The cryptocurrency market faces significant challenges as Bitcoin is currently priced at $104,777.84, down 2.79% today, following strong bearish pressure near the resistance point of $106,454. The liquidity strain from panic-induced sell-offs has surged, as evidenced by the 28.85% increase in 24-hour trading volume, which has now reached $69.67 billion. Experts note that the RSI level is at 48.85, indicating a weak bullish control, and many are watching a critical support zone at $101,909. A breach of this support could see Bitcoin prices drop to the psychological mark of $100,000.
Ethereum is experiencing a similar trend, with its price down 7.83% to $2,531.74. Trading volume has risen by 30.82% to $39.09 billion, suggesting further capitulation. The RSI stands at 49.43, and the cryptocurrency has decisively broken below the midline of the Bollinger Bands at $2,593, bringing attention to $2,336 as a key support level. A drop below this could lead Ethereum towards $2,200.
XRP is reportedly trading at $2.12, down 5.08% with its market cap at $125.26 billion. Current price action shows XRP is battling to maintain its position above the key support of $1.96. The RSI indicates that sellers are dominant with a reading of 41.37. If XRP drops below $1.96, it could descend further toward $1.85, necessitating a push back above the 20-day SMA to potentially reclaim higher levels.
Ethereum is experiencing a similar trend, with its price down 7.83% to $2,531.74. Trading volume has risen by 30.82% to $39.09 billion, suggesting further capitulation. The RSI stands at 49.43, and the cryptocurrency has decisively broken below the midline of the Bollinger Bands at $2,593, bringing attention to $2,336 as a key support level. A drop below this could lead Ethereum towards $2,200.
XRP is reportedly trading at $2.12, down 5.08% with its market cap at $125.26 billion. Current price action shows XRP is battling to maintain its position above the key support of $1.96. The RSI indicates that sellers are dominant with a reading of 41.37. If XRP drops below $1.96, it could descend further toward $1.85, necessitating a push back above the 20-day SMA to potentially reclaim higher levels.
