Bitcoin and Ethereum Lose Momentum as Bears Test Support

Bitcoin and Ethereum are starting to lose their short term momentum after putting together solid rallies during the month of August. Traders are noticing a shift in market sentiment as selling pressure begins to pick up pace across the board.

At the same time, popular altcoins like XRP and Shiba Inu are currently testing important support levels. How these assets hold up at these technical floors will likely dictate the short term direction for the rest of the crypto market.

Market participants should keep a close eye on these support zones over the next few sessions. If bears manage to break through, we could see deeper pullbacks before any new recovery attempts begin.