Bitcoin, Ethereum, and XRP wobble as Zcash defies crypto market downturn
Major cryptocurrencies are showing mixed signals as market momentum shifts. Bitcoin, Ethereum, and XRP face potential declines after failing to hold key levels, while Zcash maintains a stronger position despite recent pullbacks.
Traders are now watching critical support zones that could determine the next moves for these assets. Bitcoin’s recent rally stalled between $81,000 and $82,000 before reversing. The cryptocurrency now sits below its 20-, 50-, and 100-day moving averages, signalling weakening short-term strength. If the price breaks below the $70,000–$72,000 support range, analysts warn of a possible drop toward the mid-$60,000s.
Ethereum has also lost ground, slipping below both its 20-day and 50-day moving averages. The breakdown follows the loss of a key support cluster, leaving the next major defence at the psychological $2,000 mark. Fresh weakness in its price action suggests further downside risks if selling pressure continues.
XRP remains just above a crucial horizontal support zone near $1.30, though its prolonged consolidation inside a descending triangle raises concerns. A breakdown below this level could accelerate losses, as the asset has spent months compressing within this bearish pattern.
Zcash, however, holds a more resilient position. Despite cooling off after a strong rally, it still trades well above all major moving averages. The $500–$550 range continues to act as a solid floor, keeping the longer-term bullish trend intact for now. The cryptocurrency market is at a crossroads, with Bitcoin, Ethereum, and XRP testing vital support levels. A failure to hold these zones could lead to sharper declines in the near term. Zcash, meanwhile, remains the outlier, maintaining strength above key technical thresholds.
