3 Major Crypto Assets Price Predictions: Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) Short-term Pullback Risks Intensify

As the bullish momentum continues to wane, Bitcoin (BTC), Ether (ETH), and Ripple (XRP) are showing signs of weakness midweek. BTC continues its downtrend, trading below $106,000, while ETH and XRP have breached key support levels, raising concerns in the market about further pullbacks in the future.

If BTC closes below the 50-day moving average, it may fall further

FXStreet analyst Manish Chhetri stated that Bitcoin price surged significantly by 7.32% last week, closing above $108,000. However, there was a pullback on Monday, continuing to fall, and the next day it closed below $106,000. As of the writing of this article, Bitcoin price is hovering around $106,100.

If BTC continues to pull back and closes below the 50-day Exponential Moving Average (EMA) of $104,245, it may extend the fall towards the psychological barrier of $100,000.

The relative strength index on the daily chart (RSI) is at 51, hovering around the neutral level of 50, indicating that traders are hesitant. To maintain the bearish momentum, the RSI must drop below the neutral level. The moving average convergence divergence (MACD) suggests a bearish crossover (the MACD line is close to crossing below the signal line), and if completed, it will issue a sell signal.

However, if the 50-day EMA level of $104,245 continues to serve as a support level, BTC may continue its bullish trend until it reaches its historical high of $111,980 on May 22.

(Source: Trading View)

ETH closed below the key support level, a pullback is expected

Earlier this week, the price of Ether failed to find support near its daily level of $2,461, closing below the 50-day moving average at $2,428 on Tuesday. As of Wednesday when this article was written, the price of Ether is hovering around $2,428.

If ETH continues to pull back, it may extend the downtrend and retest the low of $2,111 from June 22.

The RSI indicator on the daily chart is 47, below the neutral level of 50, indicating that bearish momentum is strengthening.

The MACD indicator also crosses each other, indicating that traders are hesitant.

On the other hand, if Ether recovers and closes above $2,461, it may extend its bullish momentum until the next daily resistance level of $2,724.

(Source: Trading View)

XRP is facing a key resistance level and is about to fall

The price of XRP failed to close above the daily resistance level of $2.23 on Monday, falling nearly 3% the next day. As of Wednesday when this article was written, its price hovered around $2.18.

If XRP continues to pull back, it may extend its downtrend and retest the next daily support level of 1.96 USD.

The RSI indicator on the daily chart hovers around the neutral level of 50, indicating that traders are hesitant. To maintain a bearish momentum, the RSI indicator must fall below the neutral level.

On the contrary, if XRP recovers and closes above the daily resistance level of 2.23 USD, it may extend its bullish momentum to the high of 2.47 USD on May 23.

(Source: Trading View)