Top 3 Bitcoin, Ethereum, Ripple Price Predictions: Bitcoin Falls Below $60,000

• Bitcoin Price Approaches $58,700 Level; a close lower could continue its downward move.
• Ethereum price drops below the uptrend line, signaling a bearish trend ahead.
• Ripple price retests its 200-day EMA at $0.551; a slip lower would suggest a bearish move on the horizon.

Bitcoin (BTC) and Ripple (XRP) prices approach key support level; closing below may signal a continuation of its downtrend. Ethereum (ETH) price has breached its uptrend line, indicating a potential bearish reversal.

Bitcoin price is poised to drop after a close below the $58,700 level

Bitcoin price bounced around the daily resistance level at $65,379 on Sunday, down 7.5% over the next two days. On Wednesday, it continued to trade slightly lower by 0.1% at $59,368.

If BTC continues to decline and close below the $58,783 level, it could further decline by 4.5% to retest the daily support at $56,002.

The Relative Strength Index (RSI) on the daily chart has dropped below its neutral level of 50, and the Awesome Oscillator (AO) is about to close below its neutral level of zero. If both indicators need to trade below their neutral levels, this suggests weak momentum and an imminent bearish trend.

BTC/USDT Daily Chart

However, if Bitcoin price finds support around $58,783 and closes above it, the bearish thesis will be invalidated and BTC could rise 11% to review its daily resistance level at $65,379.

Ethereum price is experiencing a decline after breaking the trend line

Ethereum price is finding resistance around the 50% price retracement level at $2,843, which roughly coincides with the daily resistance level at $2,927 and the 50-day exponential moving average (EMA) at $2,869 on Saturday. It fell 11% over the next three days. At time of writing on Wednesday, it is trading slightly up 0.6% at $2,469.

If ETH pulls back and retests its broken uptrend line at $2,619, it could continue to fall 6% to retest the August 8 low of $2,327.

On the daily chart, the RSI and AO are trading below their neutral levels of 50 and zero, respectively, suggesting an imminent bearish trend.

ETH/USDT Daily Chart

On the other hand, if ETH breaks the $2,843 level and closes above the daily resistance at $2,927, forming a higher high on the daily chart. This would invalidate the bearish thesis and it could rise 11% to retest the weekly resistance level at $3,236.

Ripple price is set for a decline if it closes below the 200-day EMA

Ripple price retested and was rejected by its daily resistance level at $0.626 on Saturday. It fell 7.75% in the next three days and revised its 200-day EMA at $0.551. On Wednesday, it traded slightly higher by 0.2% to $0.567.

If Ripple price continues to decline and close below the 200-day EMA at $0.551, it could fall 10% from the current trading level of $0.567 to retest the August 7 low of $0.492.

The RSI on the daily chart has dropped below its neutral level of 50 and the AO is about to close below its neutral level of zero. For bearish momentum to be sustained, both indicators must trade below their neutral levels for the ongoing bearish trend.

XRP/USDT Daily Chart

However, if Ripple price closes above the daily resistance level of $0.626, it would change the structure of the market by creating a higher high on the daily chart, which may lead to a 5.3% increase to revise the high of 31 July of $0.658.