Bitcoin, Ethereum & XRP Brace for Volatility
- Summary:
- Bitcoin struggles near $97K as $100K resistance looms. Will BTC break out or face a deeper correction?
- Ethereum battles to reclaim $2,815 after falling to $2,719. Can ETH regain momentum, or is more downside ahead?
- XRP drops to $2.41 after recent highs. Will it recover above $2.47, or is more selling pressure coming?
The cryptocurrency market is at a crucial juncture as Bitcoin (BTC), Ethereum (ETH), and XRP navigate choppy waters following the latest macroeconomic data. The US NFP report has fueled uncertainty, with investors watching closely for the next move.
Bitcoin (BTC) Price Prediction
Current Market Action
Bitcoin is trading at $97,713, consolidating near a critical level as it struggles to regain bullish momentum. The coin has held support around $91,252, but upside movement has been capped below $100,000.
Key Support & Resistance Levels
- Immediate resistance: $100,000 – A close above this could trigger another leg up.
- Support levels: $91,252 and $82,688 – If BTC falls below these, a sharper correction may follow.
Technical Indicators
- MACD: Bearish crossover, indicating potential downside pressure.
- RSI: 50.48, showing neutral momentum, with no clear trend reversal yet.
- Volume: 1.93K BTC, suggesting lower buying pressure at the moment.
Market Sentiment
Bitcoin needs a clear breakout above $100K to regain bullish momentum. If selling pressure continues, $91K support will be a crucial zone to watch.
Ethereum (ETH) Price Prediction
Current Market Action
Ethereum is trading around $2,719, with the price recently bouncing off $2,555 support. The coin is under pressure as it struggles to reclaim the $3,000 mark.
Key Support & Resistance Levels
- Immediate resistance: $2,815 – Breaking above this could fuel a move to $3,000.
- Support levels: $2,555 and $2,315 – A drop below these could signal further downside.
Technical Indicators
- MACD: Still in bearish territory, signalling weak momentum.
- RSI: 40.32, approaching oversold conditions, which could indicate a potential bounce.
- Volume: 45K ETH, suggesting increased selling activity.
Market Sentiment
Ethereum remains in a downtrend, but a move above $2,815 could shift sentiment. Traders are waiting for confirmation before jumping back in.
XRP (Ripple) Price Prediction
Current Market Action
XRP is trading at $2.41, struggling to stay above $2.22 after a sharp pullback from its highs near $2.89.
Key Support & Resistance Levels
- Immediate resistance: $2.47 – A breakout could send XRP back to $2.72.
- Support levels: $2.22 and $1.94 – A break below could trigger further selling pressure.
Technical Indicators
- MACD: Bearish momentum remains, suggesting caution.
- RSI: 37.86, nearing oversold territory, which could lead to a short-term bounce.
- Volume: 65.97M XRP, indicating strong trading activity.
Conclusion: What’s Next for Crypto?
- Bitcoin is stuck near $97K, with $100K acting as a key psychological barrier.
- Ethereum needs to reclaim $2,815 for a potential bullish reversal.
- XRP is trying to stabilize above $2.41, but further weakness remains a risk.