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XRP Price: Is $3 Club Closed? Ethereum (ETH): Last Chance For $4,000, Bitcoin (BTC): Is $150,000 ...
XRP's official departure from $3 was finalized today and became a bearish milestone not many were ready to see. It is currently trading at about $2.92 following a persistent and steady decline from its July peak of over $3.70. The pattern is obvious: $3 is no longer the line in the sand as it once seemed, and bulls are no longer in charge.
The 26 EMA has now been breached by the price, which is exhibiting minimal resistance to downward pressure. The fact that volume is still moderate during this correction may indicate that there is no panic, but it also indicates that there is not much buying interest. The RSI is currently hovering in the high 40s, indicating waning momentum and validating the downward trend as it dips below the neutral zone.
What does this signify for investors? First, the $3 narrative needs to be abandoned. Although holding onto that threshold blinds traders to the market's true structure, it was a crucial psychological milestone during the rally. Several retests failed to hold $3, which should be seen as evidence that this zone is now functioning as resistance rather than support. A minor historical support cluster and the 50 EMA are converging in the $2.70-$2.60 zone, which is the next area of interest.
A retest of the $2.30-$2.20 range will be in play if XRP finds support there, but it may stabilize if that level is broken. XRP's growth has waned. Clinging to the $3+ price tag will only cause rational positioning to be delayed. If buyers do not appear soon, this decline may worsen. Instead of holding onto broken price points, it is preferable to adjust to what the chart is telling you.
Ethereum takes hit
Ethereum, which peaked just below $4,000, has entered a necessary correction phase. Given the overheated RSI which, at its peak, reached 78 — a level infrequently maintained in trending markets — the recent downtrend is not totally surprising. The 26 EMA, however, is now entering the picture and could serve as the first significant support level since the start of this breakout.
Ethereum has already dropped almost 10% from the local peak and is currently trading close to $3,620. The asset is still well above its major moving averages, even though the red candles are piling up. The 26 EMA is closing in quickly. If selling pressure begins to lessen, the 26 EMA — which is positioned around $3,480 — may offer ETH a lifeline and an opportunity to consolidate rather than break down further.
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The volume profile indicates that the selling pressure is consistent but not spiking, indicating that this is more of a cooldown than a panicked surrender. Additionally, the RSI has dropped back toward 61, removing ETH from the danger zone and placing it in a more neutral position that allows for a recovery.
ETH might find a new base of support to range or build up for another leg upward if the 26 EMA holds. Conversely, the $3,000 level — which is home to the 50 EMA, which has historically been a reliable anchor in corrective cycles — would be the next area to keep an eye on if it fails. Ethereum is essentially cooling off without crashing.
The 26 EMA is a crucial technical indicator at the moment that could determine whether ETH maintains a sound correction or runs the risk of plunging further into a drawdown. The $3,480-$3,500 range should be the focus of attention in the coming days.
Bitcoin tumbles down
The $120,000 threshold, which now appears more like a ceiling than a stepping stone, has officially been lost by Bitcoin. The price has fallen more than 7% from the local peak and is currently trading at about $114,798 after failing to break through the resistance with conviction.
At least temporarily, the rejection at this psychologically significant level signals a shift in bullish sentiment. The obvious decline in momentum is more worrisome for bulls. There has been a decline in buying interest as volume has been drying up on every attempt to break $120,000. The bullish push is no longer in control, as evidenced by the Relative Strength Index (RSI), which has fallen below 60.
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The 26 EMA, which is slightly above $111,800, is the next line of defense. During the recent uptrend on Bitcoin, this level has served as dependable short-term support. Bitcoin may try to move toward resistance once more if it can recover sharply from the 26 EMA. If it does not hold, however, the correction may deepen toward the 50 EMA, which is located at about $107,000, where more robust support is probably going to be present. The level of $120,000 is out of the question for the time being.
The rejection was not only technical, but it was also supported by macro factors, such as the United States' renewed strength. Unless Bitcoin exhibits a strong reaction at the 26 EMA support, investors should prepare for consolidation or additional declines.
