Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are showing mixed price action on Wednesday as traders assess key technical support levels. BTC remains under pressure after its recent decline, while ETH is attempting to extend its rebound from the 50-day Exponential Moving Average (EMA). Meanwhile, XRP is holding above the crucial $1 level, keeping its recovery attempt intact.
Bitcoin shows early signs of weakness
Bitcoin price trades around $63,700 on Wednesday, retaining a bearish near-term bias as it holds below all key EMAs. The 50-day EMA at $64,580, the 100-day EMA at $66,756 and the 200-day EMA at $72,496 all sit above spot, suggesting the broader trend remains under downside pressure despite the recent bounce from sub-$63,000.
Momentum indicators are subdued, with the Relative Strength Index (RSI) at 47 hovering just below neutral and the Moving Average Convergence Divergence (MACD) below zero with a slightly negative reading, hinting at a weak, corrective tone rather than impulsive buying.
On the topside, immediate resistance is seen at the horizontal level around $64,004, just above the current price, with the 50-day EMA at $64,580 reinforcing this initial cap. Further up, the 100-day EMA at $66,756 and the 200-day EMA at $72,496 define successive barriers before a more distant structural ceiling at $75,719.
On the downside, the key psychological support is at $60,000. A daily close below this latter area would trigger deeper correction toward the yearly low of $57,800 set on July 1.
Ethereum finds support at key zone
Ethereum price trades at $1,885 on Wednesday. ETH price holds above the 50-day EMA at $1,864, suggesting near-term underpinning, but remains capped below the 100-day EMA at $1,924, keeping the broader tone neutral rather than decisively bullish. The 200-day EMA at $2,145 stays well overhead as a medium-term barrier, while the RSI around 51 hints at balanced momentum and the MACD below zero reinforces lingering downside risks despite the pair stabilizing above its short-term trendline.
On the downside, immediate support is seen at the 50-day EMA near $1,864, with a deeper structural floor down at the horizontal level around $1,385.
On the topside, initial resistance appears at the 100-day EMA at $1,924, ahead of the psychological $2,000 horizontal barrier; beyond that, the 200-day EMA at $2,145 would become the next key obstacle for any sustained recovery.
XRP rebounds from $1 support
XRP price trades at $1.021 on Wednesday, retaining a bearish near-term bias as price holds below the key EMAs. The 50-day EMA at $1.094, the 100-day EMA at $1.176 and the 200-day EMA at $1.377 all sit overhead, suggesting the pair remains capped by a layered technical ceiling.
Momentum conditions are soft, with the RSI at 38 hovering below the neutral 50 line and the MACD anchored in negative territory, which reinforces the idea of fading upside attempts rather than a clean reversal.
On the downside, immediate support is located at the horizontal level around $1.000, where buyers could attempt to slow the decline if selling pressure persists.
On the topside, initial resistance is seen at the 50-day EMA near $1.094, followed by the 100-day EMA at $1.176 and the prior horizontal barrier at $1.300; higher up, the 200-day EMA at $1.377 and the distant resistance at $1.900 define a broader supply zone that would likely cap any stronger recovery while the XRP trades below these levels.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
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