Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP bears remain in control, hinting at deeper correction
- Bitcoin price trades near the lower consolidation boundary on Monday after facing rejection from the 50-day EMA the previous day.
- Ethereum price steadies around $1,946 after being rejected by the upper consolidation boundary.
- XRP remains locked inside a descending parallel channel, keeping the broader near-term bias bearish despite the latest bounce.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) prices struggle on Monday, with key resistances holding firm across these top three cryptocurrencies. BTC trades near the lower boundary of its consolidation range, ETH struggles below key resistance, while XRP continues to move within a descending parallel channel. The broader near-term outlook remains tilted to the downside amid ongoing geopolitical tensions, keeping the door open for further losses in the upcoming days.
Bitcoin faces rejection from the 50-day EMA
Bitcoin price is trading at $66,300 as of Monday. The near-term bias stays mildly bearish as price holds within a parallel channel, trading closer to the lower boundary after failing to sustain above the $70,000 area. The Crypto King remains well below the 50- and 100-day Exponential Moving Averages (EMAs), which continue to slope lower and cap the broader trend, underscoring downside pressure.
The Relative Strength Index (RSI) on the daily chart near 42 stays below the 50 midline, reflecting subdued bullish momentum after last week’s rebound. The Moving Average Convergence Divergence (MACD) indicator shows the MACD line above the signal line, but both are still near the zero region with a contracting histogram, suggesting fading upside momentum within a corrective downtrend.
Initial resistance emerges near the upper band of the channel around $72,000, where recent attempts higher stalled, followed by a more structural barrier at the descending 50-day EMA near $73,200. A daily close above that EMA would open the way toward the 100-day EMA clustered closer to $80,000, where the broader bearish structure would be challenged.
On the downside, immediate support aligns with the channel floor near $65,100, with a break lower exposing the horizontal support at $60,000. A sustained move below $60,000 would confirm an extension of the prevailing bearish phase, while holding above the channel base keeps scope for another corrective bounce within the broader downtrend.
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Ethereum’s upper channel caps recovery
Ethereum price is trading around $1,946 on Monday. The near-term bias stays mildly bearish as price holds well below the 50- and 100-day EMAs, while remaining confined within a channel capped near $2,148.
The RSI on the daily chart at 43 drifts under the 50 line, indicating subdued bullish momentum after the late-February rebound faded. The MACD indicator softens, with the MACD line losing altitude after its recent positive spell, hinting at easing upside pressure within an overall corrective structure.
Immediate resistance emerges around $2,027–$2,050, ahead of the channel top at $2,148, where the 23.6% Fibonacci retracement of the $3,402–$1,747 decline at $2,138 reinforces an important supply area. A daily close above this confluence would weaken the bearish pattern and expose the 38.2% retracement at $2,380.
On the downside, initial support is seen near the recent reaction low at $1,856, followed by the channel floor close to $1,750, which aligns with the 0.00% Fibonacci level and protects the broader base of the decline. A breakdown through that zone would signal trend deterioration and open the way for a deeper leg lower within the prevailing downtrend.
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XRP remains locked inside a descending parallel channel
XRP price trades at $1.34 as of Monday, remains locked inside a descending parallel channel from above $2.80, keeping the broader near-term bias bearish despite the latest bounce from the lower boundary near $1.20. Price holds well below the grouped 50-day and 100-day EMAs, which continue to slope lower and cap the upside.
Momentum is stabilizing rather than reversing, with the RSI hovering around the low-40s and the MACD line slipping toward the signal line while both stay just above the zero mark, hinting at fading bullish pressure within a dominant downtrend.
Immediate support is located at the horizontal level around $1.30, which aligns with the lower half of the descending channel and underpins the recent rebound. A clear break below this area would expose the channel floor near $1.20, where buyers have previously emerged.
On the topside, initial resistance comes from the mid-channel region around $1.50, ahead of stronger confluence near $1.90, where the channel’s upper boundary and a prior horizontal resistance coincide. As long as price trades below $1.50 and remains capped by the falling exponential averages, rallies are vulnerable to renewed selling that pushes price toward $1.30.
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(The technical analysis of this story was written with the help of an AI tool.)
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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