Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC steadies, ETH holds 50-day EMA, XRP rebounds from $1 support
- Bitcoin trades at $63,700 on Wednesday after falling 2% in the previous two days.
- Ethereum trades around $1,885 after rebounding from the 50-day EMA.
- XRP trades at $1.02 after retesting and holding the key $1 support level.
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.)
Cryptocurrency metrics FAQs
The developer or creator of each cryptocurrency decides on the total number of tokens that can be minted or issued. Only a certain number of these assets can be minted by mining, staking or other mechanisms. This is defined by the algorithm of the underlying blockchain technology. On the other hand, circulating supply can also be decreased via actions such as burning tokens, or mistakenly sending assets to addresses of other incompatible blockchains.
Market capitalization is the result of multiplying the circulating supply of a certain asset by the asset’s current market value.
Trading volume refers to the total number of tokens for a specific asset that has been transacted or exchanged between buyers and sellers within set trading hours, for example, 24 hours. It is used to gauge market sentiment, this metric combines all volumes on centralized exchanges and decentralized exchanges. Increasing trading volume often denotes the demand for a certain asset as more people are buying and selling the cryptocurrency.
Funding rates are a concept designed to encourage traders to take positions and ensure perpetual contract prices match spot markets. It defines a mechanism by exchanges to ensure that future prices and index prices periodic payments regularly converge. When the funding rate is positive, the price of the perpetual contract is higher than the mark price. This means traders who are bullish and have opened long positions pay traders who are in short positions. On the other hand, a negative funding rate means perpetual prices are below the mark price, and hence traders with short positions pay traders who have opened long positions.
Author
Manish Chhetri
FXStreet
Manish Chhetri is a crypto specialist with over four years of experience in the cryptocurrency industry.
