Bitcoin, the world’s largest cryptocurrency, slipped to around $77,300 after failing to maintain its rally above the $80,000 to $81,000 zone. A short-term correction has now set in as BTC con
Bitcoin, the world’s largest cryptocurrency, slipped to around $77,300 after failing to maintain its rally above the $80,000 to $81,000 zone. A short-term correction has now set in as BTC continues a pattern of lower highs following its recent peak. Analysts highlight the $76,000 to $77,000 band as a critical support level as technical momentum indicators continue to weaken.
On the daily chart, Bitcoin is displaying subdued momentum following a strong August breakout. Key dynamic support is seen near $75,967, while the main moving averages—at $72,863, $70,675, and $70,417—sit further below, providing deeper fallback levels in the event of continued selling pressure.
Despite recent downside, the structure set by Bitcoin’s August rally remains technically intact. However, the RSI has dropped to about 55.5 after overheating in overbought territory, and its position below the signal average of 66 signals waning momentum.
Should BTC slide below $76,000 to $77,000, traders will look to the $72,800 to $73,000 area for more durable support. Conversely, any convincing recovery above $79,000 could set up another move toward $80,000 or higher.
Traders see the $76,000 to $77,000 area as crucial for Bitcoin’s short-term outlook, emphasizing that a loss of this level could bring further downside risk.
Market participants also note a rise in bond yields and oil prices leading up to key U.S. inflation data and next week’s Federal Reserve decision.
Ethereum remains in a consolidation phase after surging from around $1,900 to over $2,500 in August. ETH is currently priced at $2,441, well above its major moving averages at $2,190, $2,148, and $2,115, but facing resistance at the $2,500 to $2,560 band. The dynamic support region is at $2,362, helping maintain the post-breakout structure.
Reuters has described the current Ethereum pattern as a potential bull flag, though momentum is fading as the RSI has contracted from overbought levels to approximately 58. The repeated inability to break above $2,500 and a sliding RSI underline short-term challenges for bulls.
Analysts suggest that holding support between $2,360 and $2,400 is key for Ethereum to preserve its positive setup, while a daily close beneath $2,350 could lead to a sharper correction.
A close above $2,560 may clear a path to $2,600 and higher resistance levels. Investors will also be watching for U.S. CPI data, which could influence market direction.
XRP, issued by Ripple Labs, has pulled back to trade at $1.36, retreating from recent highs following its August surge above $1.50. The token is now testing a vital technical zone between $1.33 and $1.36, with its long-term moving average at $1.355 and short-term dynamic support hovering near $1.337.
After reaching $1.70 in August, XRP buyers have been unable to sustain a move above $1.50, with subsequent lower highs observed at $1.45, $1.43, and $1.41. The RSI, now around 53.5, has dipped below its signal average, reflecting reduced momentum but remaining in neutral territory.
If XRP closes below $1.33, technical analysts see scope for a correction toward $1.24 or even test deeper moving averages at $1.21. Bulls need to reclaim the $1.40 to $1.42 zone to regain positive traction, with another push above $1.45 required to revisit late-August highs.
Shiba Inu (SHIB) has weakened after falling about 3.2%, currently trading near $0.00000509. The loss of a key rising trendline, established since late August, marks a shift in SHIB’s recovery narrative. The token is now resting on immediate support between $0.0000049 and $0.0000050, with moving averages clustered at $0.00000517, $0.00000504, and $0.00000494.
Momentum has deteriorated, as evidenced by an RSI at 48.2—below both its signal average of 54.8 and the neutral 50 threshold. SHIB’s primary resistance sits between $0.00000565 and $0.00000570, a level it failed to decisively breach during the August spike.
A breakdown below $0.0000049 could open the door to $0.0000046 or the August base at $0.0000044. For a meaningful recovery, the token must reclaim $0.0000053, while overcoming $0.0000056 to $0.0000057 remains necessary for a sustained bullish shift.
AssetCurrent PriceKey SupportMajor ResistanceRSIBitcoin (BTC)$77,300$76,000–$77,000$80,000–$81,00055.5Ethereum (ETH)$2,441$2,360–$2,400$2,500–$2,56058XRP (XRP)$1.36$1.33–$1.36$1.45–$1.5053.5Shiba Inu (SHIB)$0.00000509$0.0000049–$0.0000050$0.00000565–$0.0000057048.2The post Bitcoin falls to $77,300, Ethereum and XRP test key supports as momentum cools appeared first on COINTURK NEWS.
