Predicted prices for the top 3 cryptocurrencies: BTC, ETH, and XRP bounce back as the downward momentum weakens.

The price of Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) has recorded stable signals again in the trading session on Friday, as the wave of strong volatility over the past week gradually calms down. The three leading cryptocurrencies continue to maintain above important support zones, amidst indicators showing that the selling pressure is weakening and a bounce back signal may soon appear in the coming days.

Bitcoin shows initial bounce back signals

The price of Bitcoin faced strong resistance at the (EMA) 50-day moving average around the level of 113,329 USD on Tuesday, leading to a decrease of 2.81% in the subsequent session. However, this cryptocurrency quickly found buying support at the 61.8% Fibonacci retracement level – calculated from the April low of 74,508 USD to the all-time high of 126,199 USD – at 106,453 USD, before bouncing back 2.33% on Thursday.

As of the time of writing on Friday, BTC is trading above 110,400 USD, approaching the previously broken upward trend line. If Bitcoin can break out and close a candle back above this trend line, the upward momentum may extend towards the 50-day EMA at 113,329 USD. A decisive breakout above this zone will open up the opportunity to conquer the 78.6% Fibonacci retracement level around 115,137 USD.

On the daily chart, the RSI indicator is at 45 and trending upwards, indicating that selling pressure is weakening. To confirm the recovery trend, the RSI needs to surpass the 50 mark – an important neutral threshold. Additionally, the MACD lines are in the process of converging and may soon form a bullish cross, adding momentum to the recovery scenario.

On the contrary, if Bitcoin closes below 106,453 USD, selling pressure may return, dragging the price back to the support zone of 102,000 USD, corresponding to the low of October 10.

Ethereum shows signs of weakness from the bears

The price of Ethereum fell more than 4% last week after being rejected at the important resistance zone of 4,232 USD on the daily chart. In the first half of this week, ETH continued to adjust by an additional 5.11%, but recorded a slight bounce back on Thursday. As of the time of writing on Friday, ETH is showing signs of recovery, currently trading above the 3,800 USD mark.

If this upward momentum is maintained, Ethereum may aim to retest the resistance zone of 4,232 USD – a price level that previously halted the upward trend.

Similar to Bitcoin, technical indicators such as RSI and MACD show that selling pressure is weakening, opening up the possibility of a bounce back in the short term. However, in a negative scenario, if ETH reverses and declines, the price could retreat to the Fibonacci retracement zone of 61.8% around 3,593 USD – coinciding with the 200-day EMA, which is considered a strong support zone.

XRP bounce back from the support zone 2.35 USD

XRP started the week with excitement, rising 4.35% and closing above the resistance zone of 2.35 USD on Monday. However, this upward momentum was quickly challenged as prices declined consecutively over the next two days, wiping out previous gains and returning to test the level of 2.35 USD. Here, buying pressure emerged, helping XRP bounce back slightly on Thursday, before continuing to maintain a green trend and trading above 2.40 USD during Friday's session.

If the current bounce back trend is solidified, XRP may extend its upward momentum towards the 50-day EMA around the 2.69 USD zone. Similar to Bitcoin and Ethereum, technical indicators such as RSI and MACD are showing that selling pressure is weakening, opening up the possibility of a short-term recovery.

On the contrary, if XRP cannot maintain the support zone of 2.35 USD and closes a candle below this level, the price could retreat deeply to the next support zone around 1.96 USD.

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