• Bitcoin trades at $76,154 on Friday after closing below the 200-day EMA around $76,497, signaling bearish bias.
• Ethereum trades at $2,237 after rejecting the previously broken ascending trendline, keeping downside risks elevated.
• XRP trades at $1.22 after failing to close above the key EMA resistance.

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) face renewed selling pressure in the second half of this week amid concerns that Democrats’ control of both chambers of the US Congress could lead to tighter crypto and Artificial Intelligence (AI) regulations.

These top three cryptocurrencies struggle to overcome key resistance zones, with BTC closing below its 200-day Exponential Moving Average (EMA). Meanwhile, ETH and XRP also face rejection at key resistance levels, hinting at the risk of a deeper correction ahead.

Bitcoin hints at further losses as it closes below 200-day EMA

Bitcoin price trades at $76,157 on Friday, extending a corrective phase below its key Exponential Moving Averages (EMAs) and keeping the bearish near-term bias. 

BTC remains under the 200-day EMA at $76,497, with the 100-day EMA at $77,778 and the 50-day EMA at $79,837 stacked overhead, suggesting a market that is capped by a dense band of medium- and longer-term trend resistance. 

Momentum aligns with this tone as the Relative Strength Index (RSI) hovers in the upper-30s. At the same time, the Moving Average Convergence Divergence (MACD) stays negative, hinting that rallies are vulnerable to renewed selling.

On the topside, initial resistance is seen at the 200-day EMA near $76,497, followed by the 100-day EMA at $77,778 as a secondary barrier. Further up, the 50-day EMA at $79,837 guards a higher layer of supply, ahead of the horizontal resistance level around $85,000. With no clearly defined support levels in the immediate data set, any pullback would likely seek a new floor below spot. At the same time, recovery attempts should struggle as BTC holds beneath this moving-average cluster.

Ethereum risks deeper correction

Ethereum price trades at $2,237 on Friday, extending a corrective phase below its major EMAs and retaining a bearish near-term bias. ETH sits under the 200-day EMA at $2,315 and the 100-day EMA at $2,348, with the 50-day EMA further overhead at $2,397, suggesting rallies remain capped by layered trend resistance.

The RSI near 39 hints at weak momentum, while the MACD has flipped marginally positive, indicating that any upside attempts are still struggling against prevailing overhead supply.

On the topside, initial resistance is seen at the 200-day EMA at $2,315, followed by the 100-day EMA at $2,348. Above there, the 50-day EMA at $2,397 aligns with a horizontal barrier at $2,400, forming a dense cap ahead of the broken rising trendline level near $2,412; a sustained move over this cluster would ease the current bearish tone and open the way toward the next key hurdle at $2,770.

On the downside, immediate support is essentially the current price zone, with a more significant structural floor at $1,823, where a break would expose deeper losses in the broader correction.

XRP bears maintain control

XRP trades at $1.221 on Friday, maintaining a bearish near-term tone as it remains below the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs) clustered between $1.320 and $1.375. 

XRP has also failed to reclaim the upper trendline of the falling channel, now projected near $1.257. At the same time, momentum remains soft, with the RSI hovering around 38 and the MACD indicator slightly negative near the zero line, which together hint at capped upside rather than a decisive recovery.

On the topside, initial resistance is located at the upper channel trendline area around $1.257, followed by the horizontal barrier at $1.300, with the 100-day EMA at $1.320 and the 50-day EMA at $1.326 forming a heavier supply zone overhead; further up, the 200-day EMA at $1.375 and subsequent horizontal levels at $1.540 and $1.900 define medium-term hurdles.

On the downside, support is first seen at the horizontal level of $1.160, ahead of a more substantial floor at $1.000, and as long as price holds beneath the clustered moving averages, rebounds into resistance are likely to be viewed as corrective within the broader bearish bias.