Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) stabilize mid-week after correcting sharply earlier this week.
Bitcoin hovers near $92,000 after briefly slipping below $90,000 earlier.
Meanwhile, ETH and XRP are defending key support levels, suggesting a recovery in the coming days.
Bitcoin started the week on a negative note and extended its decline by 2%, closing below the 61.8% Fibonacci retracement level at $94,253.
On Tuesday, BTC dipped to $89,253 but rebounded from the key psychological $90,000 level, ultimately closing the day higher at $92,960.
As of Wednesday, BTC trades near $92,600, with a hold above $90,000 potentially opening a path toward $94,253.
Ethereum price faced rejection at the previous broken trendline around $3,592 last week and declined by nearly 14%.
ETH continued its correction at the start of this week, reaching a low of $2,946 on Tuesday, but rebounded slightly after retesting the low at $3,017.
At the time of writing on Wednesday, ETH hovers around $3,118.
If ETH finds support around $3,017, it could extend the recovery toward the key resistance level at $3,592.
XRP price found rejection from the 50-day EMA at $2.47 last week and declined nearly 7%.
XRP continued its correction on Monday, but recovered slightly the next day.
At the time of writing on Wednesday, XRP hovers around $2.21.
If XRP continues its recovery, it could extend the rally toward the 50-day EMA at $2.47.
The RSI on the daily chart is 41, near its neutral level of 50, suggesting fading bearish momentum.
For the recovery rally to be sustained, the RSI must move above the neutral level.
However, if XRP continues its correction, it could extend the decline toward the next daily support at $1.96.
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