During the Christmas holiday period, trading activity in the crypto market has cooled down. Bitcoin fluctuated between 85,500 and 94,000, lacking a breakout. Ethereum faced selling pressure below $3,000, with $2,600 serving as a key support level. Ripple remains stable at $1.86, with market sentiment determining its trajectory. Overall, the market is cautious with a strong wait-and-see attitude.

Leading virtual asset giants in the exchange market all turned to an upward trend on Wednesday. In particular, the technical recovery signals shown by Ethereum(ETH), Bitcoin(BTC), and Ripple(XRP) are stimulating market participants' risk appetite. Ethereum Breaks Free from 'Downward Spiral' The most dramatic change was seen in Ethereum. It surged 6.21% on Tuesday, clearly breaking through the downward trend line that had persisted since October 7. Currently, ETH is fighting for supply and demand near the 50-day exponential moving average(EMA) around the 2.94K level. If this price level is maintained, the next resistance is at $3,592.

The recent market shakeout has left Bitcoin, Ethereum, and XRP at critical junctures. While the immediate selling pressure appears to be easing, these three major cryptocurrencies are now testing whether they can establish sustainable support or face another leg lower. Here's what the technical