Bitcoin, Ethereum, Ripple: Major support levels collapse, triggering a chain correction... Will there be a sign of recovery?

Investors ‘Where is the Bottom?’… Reasons Behind Growing Market Fear

The coordinated decline of major coins that began last week has continued throughout the week. Starting with Bitcoin, followed by Ethereum and Ripple, market leaders have recorded 8-10% drops, causing technical support levels to break one after another. More concerning is that this is not just a temporary correction but a shift in the overall trend toward a bearish outlook. Views expecting a technical rebound are clashing with concerns about entering a full-fledged bear market.

Ethereum(ETH): $3,000 Recovery as a Turning Point… Possibility of Falling to $2,749

Ethereum faced resistance at the trendline last week, experiencing a sharp 14% fluctuation. By Thursday this week, it declined over 9% further, losing the key support level of $3,017. As of December 24, it is trading around 2.95K, and some bearish analysts expect further decline to $2,749, the 61.8% Fibonacci retracement level.

This represents a retracement of a significant portion of the gains accumulated since early November. The RSI indicator remains deep in the oversold zone, making buying interest scarce, and market sentiment is extremely subdued.

However, if selling pressure eases in the mid-$2,700s, a technical rebound to relieve oversold conditions could occur. The key point is a quick recovery back to $3,017. Failure to regain this level could result in it acting as a strong resistance for the time being.

Bitcoin(BTC): Failure to defend $85,000 raises concerns of a ‘free pass’ to $80,000

Bitcoin showed weakness from early in the week. After breaking through the Fibonacci retracement level of 61.8% of the rise from the low of $74,508 to the high of $126,299, at $94,253, downward pressure increased. It hovered around the $90,000 mark, moving within a narrow range without a clear direction, attempting to defend, but then plunged 5% on Thursday to $86,637.

Currently, the price is around 87.63K as of the 24th, with a 7-day return of +1.85%. The $85,000 level remains a critical technical threshold. If this level breaks on the daily chart, the psychological support at $80,000 will become the next target. The daily RSI has fallen to 23, indicating a clear oversold condition.

Technically, this is a position where short covering or buying at low prices could occur, but the overall trend shows strong selling dominance, making caution necessary. If $85,000 holds, a short-term rebound toward $90,000 could occur, and whether the $90,000 level is regained will be the first key indicator of whether this decline is a healthy correction or the start of a full-blown bear market.

Ripple(XRP): Nearing the test of $1.77 support… aiming for $2.35 if rebound succeeds

Ripple failed to break above the 50-day exponential moving average (EMA) at $2.47 last week, falling 7%, and over four days this week, it dropped more than 10%, breaking the $2 psychological level. As of December 24, it is trading around 1.87, with a 7-day return of +0.11%, and a 24-hour low of 1.84, remaining below $1.99.

If further declines occur, $1.77 is the last technical support. The market views this zone as the final defense line for profit-taking on the mid-term rally. The RSI(32) has entered oversold territory, suggesting a potential rebound buy could come at any time, but current downward momentum is strong, so caution is advised.

Conversely, if the price stops falling near $2 and successfully rebounds, the daily resistance at $2.35 becomes the first target. Breaking this level would prove that the recent drop was merely a correction, opening the chance to re-enter an upward trend.

Conclusion: All three coins show technical sell signals… Timing of oversold conditions will determine success or failure

The levels of $85,000 for Bitcoin, $3,017 for Ethereum, and $2 for Ripple carry more than just price significance—they have technical implications. As these support levels break one after another, market fear deepens, but with RSI indicators all in oversold zones, signs of a technical rebound are gradually strengthening. The movements in the coming days will determine whether this correction remains healthy or develops into a full-fledged downtrend.