Bitcoin tested; Ethereum breaks out; XRP’s final shot at holding $2
The market is in a state of flux as XRP walks a tightrope while Bitcoin faces mounting pressure. XRP’s chart reveals that its 100-period EMA, long considered a key midterm momentum indicator, has become the decisive battleground. After a failed breakout attempt, XRP is now consolidating around $2.27.
Just above this support zone, the 100 EMA may act as a launchpad for price advances as well as a resistance level. Meanwhile, the 50 EMA is drawing nearer, creating the conditions for a bullish crossover. Such a convergence—a miniature golden cross—could spark renewed upward momentum for XRP. However, if this support fails, the bullish scenario could collapse, likely pushing the price back to or below the $2 level. XRP’s formation in a narrowing triangular pattern only heightens the chance of significant volatility or a breakdown, especially considering the relatively low trading volume.
In the upcoming days, traders and investors should monitor how XRP reacts to these moving averages. A clear break above these levels could propel the price toward $2.50 or even $3, while failure to hold could force a retreat. Essentially, XRP has one last opportunity to remain at $2, with the convergence of the 100 and 50 EMAs potentially shifting momentum from neutral to bullish.
Bitcoin’s Pivotal Turning Point
Bitcoin, the leading cryptocurrency, is showing signs of a possible trend reversal. Trading at around $107,000, it is currently locked in a tense battle near a key local trendline that has provided steady support over the past month. Supported by both the 50 and 100 EMAs, Bitcoin had been on an upward trajectory since emerging from a consolidation phase around $96,000.
However, maintaining its position above this critical trendline is becoming increasingly challenging. Recent daily candles indicate rising selling pressure, and volume has gradually declined, suggesting a weakening of buyer momentum. If this support breaks, Bitcoin may fall into the $104,000–$96,000 range, and a further retracement toward the 200 EMA—near $90,000—could follow, undoing much of the rally observed earlier this year.
While the market is not yet overbought, RSI levels hovering between 60 and 68 signal that momentum is fading. Bitcoin now stands at a crossroads—a rebound off the trendline might extend the rally, but a breakdown could trigger liquidations and additional downward pressure.
Ethereum’s Resurgence
Meanwhile, Ethereum is staging a strong comeback compared to Bitcoin’s struggles. The asset has been steadily gaining ground, consolidating just below the $2,700 mark as it prepares for a breakout. Once trailing behind Bitcoin in previous rallies, Ethereum now displays a clear battle on the charts, with its 100 EMA highlighting a conflict between bulls and bears. A solid base of support has formed just below this level and has been tested several times over the past week.
Additionally, volume trends point to gradually increasing buying interest. The convergence of the 200 EMA and 50 EMA below the current price could set the stage for a golden cross—a traditionally powerful bullish signal. If Ethereum can sustain its current trend, it may soon break through its key resistance, with the psychological $3,000 level emerging as the next target. This breakthrough could mark the beginning of a long-term uptrend, potentially positioning Ethereum to surpass Bitcoin.
Ultimately, Ethereum’s future hinges on broader market sentiment and Bitcoin’s next moves. While a correction in Bitcoin could dampen Ethereum’s momentum, the technical setup remains favorable for continued gains if support holds firm.