Top 3 Price Predictions: Bitcoin, Ethereum, Ripple – With bears in control, can the next support levels hold at BTC $70,000, ETH around $2,000 and XRP near $1?

With key EMAs breached on a closing basis, Bitcoin faces its next support at $70,000 while trading around $75,530 on Monday.
Bears have the psychological $2,000 level in sight as Ethereum trades around $2,155 following last week’s correction of over 6.5%.
The next key zone for XRP lies around $1, with Monday’s price near $1.11 following a correction of over 10% last week.

Selling pressure continues to dominate Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP). The top three cryptocurrencies recorded their fifth consecutive week of losses last week, with corrections exceeding 4%, 6% and 10%, respectively. After a close below key Exponential Moving Averages (EMAs), BTC is trading around $75,530 on Monday, with $70,000 emerging as its next major support. ETH, near $2,155, and XRP, around $1.11, also remain vulnerable to declines towards $2,000 and $1, respectively.

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Can Bitcoin Hold Above $70,000 After Closing Below Major Supports?

The near-term outlook for Bitcoin remains bearish, with Monday’s price of $75,530 below key Exponential Moving Averages (EMAs). Overhead resistance begins with the 200-day EMA at $76,463, followed by the 100-day EMA at $77,635 and the 50-day EMA near $79,327. Together, these levels point to persistent selling interest on rallies.

Weak momentum indicators also suggest that selling continues to outweigh buying on dips. The Relative Strength Index (RSI) is in the high-30s, while the Moving Average Convergence Divergence (MACD) remains below zero.

Any recovery would first encounter the 200-day EMA around $76,463, followed by the 100-day EMA near $77,635 and then the 50-day EMA close to $79,327. Beyond these hurdles, buyers would need to reclaim the horizontal resistance at $85,000 to provide stronger confirmation of a bullish recovery and challenge the broader bearish outlook.

With no nearby support identified on the chart, a fresh break below current levels would point BTC towards the psychological support zone around $70,000 before prices stabilise.

Will Ethereum Bears Push Towards $2,000?

Near-term risks for Ethereum remain tilted downwards as it trades at $2,155 on Monday, substantially below the 200-day EMA at $2,311, the 100-day EMA at $2,337 and the 50-day EMA at $2,372. A break of the formerly rising support trendline around $2,432 adds to the corrective bias. Meanwhile, an RSI near 35 and a negative MACD point to continued downward momentum rather than outright capitulation.

A rebound would initially face the 200-day EMA near $2,311, before the 100-day EMA at $2,337 and the 50-day EMA at $2,372 come into play. A stronger recovery would encounter more significant resistance at the horizontal $2,400 level and the former rising trendline’s break zone around $2,432.

Should the decline continue, the key $2,000 level offers the next meaningful support, followed by the earlier horizontal base around $1,823. Buyers would be expected to show stronger interest at that lower base if the current slide extends.

Is XRP’s Next Key Support Within Bears’ Reach?

Trading at $1.119 on Monday, XRP retains a bearish near-term bias. Its price remains considerably below the 50-day, 100-day and 200-day EMAs, which are grouped between roughly $1.303 and $1.368.

An RSI reading of 28 places the Relative Strength Index (RSI) in oversold territory, while the Moving Average Convergence Divergence (MACD) indicator stays negative. Together, these signals suggest continuing downward pressure, although depressed prices leave scope for a brief pause or a modest rebound.

For a recovery, $1.160 presents the first resistance, followed by a firmer barrier near $1.300 and the nearby EMA cluster spanning the 50-day EMA at $1.303 and the 100-day EMA at $1.308. Higher hurdles lie at the 200-day EMA of $1.368 and the horizontal levels of $1.540 and $1.900.

The psychological $1.000 mark provides the closest meaningful support. A breach would likely leave the pair exposed to a deeper decline over the coming sessions.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

What Drives Cryptocurrency Prices? FAQs

What impact do new token launches and listings have on cryptocurrency prices?

Demand and adoption among market participants are influenced by token launches. When an asset is listed on crypto exchanges, its liquidity increases and new participants join its network. These developments are generally bullish for a digital asset.

Why can hacks move cryptocurrency prices?

During a hack, an attacker uses exploits, bugs or other methods to seize a large quantity of an asset from a DeFi bridge, an exchange’s hot wallet or another crypto platform. The attacker subsequently moves the tokens off exchange platforms with the ultimate aim of selling them or exchanging them for other cryptocurrencies or stablecoins. Such incidents often spark widespread panic and a sell-off in the affected assets.

How do macroeconomic data releases and events influence cryptocurrency prices?

The direct effect on the US Dollar is the main channel through which macroeconomic events, such as the US Federal Reserve’s interest rate decisions, influence crypto assets. Higher interest rates generally weigh on Bitcoin and altcoin prices, while lower rates tend to have the opposite effect. A decline in the US Dollar index makes risk assets and the associated leverage used for trading cheaper, thereby pushing crypto prices higher.

What effect do major crypto upgrades, including halvings and hard forks, have on cryptocurrency prices?

By cutting miners’ block rewards in half, halvings restrict an asset’s supply and are therefore generally viewed as bullish events. If demand remains constant while supply falls, the asset’s price rises.