BNB, ADA, XRP Weakness Persists as RSI Levels Drop and Key EMAs Break

BNB's RSI dropped to 34 on the daily timeframe, nearing oversold territory but leaving room for further downside. The 200-day EMA at $622 could provide short-term relief

BNB continued its downward spiral on Monday, as the token’s Relative Strength Index (RSI) hovered around 34 on the daily timeframe. ThisRSI reading indicated that BNB was approaching oversold territory, but there was still some leeway for further downside.

The 200-day EMA at $622 offered a potential level of short-term support. However, if BNB failed to hold this level, it could open up the possibility of a deeper correction toward $608.6, which was the 0.5 Fibonacci retracement level.

The bearish bias for BNB remained strong as long as the token stayed below the 50-day EMA at $686.4, which was now acting as resistance.

XRP’s Failure to Launch Impact on ADA, BNB

The failure of XRP to trigger a convincing breakout from its bullish technical setup served as a warning sign for further selloffs in ADA and BNB.

All three tokens were exhibiting bearish technical patterns, which were being reinforced by weakening RSI levels and breakdowns below key EMAs and Fibonacci support levels.

With macroeconomic pressures continuing to weigh on the broader market, traders and investors were advised to keep a close watch on critical support zones.

If XRP failed to find support at its 200-period EMA, it could pave the way for deeper losses across other altcoins like ADA and BNB, especially if Bitcoin continued its downward trend.

On the other hand, if the market experienced a relief rally in oversold conditions, it could offer a temporary reprieve, but it was unlikely to shift the prevailing bearish sentiment.