Crypto Today: Bearish momentum gathers pace as Bitcoin, Ethereum and XRP prolong their losing streak

• Selling pressure persists on Bitcoin near $80,000, with immediate support coming from the dynamic SuperTrend line.
• Sellers strengthen their hold on Ethereum before Wednesday's Fed rate decision, extending its decline to a fifth straight day.
• With momentum indicators weakening and gains constrained, XRP edges down below $1.30.

Selling pressure weighs on cryptocurrencies on Monday, with Bitcoin’s (BTC) five-day decline leading the broader correction. Trading near $80,000, the Crypto King continues to face structural limits on further gains. A robust cluster of medium- to long-term moving averages nevertheless supports Bitcoin, suggesting it could absorb pressure from sellers.

Sellers are gaining momentum in Ethereum (ETH) as they seek to maintain control of the trend, with the token edging down towards $2,325. Ripple (XRP), meanwhile, appears to be entering consolidation as supply at $1.30 restricts gains and curbs its recovery prospects.

Why is market sentiment weakening ahead of the Fed decision?

An unchanged interest rate in the 3.75-4.00 range remains the widely anticipated outcome of Wednesday's Federal Reserve (Fed) decision. According to CME Group’s FedWatch Tool, the probability of rates staying steady is roughly 91%, while only 9% of market participants expect an increase.

In September, the Federal Open Market Committee (FOMC) delivered its first interest rate increase in three years, raising rates by 25 basis points. It pointed to persistent inflation and pressure on Oil and energy prices arising from the war in the Middle East.

Despite the central bank's determination to meet its long-term inflation target of 2%, price growth in the world’s largest economy remains above that level. Alongside the monetary policy decision, investors will scrutinise Fed Chair Kevin Warsh’s remarks at the post-meeting conference for indications of the policy outlook. Economists are assigning a greater probability to a rate cut in December.

Demand for digital assets has become more subdued before the FOMC meeting. Reflecting that caution, the Crypto Fear & Greed Index stood at 50 within Greed territory on Monday, compared with 54 in the same range a day earlier. The broader retreat from last month’s average of 74 underlines macroeconomic and geopolitical uncertainty, alongside the absence of a sufficiently strong catalyst to sustain demand.

Bitcoin technical analysis: Can sellers maintain their grip?

Holding above the SuperTrend line at $79,664, Bitcoin retains a constructive bullish bias at its current price of $80,061. The longer-term 100-day and 200-day Exponential Moving Averages (EMAs), at $77,681 and $76,322 respectively, also remain below the price. Immediate resistance, however, comes from the 50-day EMA at $80,797, which continues to limit gains. With the Relative Strength Index (RSI) easing to 41 and the Moving Average Convergence Divergence (MACD) histogram in negative territory, the indicators suggest that bullish momentum has weakened and further near-term gains could be harder to achieve.

The first support to watch is the SuperTrend line near $79,664, followed by the 100-day EMA at $77,681 and the 200-day EMA around $76,321. Together, these levels form a wider demand zone supporting the medium-term uptrend. A decisive daily close above the 50-day EMA at $80,797 would clear the way for further gains. If BTC cannot overcome that resistance, it could consolidate or retreat to test the nearby SuperTrend support again.

Altcoins technical analysis: Can Ethereum and XRP withstand mounting selling pressure?

A bearish broader outlook persists for Ethereum, which trades at $2,322, marginally above its 200-day EMA at $2,317. The 100-day EMA at $2,363 and the 50-day EMA at $2,459 remain above the price, restricting advances. Further reinforcing the downside bias is the SuperTrend line at $2,580, well above the spot price. An RSI around 34 and a falling MACD below zero point to sustained selling pressure, with conditions moving towards oversold levels rather than signalling a recovery.

Any advance would first encounter resistance at the 100-day EMA near $2,363, followed by the 50-day EMA around $2,459. Beyond those levels, the SuperTrend line at $2,580 presents a stronger hurdle that must be overcome to indicate a more lasting bullish reversal. The 200-day EMA at $2,317 offers immediate support on the downside.

If the daily close falls below this support, a deeper correction would likely follow. Holding above it, by contrast, could give ETH room to consolidate before attempting another test of resistance in the mid-$2,300s.

At around $1.28, XRP continues to trade below its key moving averages, preserving a bearish near-term outlook. Above the price sit the 100-day EMA at $1.33, the 50-day EMA at $1.36 and the 200-day EMA at $1.37. This arrangement suggests that rallies are likely to face resistance while the wider downtrend persists.

The momentum readings add to this weakness: the MACD remains below zero despite a slight improvement, while the RSI is around 38, just above oversold territory. Together, they suggest continued downward pressure rather than a convincing rebound.

To ease the current bearish structure, XRP would need to regain a tightly grouped supply zone comprising the 100-day EMA near $1.33, the 50-day EMA around $1.36 and the 200-day EMA at $1.37. The 100-day EMA provides the first resistance. Further above, the latest SuperTrend line at $1.45 represents a more distant obstacle and aligns with the broader descending resistance trendline. That trendline continues to trace lower highs, reinforcing the prevailing negative bias for as long as the price stays below this cluster of resistance levels.

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