength Index (RSI) and Awesome Oscillator (AO) staying below critical levels, suggesting continued downward pressure.</p>
<p style="text-align: justify">Conversely, a close above $59,560 could negate this bearish outlook, potentially pushing the price up to $62,019 and allowing Bitcoin to gain positive momentum, potentially testing daily resistance at $65,379.</p>
<h2 id="will-ethereum-s-decline-continue">Will Ethereum’s Decline Continue?</h2>
<p style="text-align: justify">Ethereum is likewise struggling, mirroring Bitcoin’s bearish trend. It has fallen below $2,300, with a particular struggle at the $2,327 support level. A close beneath this could result in a drop to $2,118. RSI and AO indicators below crucial levels signal that the downtrend may persist.</p>
<p style="text-align: justify">However, if Ethereum surpasses the $2,619 resistance, it could rise to $2,927 and potentially test weekly resistance at $3,236, indicating a possible bullish shift.</p>
<h2 id="key-inferences-for-traders">Key Inferences for Traders</h2>
<p style="text-align: justify">– Bitcoin’s support at $56,000 is crucial; a drop below this could lead to a fall to $54,000.<br> – Ethereum’s critical support is at $2,327; falling below this could push it down to $2,118.<br> – Ripple’s support at $0.549 is vital; dropping below this could see it fall to $0.492.<br> – Positive closes above resistance levels for these cryptocurrencies could signal potential upward movements.</p>
<p style="text-align: justify">Ripple is currently at the 200-day EMA support at $0.549, trading at $0.551. A fall below this critical support could see the price drop to $0.492. The RSI and AO indicators suggest weak momentum, hinting at a continuing downtrend.</p>
<p style="text-align: justify">However, closing above the $0.626 resistance could lead to a <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a> structure shift, likely retesting $0.658 with a potential 5.3% increase.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-faces-key-support-test" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Faces Key Support Test</a></h5>

Bitcoin Faces Key Support Test

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