Crypto Market Watch: Why BTC Dropped Below Critical Support & What's Next for ETH/XRP? | Technical Breakdown of Top 3 Cryptocurrencies

Market Pulse: Key Levels Broken as Major Cryptos Show Bearish Signals

The How much will 1 ethereum be worth in 2030 redditcryptocurrency market exhibited notable weakness on Thursday, with Bitcoin (BTC) closing below a crucial support level while Ethereum (ETH) and Ripple (XRP) displayed concerning technical patterns that may foreshadow further downside.

Bitcoin Technical Outlook: Support Breakdown Opens Door to $100K Test

Thursday's trading session proved significant for Bitcoin as the dominant cryptocurrency conclusively breached the $106,406 support level on daily charts. As of Friday morning, BTC continues to trade near $105,600, establishing this as new resistance.

Technical indicators paint a cautious picture for Bitcoin bulls:

• The Relative Strength Index (RSI) currently sits at 54 but shows clear downward trajectory toward the neutral 50 level
• MACD histogram bars continue expanding in negative territory following recent bearish crossover
• Daily candle closure below previous support now converts this zone to resistance

Should current momentum persist, market participants should monitor these critical levels:

• Immediate support now shifts to psychological $100,000 threshold
• Any recovery attempt would need to reclaim $106,400 convincingly
• Break above all-time highs could trigger move toward $120,000

Ethereum Market Analysis: Resistance Rejection Hints at Potential Pullback

Ethereum's price action mirrored Bitcoin's weakness, facing clear rejection at the $2,724 resistance level before retreating to current levels around $2,600. This development follows Wednesday's overbought RSI reading that suggested potential exhaustion.

Key technical observations for ETH:

• Daily RSI rejected from 70 overbought territory, now declining at 64
• MACD shows bearish crossover with histogram bars losing upward momentum
• 200-day EMA at $2,455 represents next significant support zone

Traders should watch these critical developments:

• Daily close below 200-day EMA could accelerate decline toward $2,277 support
• Successful defense of current levels might maintain range-bound structure
• Break above $2,724 resistance could reignite bullish momentum toward $3,000

Ripple Technical Picture: Breakdown Below Key Moving Average Signals Weakness

XRP displayed particular vulnerability this week, closing decisively below its 50-day exponential moving average at $2.29 before extending losses to current levels near $2.21. This development marks a significant technical deterioration.

Concerning technical signals for Ripple:

• Daily RSI sits at 41 and continues trending downward below neutral 50 level
• MACD shows bearish crossover with histogram in negative territory
• Price now trades below both 50-day and 200-day EMAs

Critical levels to monitor for XRP:

• Next significant support emerges at $1.96 if current downtrend persists
• Any recovery would need to reclaim 50-day EMA at $2.29
• Break above moving average cluster could signal trend reversal

Market participants should note that current technical setups suggest caution may be warranted across these major cryptocurrencies. The coming sessions will prove crucial in determining whether these are temporary corrections or the beginning of more significant trend changes.