Bitcoin, Ethereum, Ripple: The Downward Trend Pushes BTC Below 80,000 USD, ETH Hits a 2-Year Low

The cryptocurrency market is experiencing significant volatility as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all face considerable selling pressure this week. After failing to break through important resistance levels, these three coins are showing signs of weakening, with bearish investors (bears) targeting lower prices. Bitcoin fluctuates around 83,000 USD after failing to break through 85,000 USD Bitcoin was unable to maintain its upward momentum and closed above the resistance level of 85,000 USD at the beginning of this week, indicating a clear weakening. On Friday, April 4, 2025, the price of BTC is trading around 83,000 USD, slightly down from the previous session. Previously, Bitcoin was rejected at the Fibonacci 50% level (88.211 USD), drawn from the November low of 66,835 USD to the all-time high of 109,588 USD in January. As a result, BTC decreased by 3.10% on Wednesday, unable to surpass the daily resistance level at 85,000 USD – a critical price level coinciding with the 200-day exponential moving average (EMA 200) and a downtrend line. If Bitcoin continues to be rejected at the resistance level of 85,000 USD, selling pressure may pull the price down to the next support level at 78,258 USD. On the contrary, if BTC recovers and closes above 85,000 USD, it could pave the way for a rally towards the important psychological level of 90,000 USD. Ethereum faces its lowest level since 2023 Ethereum is also not immune to the downward trend. On Tuesday, the price of ETH increased and closed above the daily support level of 1,861 USD, but the very next day, it dropped sharply by 6% and could not maintain this level. By Thursday, ETH stabilized at 1,800 USD, but at the time of writing on Friday, the price had slightly decreased to around 1,790 USD. If the downtrend continues, Ethereum may extend its decline to the important psychological level of 1,700 USD – the lowest point ETH has not reached since October 2023. However, if ETH surpasses and is accepted at 1,861 USD, the recovery momentum could push the price up to the highest level of 2,104 USD on March 24. Ripple retests the support level of 1.96 USD, risk of hitting the annual low. Ripple (XRP) is also facing significant pressure. Last week, the price of XRP dropped by 12.40% and closed below the 100-day exponential moving average (EMA 100) at $2.30. Early this week, XRP stabilized around $2.14 but was rejected by the EMA 100 on Wednesday. By Thursday, XRP retested the daily support level at $1.96 and bounced slightly. However, on Friday, the price of XRP traded close to $1.96, indicating the fragility of this support level. If XRP continues to adjust and breaks below 1.96 USD, the price could drop to the low of 1.77 USD on February 3rd – which is also the lowest bottom this year. Conversely, if the 1.96 USD support level holds and XRP recovers, it could aim towards the previously broken EMA 100 around 2.30 USD. Summary The cryptocurrency market is currently in a testing phase as Bitcoin, Ethereum, and Ripple all face significant downward pressure. Bitcoin is hovering around 83,000 USD with the risk of dropping to 78,258 USD if it fails to break through 85,000 USD. Ethereum could hit its lowest level in nearly 2 years at 1,700 USD, while Ripple is at risk of hitting an annual low if it loses the support level of 1.96 USD. Investors need to closely monitor these important resistance and support levels to assess the next trend of the market.