Bitcoin Ethereum and Ripple show increasing bearish momentum

Bitcoin, Ethereum, and Ripple started the week near key levels after a slight correction last week. The largest cryptocurrencies by market capitalization are showing increasing bearish momentum, and technical indicators point to a growing risk of further decline. Traders are keeping a close eye on support zones to assess whether the market is likely to stabilize or whether the correction will continue.

Last week, the price of Bitcoin BTC $90,456.56 Mezo Wrapped BTC 0.08% Market capitalization $51.34 million VOL. 24 hours $0.27 billion failed to gain a foothold above the downtrend line drawn through local highs from early October. This line coincides with the 61.8% Fibonacci retracement level of $ 94,253, which makes it an important resistance zone. As of Monday, BTC was trading near $ 89,000. If the decline continues, the next significant support will be $ 85,569, which corresponds to the 78.6% Fibonacci retracement level. The Relative Strength Index (RSI) on the daily chart is 43, which is below the neutral level of 50, indicating increased selling pressure. The MACD is also approaching a bearish crossover, which could deepen the negative trend.

Ethereum ETH $3,095.37 Bridged Ether (StarkGate) 0.36% Market capitalization $71.01 million VOL. 24 hours $0.21 billion has experienced a deviation from the 50-day exponential average (EMA) at $ 3,280 and was down 7.62% by Sunday. As of Monday, ETH is hovering around $ 3,100. If the price consolidates below the $ 3,017 support, the decline may continue to the next level of $ 2,749. The current RSI reading on the daily chart is 49, signaling the beginning of a decline in momentum, while the MACD is also showing converging lines, indicating a possible continuation of the correction.

Ripple XRP $2.09 XRP -0.03% Market capitalization $127.06 billion VOL. 24 hours $63.77 million is down for the second week in a row — by 3.22%, retesting the key daily support of $ 1.96 on Sunday. At the time of publication, XRP is trading around $ 1.99. If the price consolidates below $ 1.96, it could lead to a drop to the next support at $ 1.77. The RSI is at 40, which reflects the predominance of bearish sentiment, and the converging MACD lines indicate uncertainty among traders.

If the support at $ 1.96 for XRP and $ 3,017 for ETH holds, and Bitcoin manages to break through the resistance at $ 94,253, the market could move to a short-term recovery. In this case, BTC could test the psychological level of $ 100,000, ETH could return to $ 3,280, and XRP could recover to $ 2.35. However, the technical picture remains prone to further correction.