Major cryptocurrencies fall amid pressure from crypto market players

On Wednesday, February 18, the cryptocurrency market is once again under pressure from sellers. Bitcoin, Ethereum, and Ripple remain in a consolidation zone, gradually approaching key support levels. The overall market dynamics looks sideways, but the risk of further decline remains.

Bitcoin BTC $77,901.40 Mezo Wrapped BTC -0.47% Market capitalization $76.71 million VOL. 24 hours $0.82 billion is trading below $ 68,000, approaching the lower boundary of the consolidation range at $ 65,729. If the price closes below this level, the decline may continue to $ 60,000. The RSI indicator on the daily chart has dropped to 34, signaling an increase in bearish momentum. At the same time, the MACD maintains its recent bullish crossover, leaving a chance for recovery if the upper limit of $ 71,746 is broken.

Ethereum ETH $2,183.66 Bridged Ether (StarkGate) -0.42% Market capitalization $38.85 million VOL. 24 hours $0.37 billion has fallen after rejecting the $ 2,149 level and is currently holding near $ 2,000. If the correction continues, the price could drop to $ 1,747. The RSI also indicates that sellers are in favor, but the MACD remains in a positive phase, which opens up the possibility of a recovery to $ 2,400 if the upper boundary of consolidation is broken.

Ripple XRP $1.42 XRP -0.06% Market capitalization $87.59 billion VOL. 24 hours $84.14 million stabilized near the lower boundary of the trend line after a short-term decline. XRP is currently trading at $ 1.47. If the support does not hold, the decline may continue to $ 1.30. If the trend line holds, the recovery may head to the 50-day EMA at $ 1.71.

All three top cryptocurrencies are at critical points. Technical indicators show conflicting signals: RSI confirms the pressure of sellers, while MACD leaves room for a potential recovery. The coming days will be crucial in determining the market’s future direction.