Top 3 Price Predictions: Bitcoin, Ethereum, Ripple – BTC tests critical support, ETH struggles below resistance, XRP extends losses
- Bitcoin slides to the key 200-day EMA around $76,466 on Wednesday, with a decisive close below, suggesting deeper losses.
- Ethereum remains under pressure, trading near $2,255 after failing to secure a close above a key resistance zone.
- XRP trades below $1.25, facing rejection from the upper trendline of the falling channel pattern.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) remain under pressure on Wednesday as bearish momentum continues to weigh on prices. BTC approaches key support around $76,466, and a decisive close below could open the door to deeper losses. Meanwhile, ETH struggles below key resistance while XRP faces rejection at the upper trendline of a falling channel pattern, all hinting at deeper losses.
Bitcoin could extend deeper correction if it closes below 200-day EMA
Bitcoin price trades at $76,664 on Wednesday, maintaining a bearish near-term bias as it holds just above the 200-day Exponential Moving Average (EMA) at $76,466 but remains capped by the 100-day EMA at $77,770.
The 50-day EMA near $79,997 reinforces a topside cap, while the Relative Strength Index (RSI) around 35 hints at waning downside pressure without a clear recovery signal. The Moving Average Convergence Divergence (MACD) stays below zero with a negative reading suggesting that bearish momentum still dominates despite the tentative stabilization over the 200-day EMA.
On the topside, initial resistance is seen at the 100-day EMA at $77,770, followed by the 50-day EMA around $79,997, with a more significant hurdle at the horizontal barrier near $85,000.
On the downside, immediate support is provided by the 200-day EMA at $76,466; a decisive break below this zone would likely expose BTC to deeper corrective pressure in the coming sessions.
Ethereum fails to close above key resistance
Ethereum price trades at $2,255 on Wednesday, keeping a bearish near-term tone as it holds below the 200-day and 100-day EMAs at $2,315 and $2,349. ETH has also slipped below the broken rising trendline, now acting as resistance near $2,399. Meanwhile, the RSI at 34 remains near oversold territory, and the MACD stays negative, suggesting lingering downside pressure despite a slowdown in bearish momentum.
On the topside, initial resistance aligns at the 200-day EMA at $2,315, followed by the 100-day EMA at $2,349 and the former trendline barrier around $2,399, with a nearby horizontal cap at $2,400; a stronger recovery would face the 50-day EMA at $2,404 before the higher ceiling at $2,770.
On the downside, the key structural floor is the horizontal support zone around $1,824, where buyers would be expected to show more interest if the current decline extends.
XRP holds a bearish outlook
XRP trades at $1.254 on Wednesday, maintaining a bearish near-term bias as it holds below the key EMAs. The 50-day EMA at $1.334, the 100-day EMA at $1.323 and the 200-day EMA at $1.377 all sit overhead as layered resistance, reinforcing the downside tone while price remains capped beneath the prior downward trendline break at $1.275.
Momentum is soft, with the RSI hovering around 39 and the MACD marginally negative, suggesting selling pressure still dominates, even if immediate downside follow-through is not aggressive.
On the topside, initial resistance appears at the former trendline break around $1.275, followed by the horizontal barrier at $1.300, then the clustered EMAs at $1.323 and $1.334, and the higher ceiling at $1.377, which deepens the broader corrective structure. A more substantial recovery would likely face further supply near $1.540 and $1.900.
On the downside, support appears first at $1.160, with a deeper floor at $1.000, and a sustained break below these levels would open the door to a more pronounced bearish extension in the coming sessions.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Cryptocurrency prices FAQs
Token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.
A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platform via exploits, bugs or other methods. The exploiter then transfers these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets.
Macroeconomic events like the US Federal Reserve’s decision on interest rates influence crypto assets mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.
Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs.
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