Price prediction for the top 3 cryptocurrencies: BTC, ETH, and XRP adjust after failing to break through a key resistance level.

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are currently maintaining a stable status in Wednesday afternoon trading, as the market's excitement gradually cools after several rejections at key resistance zones. As of now, BTC and ETH have respectively fallen more than 1% and 4% this week, while XRP is going against the trend, increasing by 1.5% despite recent adjustment pressures. Momentum indicators suggest that buying strength is weakening, raising concerns that the prices of these top three cryptocurrencies may face additional downward pressure in the near future.

Bitcoin falls to 103,000 USD after being rejected at an important resistance zone

The price of Bitcoin had a slight rebound at the beginning of the week, testing the important resistance zone at 106,453 USD — corresponding to the 38.2% Fibonacci retracement level — before reversing and falling 2.78% in the next session. As of Wednesday afternoon, BTC is hovering around the 103,000 USD mark, indicating that cautious sentiment still prevails in the market.

If the adjustment continues, Bitcoin may further retreat to the key support zone at 100,353 USD – a level that could act as a “lifeline” for the bulls in the short term.

The daily BTC/USDT chart | Source: TradingViewThe relative strength index (RSI) is currently at 41, below the neutral threshold of 50, reflecting a slight advantage for the bears. However, the lines of the MACD indicator are gradually converging, indicating that selling pressure is showing signs of weakening and the market is entering a phase of indecision.

On the contrary, if BTC can close the session above the Fibonacci retracement level of 38.2% at 106,453 USD, this coin could extend its recovery phase, aiming towards the 50-day exponential moving average (EMA) around the zone of 109,698 USD — which is considered the next barrier determining the medium-term trend.

Ethereum adjusts after testing the resistance zone of 3,592 USD

The price of Ethereum (ETH) found technical support around the 50% Fibonacci retracement level at 3,171 USD on November 5, before bouncing back nearly 5% in the following days. However, the rapid recovery was quickly halted as ETH faced strong selling pressure at the resistance zone of 3,592 USD on Monday, pulling the price down by 4.2% in the next session. As of the time of writing, ETH is fluctuating around the mark of 3,425 USD.

If the adjustment pressure continues, ETH may return to test the support zone of 3,171 USD — coinciding with the 50% Fib retracement level, considered a key threshold to maintain the medium-term uptrend.

ETH/USDT daily chart | Source: TradingViewSimilar to Bitcoin, the RSI indicator of Ethereum is signaling weakness, indicating that the upward momentum is losing steam, while the MACD reflects market sentiment in a state of hesitation.

On the contrary, if the price recovers and closes the day above 3,592 USD, ETH could regain its upward momentum and head towards the next resistance zone around the 50-day EMA, corresponding to the level of 3,868 USD.

XRP may recover if it maintains support at 2.35 USD

The price of XRP kicked off the new week with an exciting increase of 6.75%, bringing this coin to test the 50-day EMA around the mark of 2.55 USD. However, the attempt to break through was quickly halted on Tuesday when the bulls could not penetrate the aforementioned resistance level. As of Wednesday afternoon, XRP is fluctuating around 2.39 USD, just a short distance away from the key support zone at 2.35 USD.

If the $2.35 mark continues to be maintained, XRP may regain its upward momentum and aim to retest the 50-day EMA line at $2.55.

XRP/USDT daily chart | Source: TradingViewTechnically, the RSI indicator has slightly dropped to 47 – below the neutral threshold of 50 – indicating that the upward momentum is weakening. Nonetheless, the bullish crossover signal of the MACD formed earlier this week is still maintained, implying that the overall upward trend has not been broken.

Conversely, if XRP closes below the threshold of 2.35 USD, selling pressure may increase, pushing the price further back to the next support zone around 1.96 USD.

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