Bitcoin, Ethereum, and Ripple Show Signs of Extended Corrections Amid Bearish Technical Setups
The cryptocurrency market enters Friday’s session with increasing caution as Bitcoin slips under critical support, while Ethereum and XRP struggle to maintain momentum, signaling possible further losses ahead.
🔴 Bitcoin (BTC) Forecast: Correction Deepens, $100K in Sight?
BTC/USD is under pressure after closing below the pivotal $106,400 support level. The breakdown comes after a multi-day pullback, with Bitcoin now hovering around $105,600—raising the probability of a deeper move toward the psychologically significant $100,000 zone.
📉 Key Indicators:
- RSI drops to 54 and points downward—momentum is fading.
- MACD shows a bearish crossover with red bars rising below zero.
Unless bulls regain control and push BTC back above recent highs, a deeper retracement remains the dominant scenario. However, a recovery above $106,400 could reignite momentum toward the $120,000 target.
🟠 Ethereum (ETH) Outlook: Bulls Lose Steam Below $2,724
Ethereum price action remains fragile after failing to break above the $2,724 resistance. Currently trading near $2,600, ETH risks slipping further if it loses support at the 200-day EMA ($2,455).
📉 Technical View:
- RSI rejected from overbought territory (70), now reading 64.
- MACD also confirms a bearish crossover, suggesting trend weakness.
A decisive break below the 50-day EMA at $2,277 could trigger another selloff. On the upside, reclaiming $2,724 would re-open the path to the key $3,000 psychological level.
🟡 Ripple (XRP) Price Forecast: Bearish Pressure Builds Below $2.29
Ripple continues its downward slide after closing below its 50-day EMA ($2.29) earlier this week. Currently trading near $2.21, XRP faces a potential drop toward the $1.96 support level.
📉 Bearish Signals:
- RSI reads 41, firmly below the neutral 50 level.
- MACD displays a bearish crossover, confirming bearish momentum.
Unless XRP can reclaim the 50-day EMA, sellers could dominate and push prices toward lower support zones. Only a strong daily close above $2.29 may restore short-term bullish sentiment.
🔎 Final Take: Correction Phase May Deepen Without Catalyst
All three major cryptos—BTC, ETH, and XRP—are trading under pressure as technical signals flash red. With risk sentiment cooling and the US Dollar recovering slightly, traders are eyeing Friday’s Core PCE inflation report for clues on the Federal Reserve’s next policy move, which could significantly sway market direction into the weekend.
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