Cryptocurrency markets showed signs of stabilization near critical technical support levels following last week’s broad correction. Bitcoin (BTC), Ethereum (ETH), and Ripple’s XRP are all hovering around pivotal price zones that could determine their next major move. Traders and investors are closely watching these levels as momentum indicators signal uncertainty across the board.
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Bitcoin Holds Near $105K After Breaking Key Support
Bitcoin stabilized around the $105,000 mark on Monday after closing below its key support level of $106,406 earlier in the week. Despite briefly dipping under this critical threshold, BTC rebounded to retest its 50-day exponential moving average (EMA) at $102,893 before regaining footing near $105,788 by early Monday.
A failure to reclaim the $106,406 resistance could open the door for further downside pressure, potentially pushing Bitcoin toward the psychologically significant $100,000 level. This zone has historically acted as both strong support and resistance, making it a crucial benchmark for market confidence.
On the daily chart, the Relative Strength Index (RSI) hovers near the neutral 50 level, reflecting indecision among traders. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator shows a bearish crossover—signaling increased selling pressure and a potential continuation of the downward trend.
However, if bullish momentum returns and Bitcoin sustains a close above $106,406, the path may clear for a renewed rally toward higher resistance levels. For now, consolidation appears likely as the market weighs macroeconomic factors and on-chain data trends.
Key Levels to Watch:
- Support: $102,893 (50-day EMA), $100,000 (psychological level)
- Resistance: $106,406 (recent breakdown point), $110,000 (next major upside target)
Ethereum Tests Support at $2,461 Amid Bearish Signals
Ethereum struggled to maintain gains above its consolidation boundary at $2,724 last Thursday, leading to an 8.69% drop by Saturday. The dip brought ETH close to its lower consolidation boundary at $2,461—a level that has so far provided temporary support.
As of Monday, Ethereum continues to trade just above this zone. However, sustained weakness could lead to a breakdown below the 50-day EMA at $2,429. Should that occur, the next major support lies at $2,000—a level that previously served as strong demand during earlier cycles.
The daily RSI remains near 50, indicating balanced but uncertain sentiment. Like Bitcoin, Ethereum’s MACD has formed a bearish crossover, reinforcing downward momentum and caution among traders.
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Still, a successful defense of the $2,461 level could spark a recovery attempt back toward the upper end of the consolidation range at $2,724. Until then, sideways action or further pullbacks remain possible.
Key Levels to Watch:
- Support: $2,461 (lower consolidation boundary), $2,429 (50-day EMA), $2,000 (major psychological support)
- Resistance: $2,724 (upper consolidation boundary), $3,000 (next upside milestone)
XRP Faces Downward Pressure After Breaking Below 50-Day EMA
Ripple’s XRP closed below its 50-day EMA at $2.24 on Thursday, followed by a nearly 6% decline over the weekend. Although it saw a minor rebound of 1.22% on Sunday, XRP remained close to the critical $2.24 level as of Monday’s analysis.
A rejection at this moving average could trigger another leg down toward the next daily support at $1.96—an area that may attract buying interest if reached.
Technical indicators paint a bearish picture for XRP. The daily RSI sits at 45—below neutral and trending downward—suggesting growing bearish momentum. Additionally, the MACD has confirmed a bearish crossover, aligning with broader negative price action.
If buyers step in and push XRP back above the 50-day EMA at $2.25, a short-term recovery could unfold. However, without strong volume-backed buying pressure, the risk of deeper correction remains elevated.
Key Levels to Watch:
- Support: $2.24 (50-day EMA), $1.96 (next support zone)
- Resistance: $2.25–$2.30 (retest zone), $2.50 (intermediate upside target)
Frequently Asked Questions (FAQ)
Q: What does it mean when a cryptocurrency closes below its 50-day EMA?
A: A close below the 50-day Exponential Moving Average often signals weakening momentum and potential trend reversal. It suggests that short-term selling pressure is overpowering buying interest, increasing the likelihood of further declines.
Q: Why is the $100,000 level important for Bitcoin?
A: The $100,000 mark is a major psychological and technical benchmark. It acts as a market sentiment gauge—breaking below it may trigger stop-loss orders and negative headlines, while holding above can reinforce bullish confidence.
Q: Can Ethereum recover if it stays above $2,461?
A: Yes. The $2,461 level marks the lower boundary of its recent consolidation range. Holding above it increases the chances of a rebound toward $2,724 or higher, especially if buying volume returns.
Q: Is XRP likely to drop to $1.96?
A: While not guaranteed, technical indicators suggest downside risk is high. A sustained break below $2.24 increases the probability of testing $1.96, particularly if broader market sentiment remains weak.
Q: How reliable are MACD and RSI signals in crypto trading?
A: These indicators are widely used but work best when combined with price action and volume analysis. In volatile markets like crypto, false signals can occur—so always use them within a broader analytical framework.
Q: What should traders watch for in the coming days?
A: Focus on whether BTC holds above $105K, ETH defends $2,461, and XRP regains its 50-day EMA. Daily closing prices will be more telling than intraday fluctuations.
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Final Thoughts
Bitcoin, Ethereum, and XRP are all at inflection points where small price movements could lead to larger trends. While short-term indicators lean bearish due to MACD crossovers and RSI neutrality or weakness, key support levels continue to hold—for now.
Traders should monitor daily closing prices closely, as they often carry more weight than intraday volatility. A sustained break above resistance or below support could set the tone for the next phase of market movement.
With macro conditions remaining uncertain and on-chain activity evolving rapidly, staying informed and using disciplined risk management is essential.
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