Crypto Majors Face Pressure as BTC Falls Below $80,000

Key Moments

Broad Crypto Pullback Extends as Bears Retain Control

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) extended their declines on Monday after three consecutive weeks of weakness. BTC dropped under $80,000, while ETH and XRP followed the broader downtrend, trading around $2,315 and $1.30, respectively. The latest moves in these leading cryptocurrencies reflect deteriorating momentum indicators and heighten the risk of a more pronounced correction.

Bitcoin Holds Above Longer-Term Averages but Struggles Below $80,787

Bitcoin traded at $79,840 on Monday, remaining above the 100-day Exponential Moving Average (EMA) at $77,677 and the 200-day EMA at $76,300. These levels continue to support the broader upward structure. However, the price remains constrained by the 50-day EMA at $80,787, which is capping attempts to move higher.

The Relative Strength Index (RSI) stands at 40, indicating waning bullish momentum. The Moving Average Convergence Divergence (MACD) is in negative territory, positioned below its signal line, with a still-weak histogram. Together, these signals point to diminishing strength on upside attempts despite the presence of longer-term technical support.

On the upside, immediate resistance is located near the 50-day EMA at $80,787. Above that, a horizontal barrier awaits at $85,000, an area where prior selling interest may emerge again.

On the downside, initial support sits around the 100-day EMA near $77,677. Below that, the 200-day EMA around $76,300 marks a more significant structural floor. A daily close under the 200-day EMA would substantially undermine the medium-term bullish outlook for BTC.

Ethereum Slips Under Key Trendline as Bearish Bias Persists

Ethereum traded at $2,314 on Monday and continued to exhibit a bearish short-term tone as it remained below several important EMAs. The 200-day EMA at $2,316 is positioned just above the market, while a previously rising trendline – now serving as resistance – lies near $2,337. The 100-day EMA at $2,362 further reinforces a ceiling for prices.

The RSI is near 32, signaling Ethereum is nearing oversold territory. At the same time, the MACD stays negative with subdued readings, indicating that downward pressure remains in place even as conditions approach oversold levels.

On the topside, the first resistance level is the 200-day EMA at $2,316. Above that, the former ascending trendline around $2,337 and the 100-day EMA at $2,362 form a cluster of resistance. A horizontal level appears near $2,400, followed by the 50-day EMA at $2,458 and a more distant resistance zone around $2,770.

On the downside, the next notable support is aligned with a horizontal level at $1,823. If the current decline continues, that area may become important for buyers looking to maintain the broader uptrend.