BTC, ETH, and XRP Show Weakness as Key Support Levels Come Under Pressure
The cryptocurrency market is struggling to maintain upward momentum, with Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) facing strong resistance levels. Bitcoin has been consolidating between $94,000 and $100,000 since early February, while Ethereum and XRP show bearish signals in momentum indicators, raising concerns of a potential downturn.
With key support and resistance levels in focus, traders are watching for confirmation of either a breakout or deeper correction across the crypto market.
📢 Stay updated with live crypto insights on DailyForex.pk
Bitcoin (BTC) Price Forecast: Holding Above $94,000 or Facing a Drop?
📊 Key BTC Levels to Watch
✅ Resistance: $100,000 (Upper boundary of consolidation)
✅ Support: $94,000 (Crucial level for maintaining current range)
✅ Bearish Target: $90,000 (Psychological support if breakdown occurs)
Bitcoin (BTC) continues to trade in a tight range between $94,000 and $100,000, failing to establish a clear trend. As of Monday, BTC is hovering around $95,600, slightly down from last week.
🔸 Bearish Outlook:
- If BTC closes below $94,000, it could trigger a decline toward $90,000, a psychologically significant level.
- RSI at 43 indicates growing bearish momentum, while the MACD shows indecision, signaling uncertainty among traders.
🔹 Bullish Outlook:
- A break above $100,000 would confirm bullish momentum, setting up a retest of the January 30 high at $106,457.
Ethereum (ETH) Price Outlook: Momentum Weakens Below $3,000
📊 Key ETH Levels to Watch
✅ Resistance: $3,000 (Psychological barrier)
✅ Support: $2,359 (Next major daily support)
✅ Bearish Target: Below $2,300 (If selling pressure intensifies)
Ethereum (ETH) saw a 6% recovery last week, but weakness emerged on Monday, with ETH trading around $2,754 at press time.
🔸 Bearish Outlook:
- If ETH continues to decline, the next target is $2,359, a key support zone.
- RSI at 46 shows weakness, having faced rejection from the neutral 50 level, confirming bearish momentum.
🔹 Bullish Outlook:
- If Ethereum finds support and breaks above $3,000, it could trigger a fresh rally.
Ripple (XRP) Price Analysis: Rejected at $2.72, What’s Next?
📊 Key XRP Levels to Watch
✅ Resistance: $2.72 (Critical level)
✅ Support: $1.96 (Next downside target)
✅ Bearish Target: $1.75 (Extended correction level)
Ripple (XRP) fell 5.57% last week, failing to break past resistance at $2.72. At press time, XRP is trading at $2.49, continuing its downward trend.
🔸 Bearish Outlook:
- If XRP remains below $2.72, a move toward $1.96 is likely.
- RSI at 42 shows bearish momentum, while MACD reflects market indecision, similar to Bitcoin.
🔹 Bullish Outlook:
- A close above $2.72 could fuel a rally toward $3.40, its January 16 high.
Conclusion – Will Crypto Markets Hold Key Support Levels?
💡 Market Outlook:
✅ If Bitcoin closes below $94,000, a decline toward $90,000 is likely.
✅ Ethereum needs to hold above $2,359 to avoid further downside.
✅ XRP remains weak unless it reclaims $2.72 as support.
📢 For daily cryptocurrency forecasts, visit DailyForex.pk