Top Cryptocurrencies Under Pressure as Momentum Indicators Flag Early Bearish Signals
The top three cryptocurrencies, Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), are facing downward pressure after massive gains in August. Technical indicators suggest early signs of weakening momentum across the trio.
BTC is showing bearish signals despite maintaining a bullish near-term bias. The price holds above key moving averages and remains above the neutral RSI line. However, MACD has slipped back toward the signal line, hinting at some loss of upside momentum.
Ethereum faces rejection from the $2,500 mark after pulling back from recent highs. ETH holds a constructive near-term bias despite the pullback from overbought territory, with RSI easing to about 63 and MACD slipping into negative territory.
XRP is consolidating below key support at the 200-day EMA of $1.350, leaving the broader bias neutral. The asset holds above clustered moving averages but has yet to reclaim its longer-term trend barrier.