Major cryptocurrencies including Bitcoin, Ethereum, and XRP are exhibiting signs of potential bearish momentum amid ongoing market consolidation and volatility. Technical indicators suggest key support and resistance levels will critically influence near-term price movements across these assets.
Bitcoin recently retraced from $110,198 to $104,161, encountering significant pressure at higher levels. The 50-day Exponential Moving Average (EMA) near $102,655 now serves as crucial support for BTC. Market sentiment faces uncertainty as the Moving Average Convergence Divergence (MACD) indicator shows a bearish crossover.
Ethereum remains range-bound between $2,400 and $2,800 following a retreat from overbought conditions on the Relative Strength Index (RSI). Traders are closely monitoring immediate resistance at $2,603 and vital support at $2,400 for directional cues.
XRP consolidates around $2.14 with tightening Bollinger Bands indicating reduced volatility. Analysts warn that failure to maintain support could trigger a decline toward the $2.00 psychological level.
The mixed signals across assets reflect uncertain market momentum, prompting experts to advise disciplined risk management. Investors are recommended to vigilantly track critical price thresholds while navigating volatile trading conditions.