Bitcoin Price Prediction: BTC/USD downward spiral may be stopped by $7,800 support level
BTC/USD has dropped from $7,930.85 to $7,895.30 in the early hours of Tuesday as the freefall continues. The daily confluence detector shows a strong resistance level at $7,940, which has the SMA 5, one-week Fibonacci 161.8% retracement level and one-day Bollinger Band.
Ripple Price Analysis: XRP/USD consolidates around the $0.208 level
XRP/USD dropped from $0.2098 to $0.2084 in the early hours of Tuesday. Earlier this Sunday, the price plummeted from $0.237 to $0.204 before it bounced up from the lower curve of the 20-day Bollinger Band. The MACD indicates increasing bearish momentum, while the Elliott Oscillator has had four consecutive red sessions, dropping from -0.031 to -0.042.
ETH/USD tentatively stable at $200, risks breakdown to $190
Ethereum price is holding above the key $200 support following a shallow recovery from $190. The losses during the weekend dispersed buyers from the market, most whom are still afraid of joining the relatively bearish market. ETH/USD teeters at $202 after losing a subtle 0.50% of its value on Tuesday during the Asian hours.
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