Crypto Majors Struggle as Selling Pressure Hits BTC ETH

Key Moments

Overview of Market Pressure

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) stayed on the back foot at the start of the week after sharp declines of more than 14%, 15%, and 13%, respectively, in the previous week. BTC remained capped below $63,000, ETH broke beneath important support zones, and XRP’s technical signals continued to lean toward further downside.

Bitcoin: Rebound Faces Heavy Overhead Resistance

Bitcoin price traded at $63,021 on Monday, extending a pronounced bearish stretch and holding clearly under the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), which were clustered between roughly $72,900 and $79,800.

BTC also slipped back under the previously highlighted horizontal barrier around $64,004, leaving the market vulnerable on the downside. At the same time, the Relative Strength Index (RSI) hovered near 26 in oversold territory, while the Moving Average Convergence Divergence (MACD) stayed deeply negative. Together, these indicators suggested that sellers maintained control even if occasional short-covering bounces emerged.

On the upside, initial resistance was now located at the former horizontal cap near $64,005, with stronger supply expected near the broken rising trendline region around $72,770 and the 50-day EMA close to $72,900. Above those levels, the 100-day EMA at about $74,743 and the 200-day EMA around $79,784 formed a broader resistance band ahead of the major horizontal ceiling at $84,410.

With no nearby structural support highlighted by the current set of indicators and trend tools, the technical bias remained skewed to the downside, and any recovery attempts were likely to face difficulty while BTC stayed beneath this dense cluster of EMAs and historical resistance levels.

Ethereum: Breakdown Below Important Supports

Ethereum price traded at $1,683.41, extending its bearish phase and remaining firmly under the 50-day, 100-day, and 200-day EMAs at roughly $2,058, $2,189, and $2,441, respectively.

The concentration of these EMAs above the market indicated that any rallies were likely to encounter supply. On the daily chart, the RSI hovered close to oversold conditions around 27, and the MACD stayed deeply negative, pointing to persistent bearish momentum even if temporary short-covering rallies developed.

On the upside, the first notable resistance was located at $1,747, followed by the psychological $2,000 threshold, ahead of the 50-day EMA near $2,058. Beyond that, the 100-day EMA at $2,189 and the 200-day EMA near $2,441 framed a broader cap on recovery attempts.

On the downside, the next significant support appeared at the horizontal level of $1,385, where buyers could attempt to contain the decline if renewed selling pressure emerged.

XRP: Bears Eye the $1.000 Psychological Floor

XRP traded at $1.153, maintaining a bearish near-term stance as price held comfortably below the 50-day, 100-day, and 200-day EMAs at $1.326, $1.412, and $1.617, respectively. On the daily timeframe, the RSI stood near 31, edging out of oversold territory but still indicating subdued demand. The MACD remained negative, with the indicator beneath its signal line and below the zero mark, suggesting that downside pressure was only easing gradually rather than reversing.

On the upside, initial resistance aligned with the horizontal barrier at 1.300, followed by the 50-day EMA near $1.326 and the parallel downward channel area around $1.332. A daily close above this cluster would be required to temper the current bearish tone and open the door toward the 100-day EMA at $1.412, with the 200-day EMA at $1.617. The earlier horizontal cap at $1.900 represented a more distant obstacle.

On the downside, the next important support emerged at the psychological and horizontal level of $1, where buyers would be expected to show greater interest if the decline extended.