Top 3 Crypto Price Outlook
🔹 Bitcoin ($BTC
BTC) Faces Strong Resistance
Bitcoin failed to break above the 50-day Exponential Moving Average (EMA) at $113,621, and is now trading near $108,500 on Wednesday.
On Monday, BTC bounced nearly 4% after touching the 61.8% Fibonacci retracement level at $106,453 (drawn from April’s $74,508 low to the $126,199 all-time high).
However, on Tuesday, a rejection at the 50-day EMA ($113,606) caused a 2% drop.
If BTC continues downward and closes below $106,453, it could extend losses towards $102,000, the October 10 low.
Conversely, a daily close above the rising trendline could push BTC back toward the 50-day EMA at $113,608.
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🔹 Ethereum ($ETH ETH) Weakens Below Key Levels
Ethereum is showing signs of further weakness after failing to stay above resistance.
ETH dropped over 4% last week, hitting resistance at $4,232.
This week, it continued sliding another 3%, and is now trading around $3,847.
If selling pressure persists, ETH may drop to the 61.8% Fibonacci level at $3,593, which aligns with the 200-day EMA.
On the upside, any bounce could lead ETH to retest the $4,232 resistance zone.
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🔹 XRP Nears Critical Support at $2.35
XRP is approaching a key decision point as bearish pressure builds.
Last week, XRP lost more than 5% after failing to break out of a falling wedge pattern.
On Monday, it briefly rose above $2.35, but slipped 3% on Tuesday.
As of Wednesday, XRP trades around $2.41, just above the critical $2.35 support.
A close below $2.35 could trigger a drop toward the next support at $1.96.
However, if bulls defend the level, XRP c
ould rebound toward the 50-day EMA at $2.72.