- Bitcoin price consolidates between the $87,000 to $93,000 zone.
- Ethereum's price is nearing its support level of $3,000; a close below would cause a further correction.
- Ripple price is testing its resistance level at $1.13; a firm close above would continue its rally.
Bitcoin (BTC) price remains in a consolidation phase after reaching a new all-time high of $93,265 last week. Ethereum's (ETH) price is nearing its support level; a close below would cause a further price decline, while Ripple's (XRP) price shows bullish momentum as it tests and potentially breaks key resistance.
Bitcoin price consolidates within $87,000 to $93,000
Bitcoin price surged and reached a new all-time high (ATH) of $93,265 on Wednesday. Since then, it has been consolidating, with initial support of around $87,000. At the time of writing on Monday, it trades slightly higher, around $90,500.
If BTC drops below the $87,000 support level, it could lead to further declines toward $85,000. A successful close below this level might trigger a deeper sell-off to $78,800.
The Relative Strength Index (RSI) also stands at 74, well above its overbought level of 70. It points downwards, signaling increasing risk. Traders should exercise caution when adding to their long positions, as a move out of the overbought territory by the RSI could provide a clear sign of a pullback.
BTC/USDT daily chart
Conversely, if BTC breaks above and closes above $92,625, the rally could extend to the significant psychological level at $100,000.
Ethereum price is set for a downturn if it closes below $3,000
Ethereum price declined 8.8% until Sunday after being rejected around the weekly level of $3,454 on Tuesday. On Monday, it trades slightly higher, around $3,100, approaching its psychologically important level of $3,000.
If ETH closes below the $3,000 level, it could decline to retest its 200-day Exponential Moving Average of around $2,799.
The RSI indicator on the daily chart reads 61 after exiting its overbought level of 70. If the RSI continues its decline and closes below the neutral level of 50, the Ethereum price will further decline.
ETH/USDT daily chart
On the other hand, If ETH breaks and closes above the weekly resistance at $3,454, it will rally to retest its psychologically important $4,000 level.
Ripple price could extend rally above key resistance
Ripple price broke above the daily resistance of $0.718 on Thursday and rallied 62.5% until Saturday. It declined 5.9% on Sunday as it failed to close above the 50% price retracement at $1.13. On Monday, it trades higher by 8.8%, breaking above $1.13.
If XRP closes above $1.13, it could extend the rally by 21% to retest its next daily resistance at $1.372.
The RSI read 85, well above its overbought level of 70, signaling increasing risk. Traders should exercise caution when adding to their long positions, as a move out of the overbought territory by the RSI could provide a clear sign of a pullback.
XRP/USDT daily chart
However, if XRP fails to close above $1.13, it could decline to retest its psychologically important level of $1.00.
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
Japan mulls lifting Bitcoin ETF ban, slashing taxes on crypto gains
Japan's Financial Services Agency has proposed a rule change to bring crypto assets under the jurisdiction of the Financial Instruments and Exchange Act. The proposal, to be reviewed on June 25, could pave the way for the listing of Bitcoin ETFs.
Bitcoin recovers as Iran-Israel ceasefire fuels risk-on sentiment
Bitcoin price stabilizes around $105,000 on Tuesday after a 4.33% gain on Monday, driven by easing geopolitical and regulatory concerns. Global risk appetite is increasing as the ceasefire between Iran and Israel, along with the Fed's softer stance on crypto-related banking, takes hold.
Crypto Today: Bitcoin, Ethereum, XRP consolidate gains after Israel-Iran ceasefire
Tensions in the Middle East have taken the backseat after US President Donald Trump announced a ceasefire between Israel and Iran on Monday. Global markets, including cryptocurrencies, ticked up, boosting BTC's recovery above $105,000 at the time of writing on Tuesday.
Pi Network Price Forecast: Minor recovery teases trend reversal amid GenAI claims, Pi2Day
Pi Network edges higher on Tuesday, holding above a crucial psychological and trendline support. The Pi Core team teases a potential Generative AI feature to be announced on Pi2Day, June 28.
Bitcoin Weekly Forecast: The calm before the storm
Bitcoin (BTC) price remains steady above a key support level, trading slightly above $106,000 at the time of writing on Friday. The uncertainty looms as geopolitical tensions between Iran and Israel show no sign yet of an exit strategy from either side.
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.