Bitcoin, Ethereum, XRP Under Pressure: Technical Breakdown Reveals Deeper Bearish Signals

The cryptocurrency market is facing mounting headwinds as Bitcoin, Ethereum, and XRP all show signs of sustained weakness. With technical indicators flashing red across the board, traders are bracing for potential further downside. Let’s break down what the charts are telling us about each asset.

Bitcoin’s Recent Retreat: A Technical Perspective on Current Market Conditions

Bitcoin has experienced a notable pullback from its recent peaks, with prices now hovering around $87,650. The technical setup suggests the bears maintain control, as evidenced by deteriorating momentum indicators. The Relative Strength Index (RSI) currently sits at depressed levels, well below the neutral midpoint, indicating sustained selling pressure continues to dominate trading activity.

The Moving Average Convergence Divergence (MACD) has displayed a bearish crossover pattern, a classic signal that often precedes further downside movement. From a support and resistance perspective, if Bitcoin fails to hold above $97,460, the path toward the psychological $95,000 level becomes increasingly probable. Conversely, a recovery would need to clear the 38.20% Fibonacci retracement barrier positioned higher up on the chart.

For investors tracking Bitcoin price movements across different regions—whether in USD, NZD, or other currencies—the technical deterioration remains consistent across all timeframes. The latest momentum suggests caution is warranted for the near term.

Ethereum’s Struggle at Key Technical Barriers

Ethereum has declined considerably this week, trading around $2,950 after struggling to maintain ground at higher levels. The second-largest cryptocurrency faced rejection at a previously broken trendline, a pattern that typically confirms a shift in market structure toward sellers.

Support analysis reveals that if Ethereum closes below the $3,170 threshold, the next target would be the daily support cluster around $3,017. The RSI and MACD indicators both echo the bearish sentiment observed in Bitcoin, suggesting a market-wide correction is underway rather than an isolated pullback.

A bounce from current levels would need to overcome the resistance that previously capped upside moves, currently positioned near the 38.20% Fibonacci level. The technical picture remains challenging for bulls at this juncture.

XRP’s Breakdown Below Daily Support Signals Caution

XRP closed the recent session below its primary support zone at $2.35, now trading in the $1.86 range. The breakdown came after the token failed multiple times to clear the 50-day exponential moving average (EMA) sitting around $2.53, a critical level that has served as both support and resistance.

The failure to sustain gains above this moving average on multiple occasions points to concentrated selling interest at those levels. Should XRP weakness persist, the next support cluster appears around $1.96, representing further downside potential. The RSI reading reflects bearish momentum, though the MACD shows some trader indecision, suggesting potential consolidation before the next directional move.

A recovery would require decisive movement above the 50-day EMA to restore bullish sentiment and potentially reverse the near-term bearish narrative.

Key Takeaway: Market-Wide Caution Warranted

The technical deterioration visible across Bitcoin, Ethereum, and XRP suggests this week’s selloff has genuine technical backing rather than representing a temporary blip. With multiple indicators flashing warning signals and key support levels at risk, traders should maintain defensive positioning until the technical damage shows signs of repair.