- Bitcoin struggles to break above $85,000, signaling market indecision, while Ethereum and Ripple extend losses after facing key resistance levels.
- A breakout or breakdown at these critical points could shape the next major move for all three assets.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are at pivotal points in their price trajectories this week, with BTC struggling to break out while ETH and XRP extend their losses amid growing market uncertainty.
Bitcoin Battles at $85K—Breakout or Breakdown?
Bitcoin is once again knocking on the door of its 200-day Exponential Moving Average (EMA) at $85,000. After several failed breakout attempts since Sunday, BTC remains trapped below this critical level, trading around $83,500 on Wednesday. The technical outlook shows a flatlining Relative Strength Index (RSI) at 50—highlighting indecision among traders.
A daily close above $85,000 could set the stage for a bullish push toward $90,000 and potentially retest the March 2 high of $95,000. However, a continued failure to break through could drag the price down to its next support at $78,258.
Also read: XRP Leads Altcoin ETF Race Over Solana and Dogecoin, Says Kaiko Report
Ethereum Faces a Familiar Barrier at $1,700
Ethereum continues to show signs of weakness as it struggles to rise above the psychological $1,700 resistance. After finding brief support around $1,449 last week, ETH rallied slightly but was rejected at the $1,700 mark earlier this week. As of Wednesday, it’s trading around $1,590, and the RSI hovers below 50 at 40, suggesting ongoing bearish pressure.
A break below $1,449 could open the door for a deeper slide to $1,300. On the flip side, a daily close above $1,700 may revive bullish hopes, with $1,861 as the next target.
XRP Pulls Back After Rally, Struggles at $2.23
Ripple made a strong recovery last week, surging 11% after breaking above its 200-day EMA at $1.95. However, the momentum faded as XRP failed to close above the $2.23 resistance. It has since dropped to $2.08, with a weakening RSI pointing to growing bearish sentiment.
If XRP loses hold of its 200-day EMA, currently acting as support, it could slip further toward $1.77. A renewed attempt to break above $2.23 would be key for any bullish continuation.
While Bitcoin teases a breakout, Ethereum and Ripple appear to be retreating into correction zones. Traders should watch for key daily closes, as they may determine whether the bulls regain control or bears drag prices deeper into support.
