Crypto Market Under Pressure: Bitcoin, Ethereum, and Ripple Face Bearish Trend

The cryptocurrency market is facing a challenging week as major players like Bitcoin, Ethereum, and Ripple struggle to regain momentum. Technical analysis of these coins reveals that the bearish trend is likely to continue, with key support levels being tested.

Bitcoin's price is currently trading at $61,778, well below its 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs). The Relative Strength Index (RSI) is hovering near oversold conditions, while the Moving Average Convergence Divergence (MACD) remains in negative territory. This suggests that selling pressure is still dominant, and any additional decline could probe fresh levels beneath $61,778.

Ethereum's price is trading at $1,638, with a clearly negative tone and staying well below its primary EMA references. The RSI is lodged deep in oversold territory near 25, while the MACD continues to show negative readings. This combination suggests that although bearish momentum is stretched, a convincing reversal signal has not yet emerged.

XRP's price is quoted at $1.128 on Wednesday, retaining a clearly bearish short-term profile. The token trades well beneath its 50-day, 100-day, and 200-day EMAs, which act as stacked resistance overhead. The RSI is sitting just above the oversold line near 30, signaling that selling pressure is extended yet still dominant.