Crypto Assets Today: Bitcoin, Ethereum, and XRP face pressure after recent Rebounds:

Bitcoin trading is close to $114,000, stabilizing after a week of initial turbulence.
Ethereum suggests a bullish takeoff in an ascending channel pattern.
XRP from Ripple remains stable above a key support level, with the bull market aiming to reclaim $3.00.
Bitcoin (BTC), Ethereum (ETH), and XRP (XRP) remained stable during Thursday's press release, following slight fluctuations after the Federal Open Market Committee (FOMC) minutes released on Wednesday. These meetings set the tone for the Jackson Hole Economic Policy Symposium in the U.S., which began on Thursday and focuses on the transformation of the labor market.
In addition, the market is looking forward to Federal Reserve Chairman Jerome Powell's speech at Jackson Hole on the following day, ( Friday ), as there may be a 25 basis point rate cut in September.
Bitcoin is trading near the $114,000 level, holding at a key support level, forming a death cross pattern on the 4-hour chart. On the other hand, Ethereum is preparing to rebound within an ascending channel pattern, while XRP is struggling to reclaim the $3.00 level.
Bitcoin is facing increasing pressure in the deadlock.
Bitcoin is moving sideways above the $111,980 support level on the 4-hour chart, following a sharp pullback earlier this week. The downtrend has caused a death cross pattern to form between the 50-period and 200-period exponential moving averages (EMAs).
The Relative Strength Index ( RSI ) is at 39 on the 4-hour chart, steadily positioned above the oversold boundary line, indicating increased selling pressure. However, the Moving Average Convergence Divergence ( MACD ) has broken through its signal line, showing a rise in bullish momentum.
If Bitcoin breaks below the support level of $111,980, it could extend the decline to $108,779, which is the low from July 4.
On the contrary, Bitcoin's rebound may aim for the 50-period EMA, targeting $116,010.
Ethereum aims to take off within a bullish channel.
Ethereum remained stable on Thursday, maintaining a 6.39% increase from the previous day. The largest altcoin by market capitalization rebounded from the support trend line of the ascending channel pattern on the daily chart, as shared below (.
The reversal target within the bullish parallel channel is the historical high of $4,868, followed by the upper resistance trend line close to the psychological barrier of $5,000.
The momentum indicator is sending mixed signals as traders' potential confidence declines. On the daily chart, the RSI remains at 57, parallel to the midpoint, with buying pressure holding steady. However, the MACD fell below its signal line on Tuesday and continues to decline, indicating that bearish momentum is strengthening.
On the other hand, if Ether reverses at the Jackson Hole Economic Policy Symposium, it may extend the decline to the lower boundary of the ascending channel, close to $4,094.
XRP faces further loss risks in quicksand.
During Thursday's press conference, Ripple's XRP fell over 1.50%, retreating from the 50-day EMA of $2.94. This cross-border remittance token remains above the 38.2% Fibonacci level of $2.85, which is drawn from the low of $1.90 on June 22 to the high of $3.66 on July 18.
Breaking below this level may further lead to XRP falling to the 100-day EMA at $2.73.
The momentum indicators on the daily chart are still influenced by bearish momentum. The decline of the MACD and its signal line is approaching the zero line, indicating that bearish momentum is increasing. Additionally, the RSI is at 43 and is sloping downwards as buying pressure continues to decrease.
Looking up, XRP should reclaim the 50-day EMA at $2.94 to strengthen the bullish trend, with a potential target of the $3.34 resistance level, the last test was on August 14.
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