Crypto Today: Mounting sell-side pressure keeps Bitcoin, Ethereum and XRP on edge

• With the Fed’s interest rate decision approaching, Bitcoin falls through support at $80,000.
• Weakening market sentiment pushes Ethereum lower to test demand around $2,300.
• As XRP buyers try to preserve support at $1.30, declining moving averages and momentum could keep any recovery in check.

The pivotal $80,000 threshold has given way as Bitcoin (BTC) edges lower, leading a broad correction in cryptocurrency prices on Tuesday. While Ripple (XRP) trades close to $1.30, Ethereum (ETH) shares Bitcoin’s neutral-to-bearish outlook.

Crypto sentiment weakens as Fed decision approaches

Wednesday’s Federal Reserve (Fed) interest rate decision remains the focus for traders. Over recent weeks, the outlook for cryptocurrencies has deteriorated against a backdrop of macroeconomic uncertainty, geopolitical tensions and a shortage of significant catalysts to maintain gains and consolidation at higher levels.

The probability of the Federal Open Market Committee (FOMC) leaving interest rates within the 3.75-4.00% range stands at nearly 90%, according to CME’s FedWatch Tool. Just 10% of market participants anticipate an increase.

With potential spikes in volatility ahead of the Fed announcement, traders may continue adjusting their positions. As interest rates are expected to stay on hold, attention will turn to Fed Chair Kevin Warsh’s post-meeting press conference for indications of the central bank’s monetary policy direction.

In an analysis report sent by email, Crypto Finance said: “We expect rates to remain unchanged, so the focus will be on the dot plot and any shift in the forward path,” adding: “Markets currently price a ~90% probability of a skip, followed by a December hike and two further hikes by year-end 2027, taking the target range to 4.50–4.75%.”

Further evidence of fading demand for digital assets comes from the Fear & Greed Index, which now reads 48 in Neutral territory. That compares with 55 in the Greed range last week and 70 in the Greed zone last month. Should the trend continue, major cryptocurrencies may struggle to sustain elevated prices, with Bitcoin likely to revisit structural and psychological levels towards $75,000.

Bitcoin technical analysis: Bears seek control of BTC’s trend

At $79,795, Bitcoin continues to show a bearish near-term bias, with the 50-day Exponential Moving Average (EMA) at $80,761 limiting its advance. The broader trend nevertheless retains a constructive undertone as the latest leg consolidates: the price is still above the 100-day EMA at $77,725 and the 200-day EMA at $76,375.

Immediate underlying demand comes from the SuperTrend line at $79,664, just beneath the spot price. Meanwhile, a Relative Strength Index (RSI) reading of 40 and a negative Moving Average Convergence Divergence (MACD) histogram point to fading momentum following the recent highs.

The first resistance level is the 50-day EMA at $80,7602. Only a daily close above it would soften the prevailing bearish bias and clear the way for a return towards the recent peak area.

The current trading area around $79,795 provides a very short-term floor, backed by nearby SuperTrend support at $79,664. Losing this support cluster would bring the 100-day EMA at $77,725 into view, followed by the 200-day EMA at $76,375. At these deeper support levels, buyers would be expected to re-establish the broader uptrend.

Ethereum technical analysis: ETH remains exposed to further selling

Trading at $2,312, Ethereum remains below all its major moving averages and the SuperTrend baseline, keeping the near-term outlook bearish. The price is just beneath the 200-day EMA at $2,316. Higher up, the 100-day EMA at $2,362 and the level near $2,362 where the previous rising trendline broke reinforce an overhead supply zone.

Although the pair is stabilising above recent lows, momentum remains fragile. The RSI is close to the lower 30s and the MACD line is negative, indicating continued downward pressure.

The 200-day EMA near $2,316 provides the first resistance, followed by a stronger cluster around $2,362. At that level, the convergence of the 100-day EMA and the broken ascending trendline could restrict rebounds.

Beyond that cluster, the 50-day EMA at $2,453 and the SuperTrend line at $2,566 present further obstacles. Both would need to be regained to temper the broader bearish outlook. The daily chart offers no clearly defined support beneath the current price, so a sustained move below $2,312 would leave ETH exposed until it finds fresh demand at lower levels not shown here.

Ripple technical analysis: XRP struggles against strong headwinds

With XRP trading at $1.30 beneath every major moving average and the active SuperTrend line, the near-term bias remains bearish. Overhead are the 100-day EMA at $1.33, the 50-day EMA at $1.36 and the 200-day EMA at $1.37. A broader descending resistance trendline also continues to constrain gains.

An RSI close to 40 and a still-negative MACD signal weak momentum, though not oversold conditions. Together, they suggest ongoing downward pressure rather than a bullish reversal in the immediate future.

The 100-day EMA around $1.33 is the first resistance to watch, ahead of the 50-day EMA near $1.36 and the 200-day EMA at $1.37. These levels form a dense supply zone alongside the descending trendline barrier. Further away, the SuperTrend level at $1.45 represents a structural obstacle that would need to be regained to temper the broader bearish outlook. Below $1.30, clearly defined nearby supports are absent, leaving fresh selling able to drive prices quickly lower until a new demand zone forms on the chart.

(The technical analysis of this story was written with the help of an AI tool. Know more.)