Bitcoin, Ethereum, Ripple: Above declining trendline
Sunday's bitcoin price breach above the falling trendline suggests bullish momentum.
Ethereum's price breaks $3,240, changing market structure from bearish to bullish.
Ripple's price breaks daily barrier at 0.499 on Saturday, suggesting a positive trend.
Bitcoin (BTC) broke its declining trendline on Sunday, indicating bullish momentum. At the same moment, Ethereum (ETH) and Ripple (XRP) broke past their significant resistance levels, launching bullish trends.
Bitcoin price rises after trendline breach.
Bitcoin traded 1% higher at $61,365 on Monday after breaking the declining trendline on Sunday. Multiple swing highs from early June to mid-July constitute the trendline.
If the trendline maintains as pullback support at $58,357, the weekly support level, BTC might climb 9% to $63,956, its daily resistance level.
BTC closing below $56,405 and making a lower daily low may indicate pessimistic sentiment. Bitcoin's price might drop 7.5% to $52,266, its daily support.
Ethereum price may rise further.
Ethereum broke over $3,240 on Sunday and is up 0.87% at $3,275 on Monday.
ETH may rise 8.8% to retest its July 1 daily high of $3,524, if $3,240 holds.
If bulls are aggressive and the crypto market outlook is optimistic, ETH may increase 5.5% to revisit its June 9 daily high of $3,717.
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, its daily support.
Bulls like Ripple pricing.
Ripple price breached $0.499 daily barrier on Saturday. It confronts resistance at the June 5 daily high of $0.532. The current price is $0.528, up 1.7%.
Surpassing $0.574 might lead to a 12% surge to retest the April 9 daily high of $0.643.
If Ripple's daily candlestick finishes below $0.413, it suggests continuous negative sentiment and a lower bottom. A 16% drop in Ripple's price may bring it back to its March 12 low of $0.347.
