Bitcoin, Ethereum, and Ripple: Are Major Pullbacks on the Horizon?

Bitcoin Faces Exhaustion After Record Highs

Bitcoin (BTC) has recently reached a staggering all-time high of $89,980, but it is currently trading around $87,500, indicating potential for a significant pullback. The Relative Strength Index (RSI) is at 80, suggesting that it is in the overbought territory, and traders should be cautious as a correction could see BTC drop about 10% to retest the $78,807 support level.

BTC/USDT daily chart
If bullish momentum continues, BTC could rally towards $99,887, the 241.40% Fibonacci extension level.

Ethereum's Rejection at Key Resistance

Ethereum (ETH) has also faced challenges, recently declining to around $3,200 after a robust rally exceeding 40%. Currently testing the $3,454 resistance level, the RSI indicates a decline with a reading of 69. A pullback could see ETH drop 6% to reach the critical $3,000 level.

ETH/USDT daily chart
Should ETH break above the $3,454 resistance, it may aim for the $4,000 psychological barrier.

Ripple's Struggle at Resistance Levels

Ripple (XRP) has recently broken through its daily resistance at $0.544 but is now declining to around $0.671 after facing rejection at a high of $0.744. The RSI reading of 73 suggests an overbought condition, indicating a potential pullback towards the crucial $0.626 support level.

XRP/USDT daily chart
If XRP can close above $0.744, it may continue to rally towards $0.854.