The cryptocurrency market started this week on a cautious note as major coins—Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP)—struggled to hold ground after getting rejected at critical resistance levels. This rejection has injected a fresh wave of uncertainty into an already volatile market, raising fears of deeper corrections in the short term.
Bitcoin Falls Below $94,000 After Failing to Break $97,700 Resistance
Bitcoin, the largest cryptocurrency by market cap, attempted to reclaim its daily resistance level of $97,700 on Friday, but the bulls failed to maintain momentum. Following the rejection, BTC shed approximately 3% over the weekend and is now trading near $94,000 as of Monday.
What's Next for Bitcoin?
Bearish Outlook: If the downward trend continues, BTC may test the next significant support level at $90,000—a psychologically important mark that could decide the next market direction.
Bullish Possibility: On the flip side, a decisive move above the $97,700 resistance could ignite a fresh rally, aiming to test the monumental psychological barrier at $100,000.
This zone between $90K and $97.7K is now acting as a critical battlefield between bulls and bears. A clear breakout or breakdown will likely define the medium-term trend for Bitcoin.
Ethereum Drops After Rejection at $1,861: Is a Retest of $1,700 Coming?
Ethereum mirrored Bitcoin's rejection pattern. On Friday, ETH approached its daily resistance level of $1,861 but couldn't break through. It has since declined nearly 1.87% over the weekend, now trading close to $1,795.
Key Levels to Watch:
Downside Risk: If ETH fails to hold above current levels, it may revisit $1,700, a crucial psychological and historical support zone. A break below this could open the door for a deeper correction toward $1,449.
Upside Momentum: On the other hand, a successful breach and daily close above $1,861 could renew bullish momentum, targeting the $2,000 mark—a level watched closely by traders as a key milestone.
With Ethereum facing increasing pressure from bearish sentiment, the next few trading sessions will be critical to determine whether the bulls can reclaim control.
Ripple Slips Below 50-Day EMA, Bears Eye $1.96
Ripple (XRP) showed early signs of weakness after it slipped below its 50-day Exponential Moving Average (EMA) at $2.20 over the weekend. Following the drop, XRP fell an additional 2.26% and is currently trading around $2.14.
Support and Resistance Outlook:
Bearish Scenario: If XRP continues to decline, the next key support lies at $1.96. Falling below this level could trigger more selling pressure and extend the downtrend.
Bullish Scenario: However, if XRP regains momentum and breaks back above $2.20, it may stage a comeback toward the $2.50 high from March 24, with a potential rally up to $3.00 in the longer term.
This dip below the 50-day EMA is often seen as a bearish signal in technical analysis, but a quick recovery above it could signal a "fakeout" and invite buyers back into the market.
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Market Sentiment: Fear or Opportunity?
The simultaneous rejection from key resistance levels in Bitcoin, Ethereum, and Ripple suggests that the broader market is entering a critical decision phase. While short-term price action appears bearish, long-term investors may view this as a potential buying opportunity—especially if these corrections find strong support levels.
Key Takeaways:
Bitcoin must reclaim $97,700 to resume its uptrend; otherwise, $90,000 could be tested.
Ethereum is in danger of slipping toward $1,700 if bulls don’t step in soon.
Ripple’s weakness below its 50-day EMA adds pressure, but $2.20 remains the level to beat for a bullish reversal.
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Conclusion: A Waiting Game for the Bulls
All eyes are now on the support zones as bulls regroup after being rejected at major resistance levels. The crypto market remains on shaky ground, and the next few days will be crucial. Whether this is a healthy correction or the start of a deeper downtrend will depend heavily on volume, sentiment, and macroeconomic cues.
Stay tuned, and trade wisely—because in the world of crypto, fortunes can change in a blink.
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