Bitcoin, Ethereum, Ripple: Blocked at $70,000
Bitcoin price confronts rejection at $69,648, but a closure above it would imply a positive rise.
Ethereum price finds daily support around $3,076, suggesting a bullish trend.
An upcoming surge is expected when ripple price reaches daily support around $0.544.
Bitcoin (BTC) fails to breach $70,000, but Ethereum (ETH) and Ripple (XRP) remain stable near their daily support levels, signaling a rally.
Bitcoin rallied 4% the following three days after retesting $64,737 daily support on July 25. The weekly resistance level of $69,648 is holding it back. It fell 0.67% to $66,406 on Tuesday.
BTC might gain 10% to retest its June 7 high of $71,997 if daily support around $66,406 and the rising trendline hold.
A daily lower low would convert the market structure from positive to bearish if the closing below $62,736 and the rising trendline break. Bitcoin's price might drop 10% to $56,405, its July 12 low.
On July 25, Ethereum price retested $3,076 daily support and bounced 4.63% over four days. Once trendline resistance, this daily support level now supports. On Tuesday, ETH trades at $3,302, down 0.43%.
ETH may climb 15% to retest its 61.8% Fibonacci retracement level at $3,530 if $3,076 holds.
Ethereum price should finish over $3,530 if positive mood continues and the cryptocurrency market outlook stays upbeat, extending its 5.3% surge to challenge its June 9 daily top of $3,721.
If Ethereum's daily candlestick finishes below $2,817, marking a lower bottom, it may indicate negative sentiment. Ethereum's price might drop 7% to $2,621
Ripple price hopes to increase after closing over $0.643.
Ripple rose 5% this week after retesting daily support at $0.544. It fell 0.7% to $0.597
If XRP closes over $0.643, it might rise 13.3% to $0.724, its next daily resistance level.
If Ripple's daily candlestick finishes below $0.510, it suggests continuous negative sentiment and a lower bottom. An 18% drop in Ripple's price might bring it back to its weekly support around $0.413.
