Bitcoin, Ethereum, and Ripple technical weakness deepens... RSI enters oversold territory, support levels contested

Amid sluggish trading volume, major coins are facing technical resistance and showing signs of weakness. Currently, Bitcoin is moving around $93.98K, Ethereum at $3.29K, and Ripple at $2.38, with the short-term direction depending on whether each coin can defend its key support levels.

Bitcoin(BTC): Failed to Break Long-term 61.8% Retracement… Reclaiming $90,000 as the First Test

Bitcoin has been experiencing technical weakness since the beginning of the week. It lost the 61.8% Fibonacci retracement level of the rally from the April low(74,508) to the October high(126,299), which is at $94,253, increasing downward pressure. It has recently been holding around $85,900.

The daily RSI has fallen to 23, indicating an extremely oversold condition in the Relative Strength Index. Technically, this could be a buy signal at a low price, but the overall downtrend remains strong, making it difficult to feel confident.

Whether $85,000 support holds will be a crucial turning point. If this support breaks, the psychological threshold of $80,000 is likely to become the next target. Conversely, if this zone is maintained, a short-term rebound aiming to recover $90,000 could occur, and whether Bitcoin can reclaim $90,000 will serve as a key indicator of whether this correction is healthy.

Ethereum(ETH): Concerns of Chain Reaction Drop to $2,749 if Rebound Fails at $3,017

Ethereum has been under pressure after failing to rebound from resistance at $3,592 last week, resulting in a 14% decline. This week, it fell an additional 9.38%, breaking below the $3,017 support level, and is now at around $2,791, making a recovery to the $3,000 range more distant.

The RSI remains in a depressed zone, indicating that buying sentiment is frozen. The market’s biggest concern is further decline to $2,749(61.8% retracement), which would represent a significant retracement of the gains made since November.

However, if selling pressure weakens around mid-$2,700s, a technical rebound to resolve oversold conditions could occur. In this case, quickly recovering $3,017 will be the top priority, and only by regaining this level can the recent decline be considered a temporary correction.

Ripple(XRP): Holding $2 and Defending $1.77 as Final Support… RSI Signal Indicates Strong Momentum

Ripple has been showing continuous weakness after failing to break above the 50-day exponential moving average(EMA). After a 7% drop last week, it declined over 10% over four days this week, breaking below the $2 support level, and is currently at $2.38, forming technical resistance.

The RSI(32) is approaching oversold territory, suggesting that a technical rebound could happen at any time. However, the strong downward momentum makes caution necessary. If further declines occur, $1.77 is expected to act as the last support level where profit-taking from the mid-term rally will be absorbed.

Conversely, if the price stops falling near $2 and successfully rebounds, the daily resistance at $2.35 will become the first target. Reclaiming this level would demonstrate that the recent drop is merely a correction and could signal a return to an upward trend.