- Bitcoin, Ethereum, and Ripple face significant bearish pressure, with Bitcoin potentially dropping below $80,000, Ethereum targeting $1,700, and XRP testing its yearly low at $1.96.
- If these critical support levels break, further declines could follow, intensifying the bearish trend in the market.
The cryptocurrency market is showing signs of vulnerability as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all face potential declines that could test significant support levels. On April 4, 2025, Bitcoin hovers around $83,000 after failing to push past the critical $85,000 resistance level, Ethereum struggles with its $1,861 support, and XRP retests its crucial $1.96 mark.
Also read: Ripple Lawsuit Ends: Pro-XRP Lawyer John Deaton Revisits XRP Delisting Amid Coinbase Futures Filing
Bitcoin’s Struggles at $85,000 Resistance
Bitcoin (BTC) has faced rejection at the 50% Fibonacci retracement level, located at $88,211, after a brief decline of 3.10% on April 2. Despite several attempts to close above the $85,000 resistance zone, which also coincides with the 200-day Exponential Moving Average (EMA), Bitcoin has failed to break through. At the time of writing, Bitcoin sits just under $83,000, leaving traders to ponder its next move.
The Relative Strength Index (RSI) on the daily chart indicates slight bearish momentum, reading 44, while the Moving Average Convergence Divergence (MACD) hints at indecisiveness in the market. If BTC continues to face resistance at $85,000, a drop to the next key support around $78,258 could be on the horizon. However, should Bitcoin manage to reclaim the $85,000 level, a recovery towards the psychological $90,000 mark is possible.
Ethereum Eyes $1,700 Support Amid Bearish Sentiment
Ethereum (ETH) has struggled to maintain its footing around $1,861, slipping nearly 6% earlier this week. Despite brief recoveries, ETH is trading around $1,790, with bearish pressure mounting. The RSI reading of 37 signals strong downward momentum, and Ethereum could potentially dip to its key psychological level of $1,700, which it hasn’t seen since October 2023. A break below $1,700 could see ETH face even deeper losses, potentially targeting levels last seen in early 2023.
However, if Ethereum manages to stabilize above $1,861, there could be potential for a recovery toward the March high of $2,104, but this scenario seems increasingly unlikely given current market conditions.
XRP Faces Yearly Low Test at $1.96
Ripple CTO Sparks Debate on XRP’s Future ValueRipple (XRP) has been battling bearish pressure after closing below its 100-day EMA at $2.30 last week. The cryptocurrency stabilized around $2.14 before facing rejection, leading to a retest of the critical support level at $1.96. Should XRP fail to hold above $1.96, the next target for bears could be the yearly low of $1.77, last seen in February 2025.
The RSI for XRP is also in bearish territory at 39, signaling that the downward trend may continue. If the support at $1.96 breaks, traders should watch closely for further declines.
As the market struggles with these critical levels, it remains to be seen whether Bitcoin, Ethereum, and XRP can rebound or if bears will continue to dominate. Traders will need to monitor these key support levels closely to gauge the future direction of the crypto market.
