Bitcoin Faces Pressure Near $108,700
Bitcoin (BTC) is struggling to regain upward momentum. On Monday, it traded around $108,700 after dropping 5.49% last week. BTC fell from the 50-day Exponential Moving Average (EMA) at $113,950 on Tuesday. By Friday, it had declined 7.36%. The price found support near the 61.8% Fibonacci retracement level at $106,453 on Saturday and rose 2.22% the next day.
If Bitcoin closes below $106,453, it may drop further toward the October 10 low of $102,000. The Relative Strength Index (RSI) is at 40, showing bearish momentum. The Moving Average Convergence Divergence (MACD) also shows a bearish crossover since October 11. However, if BTC recovers, it could rise to retest the $110,000 trendline.
Ethereum Drops Below $4,000
Ethereum (ETH) lost over 4% last week after hitting resistance at $4,232. On Monday, ETH traded near $3,953. If the downward trend continues, ETH could fall to the 61.8% Fibonacci retracement level at $3,593, which aligns with the 200-day EMA.
Ethereum’s RSI and MACD indicators also point to bearish momentum. If ETH recovers, it may try to retest the $4,232 resistance level.
XRP Momentum Remains Bearish
Ripple (XRP) dropped more than 5% last week after facing resistance near the lower trendline of a falling wedge pattern. On Monday, XRP traded around $2.38. If the price keeps falling, XRP could reach the next support at $1.96.
Like Bitcoin and Ethereum, XRP’s RSI and MACD indicators support a bearish outlook. If XRP bounces back, it could move up toward the 200-day EMA at $2.61.
