Technical analysis: BTC, ETH, and XRP face downward pressure with potential for deeper corrections

The cryptocurrency market continues to be under pressure, with Bitcoin, Ethereum, and Ripple showing clear signs of weakness. As momentum indicators turn bearish on these three main assets, traders should pay attention to critical support levels that could trigger more significant downward movements.

Bitcoin at $87,300: Watch on the support at $85,569

Bitcoin is currently trading around $87,300 but faces a delicate technical scenario. The price was rejected at the descending trendline formed by several highs since early October and has retreated approximately 7% since then. The critical support level at $85,569 coincides with the 78.6% Fibonacci retracement, giving it additional significance.

If Bitcoin closes below $85,569, the decline could extend significantly toward the psychological level of $80,000. The daily Relative Strength Index (RSI) stands at 40, clearly below the neutral level of 50, indicating strengthening bearish momentum. Additionally, the MACD indicator is approaching a possible bearish crossover, which could confirm a more pronounced negative trend.

If Bitcoin manages to rebound, resistance would be at the 61.8% Fibonacci retracement, approximately $94,253. With recent quotes placing BTC at 90.69K, there is still room before reaching this bullish target.

Ethereum under pressure: 11% decline with negative MACD signals

Ethereum has shown considerable weakness, with an 11% retracement since December 10. The 50-day exponential moving average (EMA) at $3,249 has become resistance that the price has failed to break. Currently trading near $3.11K, Ethereum is about $138 below this important average.

The technical situation worsens as the daily RSI is at 41, clearly indicating bearish momentum. The MACD indicator confirmed a negative crossover on Wednesday, reinforcing negative prospects. If the retracement continues, the next support level is at $2,749, representing an additional decline of approximately 3.8% from current levels.

If Ethereum manages to recover, the first target would be to regain the $3,249 level of the 50-day EMA. Traders should carefully monitor these levels to identify potential rebound opportunities or confirmation of the negative trend.

XRP targets $1.77 with key support break

XRP has experienced two consecutive weeks of declines, down 3.22%, and faced its most critical test by breaking the daily support at $1.96 on Monday. The current price around $2.05 reflects a slight recovery on Tuesday, but the break of the previous level suggests structural vulnerability.

If deterioration continues, XRP could fall to the next support at $1.77. The RSI at 37 is deep in oversold territory, confirming bearish momentum. Additionally, the MACD showed a negative crossover on Sunday that remains in effect, supporting the outlook for further declines.

The first resistance point in case of recovery is at $1.96, the broken support that could act as short-term resistance. With a 2.14% decline in the last 24 hours according to recent data, XRP maintains its negative trend within the broader context of downward pressure.

Conclusion: mandatory monitoring of critical supports

The three main cryptocurrencies show synchronization in their technical weakness, with bearish RSIs, negative MACD crossovers, and breaks of key supports. Bitcoin at $87,300, Ethereum at $3.11K, and XRP at $2.05 are all positioned above supports that, if broken, could trigger more pronounced corrections. Momentum indicators are clearly in bearish territory, suggesting the market could experience additional pressure before finding stability.