Key Moments
- Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) fell more than 3%, 4% and 9%, respectively, after the Clarity Act failed to progress in the Senate on Tuesday.
- All three assets are consolidating on Wednesday as market participants await the Federal Reserve’s interest rate decision and guidance from Chairman Kevin Warsh.
- BTC and ETH remain above key daily EMAs with broadly constructive structures, while XRP trades below its 200-day EMA, keeping a cautiously bearish tone.
Fed Decision Looms Over Crypto Market
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are trading under pressure and consolidating on Wednesday after sharp declines in the previous session. BTC, ETH and XRP dropped more than 3%, 4% and 9%, respectively, following the failure of the Clarity Act to advance in the Senate on Tuesday.
Attention has now turned to the Federal Reserve, with investors awaiting the central bank’s interest rate decision and forward guidance from Chairman Kevin Warsh on Wednesday. The outcome and tone of the Fed’s communication could be pivotal for the near-term trajectory of these three leading cryptocurrencies.
Technical Overview at a Glance
| Asset | Current Price | Key Supports (Daily EMAs / Levels) | Key Resistances (Daily EMAs / Levels) |
|---|---|---|---|
| Bitcoin (BTC/USDT) | $75,930 | 50-day EMA $73,581; 200-day EMA $73,108; 100-day EMA $71,391; $66,500; $62,300 | Horizontal resistance near $85,000 |
| Ethereum (ETH/USDT) | $2,400 | 50-day EMA near $2,275; 200-day EMA near $2,207; 100-day EMA around $2,156; $2,000; $1,385 | Horizontal resistance around $2,500; higher cap near $3,000 |
| Ripple (XRP/USDT) | $1.290 | 50-day EMA at $1.283; 100-day EMA at $1.254; structural floor near $1.000 | Horizontal barrier at $1.300; 200-day EMA at $1.353; higher resistance zone around $1.900 |
Bitcoin Holds Above Stacked EMAs
Bitcoin is changing hands at $75,930 on Wednesday, recovering modestly after a decline of more than 3% the day before. Despite the setback, BTC maintains a constructive bullish profile, with price still trading comfortably above the 50-day, 100-day and 200-day Exponential Moving Averages, which are clustered between roughly $71,400 and $73,600.
This stacked EMA structure points to an underlying uptrend even as recent upside momentum eases. The Relative Strength Index has softened to around 49, while the Moving Average Convergence Divergence indicator remains negative and below the zero line, indicating that although the broader bullish structure is intact, short-term upward drive is losing steam.
On the downside, immediate technical support is strengthened by the 50-day EMA at $73,581, followed by the 200-day EMA at $73,108 and the 100-day EMA at $71,391. Below these levels, more distant horizontal support zones are located around $66,500 and $62,300.
On the upside, the next significant resistance is identified near the horizontal barrier at $85,000. Fresh selling interest could emerge in this region if buyers manage to extend the rebound from the current EMA-backed zone.
Ethereum Sees Momentum Cool After Pullback
Ethereum is trading at $2,400 on Wednesday after dropping more than 4% in the prior session. Despite the setback and ongoing consolidation, ETH is still positioned above its major EMAs and retains a broadly constructive technical stance.
The token holds above the 50-day EMA near $2,275, with the 100-day EMA around $2,156 and the 200-day EMA close to $2,207 providing additional demand beneath the market. However, momentum indicators signal cooling conditions: the Relative Strength Index sits near the neutral 50 mark, and the MACD remains negative with a subdued histogram, implying that buyers are advancing with reduced strength after an earlier overbought period.
On the topside, initial resistance emerges at the horizontal level around $2,500, with a more prominent ceiling situated near $3,000.
On the downside, immediate support is offered by the 50-day EMA at roughly $2,275, followed by the 200-day EMA near $2,207 and the 100-day EMA around $2,156. Should these dynamic supports fail, a more distant horizontal base appears at $2,000, followed by a deeper structural level near $1,385, which would likely come into focus only if the current bullish platform deteriorates.
XRP Trades Below 200-day EMA With Cautious Bias
XRP is quoted at $1.290, having retreated from its recent short-term recovery peak. On Wednesday, the token is trading above its 50-day and 100-day EMAs at $1.283 and $1.254, respectively, but remains capped well below the 200-day EMA at $1.353. This configuration keeps the broader bias cautiously bearish.
The RSI is hovering just under the 50 threshold near 46, and the MACD is still in negative territory, together indicating that upward momentum is fading even as price holds slightly above its near-term EMA support band.
On the topside, initial resistance coincides with the nearby horizontal barrier at $1.300, followed by the more consequential 200-day EMA at $1.353. A sustained move above the 200-day EMA would be required to ease the prevailing downside bias and potentially pave the way toward the higher resistance area around $1.900.
On the downside, immediate support is anchored by the 50-day EMA at $1.283, backed by the 100-day EMA at $1.254. A daily close beneath this EMA cluster would expose the psychological and structural floor near $1.000, where buying interest previously appeared.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
