Ethereum consolidates around $3,500, Bitcoin struggles at $70,000, XRP faces challenges.

From Investing.com: 2024-06-13 02:00:25

Ethereum’s price has been consolidating around $3,500 after hitting resistance at $3,800, surprising traders and signaling potential future performance. Possible factors for the decline include liquidity issues, market indecision and global financial trends. Technical indicators show a significant sell-off, but fundamentals remain strong.

Bitcoin struggles to surpass $70,000 due to lack of buying interest, institutional behavior changes and absence of strong fundamental drivers. Diminished institutional support weakens Bitcoin’s potential price, hindering significant price movement. Technical indicators show neutral RSI, adding to market indecisiveness.

XRP faces significant challenges as it loses key support levels like the 50 EMA and $0.5, raising concerns about reaching the yearly low of $0.44. The asset’s downtrend, absence of purchasing power and unfavorable market conditions contribute to its decline. Technical indicators point to a potential bearish trend toward the annual low.

Read more at Investing.com: Ethereum (ETH) in Critical State, Here’s Why Bitcoin (BTC) Can’t Reach $70,000, Will XRP Reach All-Time Low? By U.Today