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- Bitcoin closes below the 50-day EMA at $64,938, suggesting weakness and increasing downside risk.
- Ethereum approaches the 100-day EMA at $1,935, where a rejection could trigger a fresh corrective move.
- XRP drifts toward the crucial $1.00 support as bearish momentum indicators point to further losses.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) remain under pressure on Wednesday after a mild correction earlier this week. BTC slips below a key support zone, and ETH is testing a key resistance zone. Meanwhile, XRP is drifting toward the psychologically important $1.00 support level. The technical indicators of the top three cryptocurrencies suggest that sellers are gaining control, raising the risk of further downside.
Bitcoin slips below key support zone
Bitcoin price trades at $63,734 on Wednesday, maintaining a bearish near-term tone as it holds below the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), clustered between roughly $64,938 and $73,658.
The Relative Strength Index (RSI) at about 47 stays slightly below the neutral midline. At the same time, the Moving Average Convergence Divergence (MACD) has slipped deeper into negative territory, suggesting that upside attempts remain vulnerable while the pair trades under these moving averages.
On the topside, immediate resistance emerges at the nearby horizontal barrier around $64,004, ahead of the 50-day EMA at roughly $64,938. Above this zone, the 100-day EMA near $67,606 and the 200-day EMA around $73,658 form successive caps before the higher horizontal resistance level at approximately $84,410, which marks a more distant ceiling if buyers regain stronger control.
On the downside, the lack of nearby supports leaves the current trading zone as an exposed foothold. If BTC continues its correction, it could extend toward the yearly low of $57,800, set on July 1.
Ethereum nears key resistance zone
Ethereum price trades at $1,907 on Wednesday, holding a neutral to slightly constructive stance as it remains above the 50-day EMA at roughly $1,845 but still trades beneath the 100-day EMA near $1,935 and the 200-day EMA around $2,177. This configuration suggests a market attempting to base above short-term trend support while facing a capped medium-term structure, with the RSI hovering in neutral-positive territory near 56 and the Moving Average Convergence Divergence (MACD) slipping marginally below the signal line, hinting at waning upside momentum rather than a decisive bearish reversal.
On the topside, initial resistance emerges at the 100-day EMA around $1,935, ahead of the psychological and chart barrier at $2,000 and then the broader bearish pivot defined by the 200-day EMA near $2,177.
On the downside, immediate support is reinforced by the 50-day EMA at around $1,845. At the same time, a deeper pullback would expose the more distant horizontal floor near $1,385, keeping the near-term outlook range-bound unless price can either convincingly reclaim the 100-day EMA or slide back through the 50-day EMA.
XRP’s momentum indicators show bearish bias
XRP price trades at $1.07 on Wednesday, maintaining a bearish near-term bias as it holds below the 50-day, 100-day, and 200-day EMAs, clustered between roughly $1.13 and $1.41. The RSI at about 43 stays in neutral-to-weak territory and the MACD indicator remains marginally negative, together suggesting that downside pressure persists while any recovery lacks strong momentum.
On the topside, initial resistance emerges at the 50-day EMA around $1.13, followed by the 100-day EMA near $1.22 and the horizontal barrier at $1.30, with a more distant cap at the 200-day EMA around $1.41 before the major resistance line at $1.90.
On the downside, the next key support is the horizontal level at $1.00, where buyers may attempt to stem further declines if the pair extends its slide.
