Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin volatility surges amid impact of US CPI data

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• 
  Bitcoin
  price
  finds
  resistance
  around
  the
  weekly
  level
  of
  $58,375;
  a
  breakout
  of
  this
  level
  could
  signal
  a
  bullish
  move.
• 
  Ethereum
  finds
  support
  around
  the
  key
  level
  at
  $2,817,
  with
  potential
  recovery
  on
  the
  cards.
• 
  Ripple
  price
  finds
  support
  around
  the
  weekly
  support
  level
  of
  $0.413,
  impending
  rally
  eyed.

Bitcoin
(BTC)
initially
dipped
before
rallying
after
the
release
of
US
CPI
data
on
Wednesday.
Ethereum
(ETH)
and

Ripple
(XRP)
are
possibly
set
to
mirror
BTC’s
pattern,
showcasing
the
synchronized
dance
of
cryptocurrency
markets.

Bitcoin
price
shows
potential 

Bitcoin
has
encountered
resistance
near
the
$58,375
weekly
resistance
throughout
this
week.
As
of
Friday,
BTC
is
trading
at
$57,250,
showing
a
slight
decline
of
0.2%.

Furthermore,
BTC
is
currently
below
a
descending
trendline
formed
by
connecting
multiple
swing
high
levels
from
early
June
to
mid-July.

If
BTC
closes
above
the
weekly
resistance
at
$58,375
and
a
breakthrough
above
the
descending
trendline
could
potentially
lead
to
a
9%
increase,
targeting
a
revisit
of
the
daily
resistance
at
$63,956.

Moreover,
the
daily
chart
shows
a
lower
low
formation
on
July
5,
while
the
Relative
Strength
Index
(RSI)
indicated
a
higher
high
during
the
same
period.
This
bullish
divergence
often
signals
a
trend
reversal
or
a
short-term
rally.

BTC/USDT
daily
chart

Conversely,
if
BTC
closes
below
the
daily
support
level
at
$52,266
and
forms
another
lower
low
in
the
daily
timeframe,
it
could
indicate
continued
bearish
sentiment.
Such
a
scenario
might
trigger
a
4%
decline
in
Bitcoin’s
price,
potentially
revisiting
the
low
of
$50,521
observed
on
February
23.

Ethereum
price
displays
resilience
with
promising
upside

Ethereum’s
price
found
support
on
Monday
at
$2,817,
which
was
its
low
on
May
1.
It
rebounded
by
2.7%
in
the
next
two
days.
As
of
Friday,
it
is
trading
slightly
up
by
0.32%
at
$3,059.

If
Ethereum’s
price
closes
above
the
$3,240
level,
ETH
could
potentially
increase
8.8%,
targeting
a
retest
of
its
daily
high
from
July
1
at
$3,524.

The
Relative
Strength
Index
(RSI)
and
the
Awesome
Oscillator
(AO)
on
the
daily
chart
are
currently
below
their
respective
neutral
levels
of
50
and
zero.
For
bullish
momentum
to
be
sustained,
both

indicators
need
to
rise
above
these
critical
levels,
which
could
support
the
ongoing
recovery
rally.

Furthermore,
surpassing
the
$3,524
level
could
open
the
way
for
an
additional
5.5%
rise,
aiming
to
retest
the
next
daily
high,
recorded
at
$3,717
on
June
9.

ETH/USDT
daily
chart

On
the
other
hand,
if
Ethereum’s
daily
candlestick
closes
below
$2,817,
forming
a
lower
low
in
the
daily
timeframe,
it
may
signal
persistent
bearish
sentiment.
This
scenario
could
potentially
trigger
a
7%
decline
in
Ethereum’s
price,
targeting
a
revisit
of
its
daily
support
at
$2,621.

Ripple
price
eyes
a
rally

Ripple’s
price
found
support
near
the
weekly
mark
of
$0.413
early
this
week,
rebounding
by
4%
over
the
subsequent
two
days.
As
of
Friday,
it
trades
up
by
0.6%
to
trade
at
$0.452.

A
daily
close
above
the
$0.450
threshold
for
XRP
could
potentially
fuel
an
11%
rally,
targeting
a
revisit
of
its
daily
resistance
level
at
$0.499.

On
the
daily
chart,
both
the
Relative
Strength
Index
(RSI)
and
the
Awesome
Oscillator
(AO)
are
currently
positioned
below
their
critical
thresholds
of
50
and
zero,
respectively.
To
maintain
bullish
momentum,
these
indicators
need
to
rise
above
these
levels,
potentially
bolstering
the
ongoing
recovery.

Furthermore,
surpassing
the
$0.499
level
could
pave
the
way
for
an
additional
6.4%
increase,
aiming
to
retest
the
next
daily
high
at
$0.532
recorded
on
June
5.

XRP/USDT
daily
chart

However,
if
Ripple’s
daily

candlestick
closes
below
$0.413,
forming
a
lower
low
in
the
daily
timeframe,
it
indicates
sustained
bearish
sentiment.
Such
a
scenario
could
potentially
lead
to
a
16%
decline
in
Ripple’s
price,
targeting
a
revisit
of
its
low
from
March
12
at
$0.347.

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