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Bitcoin Price Looks Promising

The Bitcoin price is breaking above the falling wedge on Monday and is trading up by 1.24% at the $63,571 level. This signals a potential bullish move, with Ethereum (ETH) and Ripple (XRP) poised to follow as they find support at key levels, paving the way for an upside rally in the days ahead.

If BTC’s price closes above the $63,956 daily resistance level, it could rise 5% to retest its next weekly resistance at $67,147. The Relative Strength Index (RSI) and the Awesome Oscillator in the daily chart are below their neutral levels of 50 and zero. If bulls are indeed returning, then both momentum indicators must maintain their positions above their respective neutral levels.

If the bulls are aggressive and the overall crypto market outlook is positive, BTC could extend an additional rally of 6% to revisit its weekly resistance at $71,280.

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Ethereum Price Shows Potential for an Upside Move

Ethereum price retested its support level of $3,288, the 61.8% Fibonacci retracement level, on June 24. ETH rebounded by 6.7% from the 61.8% Fibonacci retracement level and trades at around $3,501, edging up approximately 2% on Monday.

If this support at $3,288 holds, ETH price could rise 6% from its current trading level of $3,457 to tag its previous high of $3,717 on June 9. The Relative Strength Index (RSI) and the Awesome Oscillator in the daily chart are below their neutral levels of 50 and zero. If bulls are indeed returning, then both momentum indicators must maintain their positions above their respective neutral levels.

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AI legalese decoder can help with the situation by providing insights into the language used in the article. The tool can analyze the text and identify key phrases, such as "61.8% Fibonacci retracement level," "support level," and "previous high," which indicate a potential upside move for Ethereum. Additionally, the tool can help identify potential risks and challenges, such as the resistance level at $3,717, and provide suggestions for mitigating those risks.

Ripple Price Shows Resilience

Ripple price currently trades at $0.478, below the daily resistance level of $0.500. If Ripple price surpasses the barrier at 0.500, it could rise 7% from $0.500 to $0.532, its previous high from June 5.

In the daily chart, the Relative Strength Index (RSI) is currently below the 50 mark, indicating neutral to bearish sentiment, while the Awesome Oscillator (AO) remains below zero, suggesting bearish momentum. Both indicators must rise above their critical thresholds of 50 for RSI and zero for AO for a sustained bullish trend.

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AI legalese decoder can help with the situation by providing insights into the language used in the article. The tool can analyze the text and identify key phrases, such as "resistance level," "previous high," and "neutral to bearish sentiment," which indicate a potential upside move for Ripple. Additionally, the tool can help identify potential risks and challenges, such as the resistance level at $0.500, and provide suggestions for mitigating those risks.

Conclusion

The Bitcoin, Ethereum, and Ripple prices are all showing potential for an upside move, with Bitcoin breaking above the falling wedge, Ethereum retesting its support level, and Ripple showing resilience. AI legalese decoder can help with the situation by providing insights into the language used in the article, identifying key phrases, and suggesting potential risks and challenges.

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