Top 3 Price Forecasts: Bitcoin, Ethereum, Ripple – BTC strengthens as selling pressure eases on ETH and XRP

• At around $83,000 on Wednesday, Bitcoin is extending the modest recovery from its 50-day EMA at $80,796 seen the day before.
• The 50-day EMA at $2,480 continues to limit Ethereum’s upside, although bearish momentum is fading.
• Following a rise of over 2% the day before, Ripple is steady at $1.33, pointing to a reduction in downside pressure.

A modest recovery following the previous day’s bullish close has left the top three cryptocurrencies, Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), steady on Wednesday. With prevailing selling pressure subsiding, the rebound suggests the rally could continue.

Bitcoin positions for a bullish reversal

At $82,930 on Wednesday, Bitcoin retains a near-term bullish bias after the previous day’s modest recovery. A supportive backdrop remains in place for the leading cryptocurrency, which trades above both its 50-day Exponential Moving Average (EMA) at $80,769 and its 200-day EMA at $76,090.

On the daily chart, the Moving Average Convergence Divergence (MACD) is close to moving above its signal line, indicating that bearish momentum is fading. Meanwhile, the Relative Strength Index (RSI), at around 52, points to neutral conditions.

Should BTC’s recovery continue, the first resistance could come at $89,337, the 78.6% Fibonacci retracement level. Beyond that lies the cycle-high region marked by the 100% retracement at $97,924; the lower anchor is $57,800.

The 50-day EMA near $80,769 provides the nearest downside support. Further demand lies around the 200-day EMA at $76,090 and the 50% Fibonacci level at $77,862.

Ethereum seeks a break above the 50-day EMA

At $2,449, Ethereum remains constrained below its 50-day EMA at $2,480, though it continues to trade above the 200-day EMA at $2,326.56. These contrasting trend signals suggest consolidation within a wider bullish structure, while the near-term balance remains tilted towards the downside.

With the MACD line now just below its signal line in negative territory and the RSI around 43, both indicators point to weakening downside momentum. This supports the view that Ethereum is undergoing a corrective phase.

A sustained close above the nearest resistance, the 50-day EMA at $2,480, would reduce the current bearish bias. It could also clear the way for a move towards higher levels, including the highs of 21 August and 21 September at around $2,546 and $2,807, respectively.

On the downside, the 200-day EMA near $2,326 offers support for the major altcoin, with buyers likely to defend the broader uptrend there. A clear break beneath that level would indicate a deeper retreat towards the 21 May high of $2,157.

Ripple holds firm after its rebound

After recovering more than 2% the day before, Ripple is steady at $1.333. However, its position below the 50-day EMA at $1.3748 and the 200-day EMA at $1.3954 suggests the broader uptrend is weakening. The break beneath the rising support trendline at $1.3594 also limits the scope for gains.

The June 15 high at $1.2941 marks a horizontal level where near-term bullish support is holding. For XRP to restore an upward trend, it needs to regain the 50- and 200-day EMAs at around $1.3748 and $1.3954, respectively. Doing so could alleviate the prevailing downside pressure.

The momentum indicators are consistent with this constrained outlook. At 42, the RSI remains in the lower half of its range, while the MACD is approaching its signal line as the negative histogram diminishes, suggesting selling pressure is easing.

A sustained break beneath $1.2941 could bring further losses towards the 8 June high at $1.1866.

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