Crypto Market Faces Heavy Selling Pressure as BTC Drops Below $90K
The cryptocurrency market took a sharp downturn, with Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) suffering major losses. After weeks of consolidation, BTC plunged below $94,000, dragging the broader market lower. Ethereum and XRP followed suit, dropping nearly 11% and 12%, respectively.
With key support levels being tested, traders are watching closely to see if bears will push prices lower or if a rebound is on the horizon.
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Bitcoin (BTC) Price Forecast: Is $85,000 the Next Target?
📊 Key BTC Levels to Watch
✅ Resistance: $91,552 (recent closing level), $94,000 (major resistance), $100,000 (psychological barrier)
✅ Support: $86,050 (recent low), $85,000 (next downside target)
After breaking below $94,000, Bitcoin (BTC) dropped to a low of $86,050 before recovering slightly to $88,500 on Wednesday. The Relative Strength Index (RSI) sits at 29, deep in oversold territory, signaling a potential short-term bounce.
🔸 Bearish Outlook:
- If BTC breaks below $86,050, a move toward $85,000 is likely.
- Continued selling pressure could open the door for a deeper decline.
🔹 Bullish Outlook:
- A bounce above $94,000 could signal recovery, with a potential retest of the $100,000 level.
Ethereum (ETH) Price Outlook: Holding Above $2,359 or Breaking Lower?
📊 Key ETH Levels to Watch
✅ Resistance: $2,486 (current level), $2,839 (Monday high)
✅ Support: $2,359 (critical daily support), $2,125 (February 3 low)
Ethereum (ETH) declined nearly 11%, testing its daily support at $2,359. As of Wednesday, ETH is trading near $2,486, struggling to hold gains.
🔸 Bearish Outlook:
- If ETH closes below $2,359, it could slide further to $2,125.
- RSI at 36 signals continued bearish momentum.
🔹 Bullish Outlook:
- A recovery above $2,839 could reignite bullish momentum.
Ripple (XRP) Price Analysis: Will Support at $1.96 Hold?
📊 Key XRP Levels to Watch
✅ Resistance: $2.29 (current level), $2.72 (major barrier)
✅ Support: $1.96 (next downside target), $2.06 (recent low)
Ripple (XRP) has been one of the biggest losers, dropping 12% this week. It is currently trading around $2.29, struggling to regain momentum.
🔸 Bearish Outlook:
- If XRP fails to break above $2.72, another drop to $1.96 is likely.
- RSI at 36 signals continued downside pressure.
🔹 Bullish Outlook:
- A close above $2.72 could see XRP rally toward its January high of $3.40.
Conclusion – Will Crypto Markets Stabilize or Extend Losses?
💡 Market Outlook:
✅ Bitcoin must hold above $86,050 to avoid a slide toward $85,000.
✅ Ethereum needs to stay above $2,359 to prevent further losses.
✅ XRP must reclaim $2.72 for a chance at a rebound.
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