1. Bitcoin ($BTC )
Current Price: US$62,254.46
Last Move: Down almost 6% in the last one week.
Level Support dan Resistance:
Support: US$61.868, US$60.000
Resistance: US$65.292
Analysis: Bitcoin is in a critical position. If it manages to hold the support level at US$61,868, there is a chance to recover the losses and rise above US$65,000. However, if it fails, the risk of a decline towards US$60,000 and increasing selling pressure is greater.
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Ethereum ($ETH )
Current Price: US$2,378
Recent Move: Down 9.6% in the past week, bouncing off support at $2,313.
Level Support dan Resistance:
Support: US$2,313, with the 23.6% Fibonacci Retracement target as new support.
Resistance: Not specifically mentioned, but a recovery area above US$2,378 is expected.
Analysis: Ethereum shows a sharper decline than Bitcoin. If the price falls below $2,313, the bullish outlook will be invalidated and could be threatened to fall to $2,223. On the other hand, if it can turn the 23.6% Fibonacci level into support, a potential recovery could occur in the next few days.
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RIPPLE ($XRP )
Current Price: Around US$0.52 (from a low of US$0.52)
Recent Moves: Down 18% in the last four days.
Level Support dan Resistance:
Support: US$0,52 (garis Fibonacci 38,2%)
Resistance: US$0,55 (garis Fibonacci 50%)
Analysis: XRP is facing a significant downturn but is holding above the critical support level at $0.52. If it manages to bounce off this level, there is potential for a rally towards the resistance level at $0.55. However, if it fails to break through this level, XRP could enter a consolidation phase, invalidating the bullish outlook and delaying further recovery.
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Summary and Conclusion
The crypto market is currently facing pressure from gloomy macroeconomic conditions. Bitcoin, Ethereum, and XRP are showing different behaviors, but all are in critical positions where their respective support levels will greatly determine the direction of future price movements.
Bitcoin needs support at $61,868 to maintain bullish momentum, while Ethereum needs to hold at $2,313 to avoid further declines. XRP shows potential for a rebound if it stays above $0.52 but needs to break through $0.55 to regain momentum.
Investors are advised to continue to monitor market developments and news related to regulations and macroeconomic conditions that can affect market sentiment.
this is an analysis from a beginner in the crypto world stay motivated with your analysis,
