Bitcoin, Ethereum, and XRP trade near important price levels on Wednesday, showing signs that bearish momentum is fading across the crypto market. All three assets have bounced from key support zones mid-week, suggesting that sellers may be losing strength and that a broader recovery may follow if current levels hold.

BTC Stabilizes on Wednesday as Selling Pressure Weakens

Bitcoin price hovered near $87,500 on Wednesday after enduring a four-week pullback. The cryptocurrency bounced off the $80,000 psychological level last Friday, recovered over the weekend, and closed above $88,300 on Monday. Tuesday brought a mild dip, with BTC ending the day at $87,369, before stabilizing again mid-week.

If Bitcoin extends its rebound, the next major upside target lies at $90,000. The RSI at 31 has climbed from oversold territory, signaling a slowdown in bearish pressure and hinting that downside momentum may be reaching exhaustion.

If BTC weakens again, the decline could revisit the $80,000 support zone.

ETH Holds Above Key Fib Level on Wednesday

Ethereum continued to show stabilization on Wednesday, trading near $2,900 after recovering from its recent drop. ETH was previously rejected at a broken trendline on November 13, falling over 18% and reaching $2,623 last Friday. A rebound from the 61.8% Fibonacci level at $2,749 fueled a near 7% recovery into mid-week.

If ETH maintains bullish momentum, it could retest $3,017, the next daily resistance. A confirmed break above this level would open the path toward the 50-day EMA at $3,483. Ethereum’s RSI is recovering from oversold conditions, and the MACD turned bullish on Tuesday, both signaling diminishing bearish momentum.

If sellers regain control, ETH may revisit the $2,749 Fibonacci support.

Ripple Extends Mid-Week Recovery After Channel Support Holds

XRP traded near $2.20 on Wednesday, continuing its rebound after retesting the lower boundary of its descending channel over the weekend. The asset climbed more than 14% in two days, showing strong demand at channel support.

If XRP sustains upward momentum, it may advance toward $2.35, aligning closely with the 50-day EMA at $2.37. The RSI at 47 has risen from oversold levels, indicating easing bearish pressure. Meanwhile, the MACD posted a bullish crossover on Tuesday, supporting the probability of continued recovery.

Should XRP turn lower, the price could revisit last Friday’s low around $1.82.