Cryptocurrency Market Under Pressure: Bitcoin, Ethereum, Ripple Struggle
The cryptocurrency market is experiencing losses, with Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) under pressure. BTC trades below $77,000, while ETH faces rejection near a key resistance level and XRP breaks below its 200-day Exponential Moving Average (EMA).
BTC's pullback is seen as constructive, with the Crypto King supported by a tight cluster of EMAs. The Relative Strength Index (RSI) has eased to about 54, indicating normalized but still positive momentum. However, the Moving Average Convergence Divergence (MACD) remains deeply negative, suggesting upside attempts may proceed in a more corrective fashion.
On the downside, initial support for BTC is reinforced by the 50-day and 200-day EMAs, which cluster between roughly $72,800 and $72,900. A decisive break beneath these levels would expose the more distant horizontal supports at $66,500 and then $62,300.
Ethereum's price trades at $2,449 on Friday, after a slight correction this week. ETH holds a constructive bullish bias, remaining comfortably above the 50-day, 100-day, and 200-day EMAs clustered between roughly $2,120 and $2,230. The RSI at 58 leans bullish without being overbought.
XRP trades at $1.344 on Friday, down over 5%, and closed below the 200-day EMA earlier this week. XRP is holding in a neutral near-term stance as it oscillates between underlying moving-average support and emerging overhead supply. The RSI around 51 signals balanced momentum.