Crypto Rally Pauses as BTC, ETH and Ripple Hit Barriers

Key Moments

• Bitcoin (BTC) trades near $78,760 on Wednesday, holding a bullish tone but struggling to clear the $80,000 barrier.
• Ethereum (ETH) consolidates above $2,400 and below the $2,500 zone, with price anchored above both the 50-day and 200-day EMAs.
• Ripple (XRP) trades around $1.4397, down 5% so far this week, as profit-taking emerges near the $1.50 psychological level.

Broad Market Overview

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are retreating from recent highs as last week’s double-digit surge loses steam. The current pullback reflects a short-term corrective phase, with traders locking in gains near prominent psychological and technical barriers.

Bitcoin Holds Above Key Fibonacci Support

Bitcoin is trading around $78,760 at press time on Wednesday, preserving a generally positive setup after last week’s 23% advance. The BTC price remains above the 78.6% Fibonacci retracement level at $77,489, calculated from the downswing between $82,850 and $57,800.

Upside progress is being constrained near the $80,000 psychological level, which stands in front of the $82,850 swing high. A decisive move through these resistance areas would clear the way toward the 127.2% Fibonacci extension at $89,663, positioned close to the $90,000 mark.