- Bitcoin price is hovering around the weekly support level of $67,147.
- Ethereum price finds support around a 50% retracement level at $3,424.
- Ripple price retests its previous support at $0.467.
Bitcoin (BTC) price could undergo an initial dip before rallying, with the release of US CPI data today.
Ethereum (ETH) and Ripple (XRP) could also mirror BTC’s pattern, showcasing the synchronized dance of cryptocurrency markets.
Bitcoin price could turn volatile
Bitcoin price has crashed 7% in the last five days as it faces resistance at the weekly close of around $71,280.
Currently, it is hovering around the weekly support level of $67,147.
Bitcoin price is likely to be volatile because of today's US CPI news. This news could trigger BTC to sweep out buy-side liquidity before rallying upside.
In such a scenario, BTC could first crash 5% from its current price level of $67,416 to find support on the following levels.
- At $63,860, the midpoint level of the price imbalance is between $63,118 and $64,602.
- The $64,240 level is a 100% price retracement level, which roughly coincides with the 100-day Exponential Moving Average (EMA).
If BTC bounces off $64,240, then it could rally 11 % to reach its previous resistance level of $71,280.
BTC/USDT 1-day chart
However, if BTC breaks and closes below $60,919, the bullish thesis could be invalidated, leading to a crash of 4%, its weekly support level of $58,375.
Ethereum price looks promising
Ethereum price crashed 11% in the last six days as it failed to close above its $4,000 mark.
Currently, ETH is finding support around a 50% retracement level at $3,424, calculated from the swing low of $2,864 on May 13 to a swing high of $3,984 on May 27.
Ethereum price is likely to be volatile because of today's US CPI news. This news could trigger ETH to sweep out buy-side liquidity before rallying upside.
In such a case, ETH could first crash 5% from its current price level of $3,474 to find support at $3,279, the 61.8% Fibonacci retracement level.
If ETH bounces off $3,279, then it could rally by 20 % to reach its previous resistance level of $3,977.
ETH/USDT 1-day chart
On the other hand, if Ethereum's daily candlestick price closes below the $2,864 level, it would produce a lower low and signal a break in the market structure. This move would invalidate the aforementioned bullish thesis, potentially triggering an extra 9% crash to the previous support level of $2,600.
Ripple price seems set for liquidity sweep
Ripple price crashed 13% on June 7 after it failed to close above the 50-day Exponential Moving Average (EMA) at around $0.526.
Currently, it finds support at the $0.467 level.
Ripple price is likely to be volatile because of today's US CPI news. This news could trigger XRP to sweep out buy-side liquidity before rallying upside.
In such a case, XRP could first crash 6% from its current price level of $0.477 to find support at $0.450, which is its previous low.
If XRP bounces off $0.450, it could rally 17 % to $0.522, the 50-day EMA level.
XRP/USDT 1-day chart
However, if the Ripple daily candlestick closes below $0.450, then XRP could crash an additional 7% to its previous support at $0.419.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Top 3 gainers Supra, Cosmos Hub, EOS: Supra leads recovery after Trump’s tariffs announcement
Supra’s 25% surge on Friday calls attention to lesser-known cryptocurrencies as Bitcoin, Ethereum and XRP struggle. Cosmos Hub remains range-bound while bulls focus on a potential inverse head-and-shoulders pattern breakout.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin price remains under selling pressure around $82,000 on Friday after failing to close above key resistance earlier this week. Donald Trump’s tariff announcement on Wednesday swept $200 billion from total crypto market capitalization and triggered a wave of liquidations.
Can Maker break $1,450 hurdle as whales launch buying spree?
Maker is back above $1,300 on Friday after extending its lower leg to $1,231 the previous day. MKR’s rebound has erased the drawdown that followed United States President Donald Trump’s ‘Liberaton Day’ tariffs on Wednesday, which targeted 100 countries.
Gold shines in Q1 while Bitcoin stumbles
Gold gains nearly 20%, reaching a peak of $3,167, while Bitcoin nosedives nearly 12%, reaching a low of $76,606, in Q1 2025. In Q1, the World Gold ETF's net inflows totalled 155 tonnes, while the Bitcoin spot ETF showed a net inflow of near $1 billion.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.