Market Signals Flash Red: Is This the Start of a Deeper Pullback for Bitcoin, Ethereum, and Ripple?

The crypto market is sending mixed signals as Bitcoin, Ethereum, and XRP face mounting selling pressure this week. With RSI and MACD showing notable weakening across the board, traders are closely watching whether the current pullback will deepen or spark a recovery. Let’s break down what the technical setup is telling us about each major asset.

Bitcoin at a Crossroads: The $85,569 Level Could Determine the Next Move

Bitcoin currently trades around $92.16K (as of latest data), up 1.52% in 24 hours, but don’t let the modest gains fool you—the technical picture remains fragile. The key question: what happens if BTC closes below the crucial $85,569 support level? That’s where things could get ugly.

The daily RSI sits at 40, firmly in bearish territory below the 50 midpoint. More critically, the MACD indicator is showing troubling signs of convergence and divergence patterns that suggest momentum is fading fast. Should a bearish crossover materialize, it could accelerate the decline toward the psychological $80,000 threshold.

On the bright side, if Bitcoin manages to bounce from current levels, bulls could push toward the 61.8% Fibonacci retracement resistance near $94,253. But for now, the bias remains decidedly downside-tilted until we see a decisive recovery above key moving averages.

Ethereum Breaking Down: Watch the $2,749 Floor

Ethereum is facing even more brutal selling pressure, currently trading at $3.16K with a 24-hour gain of 2.19%—but that masks the underlying weakness. The rejection at the 50-day EMA around $3,249 followed by an 11% plunge on Tuesday signals serious seller dominance.

The technical picture is equally grim: ETH’s RSI is at 41 (bearish), and the MACD already flashed a bearish convergence and divergence signal on Wednesday. If the pullback intensifies, the next support to watch sits at $2,749.

A recovery would need to reclaim the 50-day moving average as a foothold, but momentum indicators don’t currently support that scenario. Traders should watch closely for any sign of stabilization at key support levels before considering the upside.

XRP Under Siege: Bears Eye the $1.77 Target

XRP presents a sobering picture for bulls: down 0.33% in 24 hours and sitting near $2.08, the token has broken below the critical daily support at $1.96 for the second consecutive week. The RSI at 37 screams bearish momentum, while the MACD’s bearish convergence and divergence pattern established on Sunday continues to signal weakness.

If sellers maintain control, the next support to monitor is $1.77. However, any stabilization above $1.96 could reignite upside momentum, potentially sending XRP back toward daily resistance in the near term.

The Bigger Picture: Technical Convergence Suggests More Pain Ahead

What’s striking across all three major cryptocurrencies is the synchronization of bearish signals. When Bitcoin, Ethereum, and XRP simultaneously show declining RSI readings, MACD bearish crossovers, and converging momentum lines, it typically precedes deeper market corrections. The convergence and divergence mechanics are all aligned to the downside, making this a critical juncture for the broader market.

Traders should remain cautious and wait for clear signs of stabilization before committing fresh capital. The next 48-72 hours will be pivotal in determining whether we see a shallow correction or a more sustained pullback across these major assets.