In light of recent market changes, Bitcoin, XRP, and Ethereum face various technical and market challenges.
Challenges for Bitcoin's Sustainable Growth
Currently, Bitcoin is in a precarious position, where despite breaking above a local ascending trendline, the low trading volume casts doubt on the sustainability of the move. The asset may lose its hold on the recent level if it fails to gain momentum above the $85,000 to $86,000 range. In this scenario, a return to psychological levels around $80,000 is possible.
XRP Squeezes Between Moving Averages
XRP is undergoing the classic squeeze between the 50-day and 100-day exponential moving averages, which may lead to a significant price move. The level around $2.30 may serve as a starting point for a rebound toward the resistance level at $2.70. However, the declining volume indicates trader uncertainty.
Ethereum Bounces Back After Correction
After weeks of bearish pressure, Ethereum has managed to rise above the significant psychological mark of $2,000, with transactions occurring around $2,017. A key confirmation of a reversal will be a return to at least the 50 EMA level near $2,400 and an increase in volume.
Meanwhile, the cryptocurrency market continues to show significant fluctuations, indicating the potential for future changes in current trends. Traders' attention is now focused on trading activity and volume dynamics.
