Predictions for the prices of the top 3 cryptocurrencies: BTC, ETH, and XRP face falling pressure as the crypto market weakens.

As of the time of writing on Friday, the price of Bitcoin (BTC) fluctuated around 109,000 USD, marking a decline of nearly 5% since the beginning of the week. Similarly, Ethereum (ETH) and Ripple (XRP) also weakened, decreasing nearly 8% and 7% respectively. These top three cryptocurrencies are approaching significant support levels; if they close below these levels, the likelihood of further declines is very high.

Bitcoin may continue to adjust to the 102,000 USD range if it breaks the main support.

The price of Bitcoin was rejected at the 78.6% Fibonacci retracement level ( from the low on April 7 at 74,508 USD to the all-time high on October 6 at 126,199 USD) at the level of 115,137 USD on Monday, before falling 5.44% by Thursday. By Friday evening, BTC was hovering around the threshold of 109,100 USD.

BTC/USDT daily chart | Source: TradingViewIf the downtrend continues and BTC closes below the Fibonacci level of 61.8% at 106,453 USD, the decline may extend towards the bottom of October 10 around 102,000 USD. The RSI index on the daily chart is currently at 43, below the neutral threshold of 50, indicating that selling pressure is prevailing. At the same time, the MACD line and the signal line of the MACD indicator are converging along with the histogram bars gradually narrowing — a signal indicating that upward momentum is weakening.

On the contrary, if BTC maintains the support area around 106,453 USD, this coin has the potential to bounce back, aiming for the 50-day EMA at 112,872 USD.

Ethereum shows signs of weakening momentum

Ethereum (ETH) faced strong selling pressure after being rejected at the resistance level of 4,232 USD on Monday, and as of Thursday, the coin has fallen by 8.86%, currently trading around 3,833 USD.

Daily ETH/USDT chart | Source: TradingViewIf the correction trend continues, ETH may fall deep into the important support zone at 3,593 USD, corresponding to the 61.8% Fibonacci retracement level. Signals from technical indicators such as RSI and MACD are also leaning towards a downward trend, reflecting that selling pressure is still dominating the market.

On the contrary, if Ethereum finds buying pressure and recovers, the nearest resistance level to watch is the 50-day EMA at 4,089 USD, where it could determine the next direction of this coin.

XRP rejected at the 50-day EMA

On Monday, the price of XRP faced strong resistance at the 50-day EMA level of 2.66 USD and then plunged nearly 8% by Thursday, returning to test the important support area around 2.35 USD. On Friday evening, this coin fluctuated around the 2.46 USD mark.

If XRP breaks and closes below the support level of 2.35 USD, it is highly likely that the correction will continue, heading towards the next support level at 1.96 USD.

XRP/USDT daily chart | Source: TradingViewTechnical indicators, including RSI and MACD, similar to Bitcoin and Ethereum, are sending the first signals of a fall.

Conversely, in a recovery scenario, XRP could regain momentum and target the 50-day EMA at a level of 2.66 USD.

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