The cryptocurrency market is showing notable resistance and potential retracements across major assets, as highlighted by analyst Ali Martinez in a series of recent technical updates.
Bitcoin: Rejected at $105,900
Bitcoin has faced a strong rejection at the $105,900 level, which has proven to be a significant resistance zone. After testing this upper boundary, BTC saw a sharp pullback, now hovering near $103,800.
According to Ali, key support zones lie at $103,400 and $101,300, which bulls must defend to prevent a deeper correction.
XRP: Risk of Dropping to $2
XRP is displaying a classic Head and Shoulders pattern — a technical formation that often signals a trend reversal. Currently testing critical support at $2.30, the risk of a drop to $2.00 looms if this level fails to hold. Traders are closely watching this zone as a breakdown could trigger further bearish momentum.
Chainlink: Eyes on $10
Chainlink has also encountered resistance after a recent rally. Ali noted that LINK may be heading back to $10 if bearish sentiment persists. The current rejection appears to be forming a lower high, potentially setting the stage for a continuation downward unless buying pressure re-emerges.
The broader crypto market is in a phase of testing critical levels. Whether these supports hold or give way could determine the short-term direction of major assets. Traders are advised to stay alert and monitor these zones closely, as volatility remains high.
