Cryptocurrency News Today: BTC, ETH, and XRP Rebound, All Exit Oversold Territory

Bitcoin, Ethereum, and XRP saw a mild rebound at the start of this week after a sharp correction last week. After plummeting over 20% last week to a low of $80,600, Bitcoin prices recovered slightly over the weekend, holding above $86,500 on Monday and currently trading above $87,700. All three major cryptocurrencies are currently holding key support levels, with the RSI indicator rebounding from oversold territory, indicating that the momentum for a rebound may continue.

Bitcoin Holds Key Support, Next Target $90,000

(Source: Trading View)

Bitcoin rebounded slightly after a significant pullback. On November 11, Bitcoin encountered resistance near $106,453 and dropped more than 20% over the past 12 days, hitting a low of $80,600 last Friday. This plunge was the most severe single adjustment for Bitcoin since its all-time high in early October, with many leveraged longs forcibly liquidated during this drop, causing peak panic in the market.

Over the weekend, Bitcoin rebounded slightly, closing above $86,830 on Sunday. As of Monday’s press time, Bitcoin is recovering, trading above $87,700. This weekend rebound pattern is common in the crypto market due to lower trading volumes and reduced volatility, making technical rebounds more likely. More importantly, the $86,500 support level held, indicating strong buying interest at this price range.

If Bitcoin continues to recover, the rally could extend to the next key resistance at $90,000. This is an important psychological threshold; a break above could open the path towards $95,000 or even $100,000. From a technical analysis perspective, there may be significant resistance near $90,000 as previous support turns into resistance, requiring strong buying momentum to break through.

The daily Relative Strength Index (RSI) stands at 30, having dipped below the oversold threshold last week. This suggests that downward pressure may be easing as bearish momentum shows signs of exhaustion. An RSI rebound from oversold territory is a classic technical rebound signal, indicating that selling pressure has been largely released. When the RSI rises from below 30, it often marks the formation of a short-term bottom.

On the other hand, if Bitcoin faces another pullback, the decline could extend to the key psychological level of $80,000. This is a major support level and a price point where many institutional investors place buy orders. If $80,000 is breached, market sentiment may turn pessimistic again, with the next support near $74,500.

Bitcoin Key Price Tracker

Current Price: $87,700 (rebounding on Monday)

Short-term Resistance: $90,000 (psychological threshold)

Upside Targets: $95,000, $100,000

Key Support: $86,500, $80,000

Extreme Support: $74,500

From a broader perspective, Bitcoin’s correction from $106,453 to $80,600 represents a 24.3% retracement. This magnitude is considered a healthy pullback in a bull market and does not break the long-term uptrend. As long as $80,000 support holds, Bitcoin remains structurally bullish.

Ethereum’s $2,749 Fibonacci Support Becomes Critical Defense Line

(Source: Trading View)

Ethereum rebounded after retesting a key support area. After breaking below its previous trendline on November 13, Ethereum faced resistance and dropped more than 18% over the next 8 days, hitting a low of $2,623 last Friday. Although this drop was less than Bitcoin’s, it still dealt a significant blow to Ethereum holders.

Over the weekend, ETH rebounded, finding support near the 61.8% Fibonacci retracement at $2,749. As of Monday’s press time, ETH is recovering, trading above $2,840. The 61.8% Fibonacci retracement is one of the most important support levels in technical analysis, known as the “golden ratio,” and often attracts heavy buying interest.

If Ethereum continues to recover, the rally could extend to the daily resistance at $3,017. This level has been tested multiple times previously, and a breakout would open up more upside potential. From a pattern perspective, Ethereum needs to break above $3,017 to confirm a short-term trend reversal.

Similar to Bitcoin, Ethereum’s RSI is rebounding from oversold territory, indicating early signs of exhaustion in downward momentum and the potential for recovery. While Ethereum’s RSI hasn’t dropped as low as Bitcoin’s 30, it still shows signs of selling pressure abating. This improvement in momentum indicators supports the technical case for a rebound.

On the other hand, if Ethereum faces another pullback, the decline could extend to the key support at $2,749. This level is critical as it’s the 61.8% Fibonacci retracement; a break below would open the way for a deeper correction. If this level is also lost, the next support is near $2,500, an important psychological threshold.

Comparing Ethereum’s performance to Bitcoin, Ethereum’s drop was slightly less severe, showing relative resilience. Typically, Ethereum tends to outperform during Bitcoin rebounds; if Bitcoin successfully breaks above $90,000, Ethereum may outperform the broader market and be the first to break above the $3,017 resistance.

XRP Strongly Rebounds After Testing $1.966 Support

(Source: Trading View)

XRP rebounded after finding support near $1.96. On November 13, XRP faced resistance near the 50-day moving average at $2.38, then dropped nearly 19% over the next 8 days, hitting a low of $1.82 last Friday. This drop was in line with the broader crypto market correction, but XRP’s decline was between Bitcoin and Ethereum, showing relative market stability.

Over the weekend, XRP rebounded slightly near the daily support at $1.966. As of Monday’s press time, XRP is recovering, trading above $2.08. This rebound has been faster than Bitcoin and Ethereum, possibly related to the upcoming launch of the Franklin Templeton XRP ETF on Monday. Anticipation of the new ETF may have fueled early buying.

If XRP continues to recover, the rally could extend to the next daily resistance at $2.35. This level is near the 50-day moving average and has been tested multiple times previously. If XRP can break and hold above $2.35, it could challenge $2.5 and even higher price targets.

The RSI stands at 41, rebounding from last week’s oversold territory, indicating bearish pressure is easing and supporting the recovery outlook. While XRP’s RSI is higher than Bitcoin’s 30, it also shows signs of rebounding from oversold levels. This improvement in technical indicators, together with actual price rebounds, increases the likelihood of continued recovery.

On the other hand, if XRP undergoes another pullback, it may continue to fall until it retests last Friday’s low of $1.82. This level is the recent absolute low and could trigger stronger buying support upon another test. From a risk-reward perspective, the current price of $2.08 offers an asymmetric trading opportunity, with an upside target of $2.35 and downside risk at $1.82.

Rebound Strength Comparison Among the Top 3 Coins

Bitcoin: Rebounded from $80,600 to $87,700 (+8.8%)

Ethereum: Rebounded from $2,623 to $2,840 (+8.3%)

XRP: Rebounded from $1.82 to $2.08 (+14.3%)

Data shows that XRP’s rebound is the strongest, possibly due to its unique catalyst (Franklin ETF launch). However, overall market sentiment remains fragile, and any rally may face short-term resistance. Investors should closely watch whether these three major coins can break through their respective key resistance levels, which will determine if the rebound is a short-term technical correction or the start of a new upward trend.