If there is not a significant rebound, it will be hard to support another leg up in the near future, but a bounce there might maintain the bullish structure. Let's sum up: $120,000 is history for the time being. Before investors can begin to envision new highs, Bitcoin must regain its equilibrium and maintain important support.
The 26 EMA has now been breached by the price, which is exhibiting minimal resistance to downward pressure. The fact that volume is still moderate during this correction may indicate that there is no panic, but it also indicates that there is not much buying interest. The RSI is currently hovering in the high 40s, indicating waning momentum and validating the downward trend as it dips below the neutral zone.
What does this signify for investors? First, the $3 narrative needs to be abandoned. Although holding onto that threshold blinds traders to the market's true structure, it was a crucial psychological milestone during the rally. Several retests failed to hold $3, which should be seen as evidence that this zone is now functioning as resistance rather than support. A minor historical support cluster and the 50 EMA are converging in the $2.70-$2.60 zone, which is the next area of interest.
A retest of the $2.30-$2.20 range will be in play if XRP finds support there, but it may stabilize if that level is broken. XRP's growth has waned. Clinging to the $3+ price tag will only cause rational positioning to be delayed. If buyers do not appear soon, this decline may worsen. Instead of holding onto broken price points, it is preferable to adjust to what the chart is telling you.
Ethereum takes hit
Ethereum, which peaked just below $4,000, has entered a necessary correction phase. Given the overheated RSI which, at its peak, reached 78 — a level infrequently maintained in trending markets — the recent downtrend is not totally surprising. The 26 EMA, however, is now entering the picture and could serve as the first significant support level since the start of this breakout.
Ethereum has already dropped almost 10% from the local peak and is currently trading close to $3,620. The asset is still well above its major moving averages, even though the red candles are piling up. The 26 EMA is closing in quickly. If selling pressure begins to lessen, the 26 EMA — which is positioned around $3,480 — may offer ETH a lifeline and an opportunity to consolidate rather than break down further.
card
The volume profile indicates that the selling pressure is consistent but not spiking, indicating that this is more of a cooldown than a panicked surrender. Additionally, the RSI has dropped back toward 61, removing ETH from the danger zone and placing it in a more neutral position that allows for a recovery.
ETH might find a new base of support to range or build up for another leg upward if the 26 EMA holds. Conversely, the $3,000 level — which is home to the 50 EMA, which has historically been a reliable anchor in corrective cycles — would be the next area to keep an eye on if it fails. Ethereum is essentially cooling off without crashing.
The 26 EMA is a crucial technical indicator at the moment that could determine whether ETH maintains a sound correction or runs the risk of plunging further into a drawdown. The $3,480-$3,500 range should be the focus of attention in the coming days.
Bitcoin tumbles down
The $120,000 threshold, which now appears more like a ceiling than a stepping stone, has officially been lost by Bitcoin. The price has fallen more than 7% from the local peak and is currently trading at about $114,798 after failing to break through the resistance with conviction.
At least temporarily, the rejection at this psychologically significant level signals a shift in bullish sentiment. The obvious decline in momentum is more worrisome for bulls. There has been a decline in buying interest as volume has been drying up on every attempt to break $120,000. The bullish push is no longer in control, as evidenced by the Relative Strength Index (RSI), which has fallen below 60.
card
The 26 EMA, which is slightly above $111,800, is the next line of defense. During the recent uptrend on Bitcoin, this level has served as dependable short-term support. Bitcoin may try to move toward resistance once more if it can recover sharply from the 26 EMA. If it does not hold, however, the correction may deepen toward the 50 EMA, which is located at about $107,000, where more robust support is probably going to be present. The level of $120,000 is out of the question for the time being.
The rejection was not only technical, but it was also supported by macro factors, such as the United States' renewed strength. Unless Bitcoin exhibits a strong reaction at the 26 EMA support, investors should prepare for consolidation or additional declines.
If there is not a significant rebound, it will be hard to support another leg up in the near future, but a bounce there might maintain the bullish structure. Let's sum up: $120,000 is history for the time being. Before investors can begin to envision new highs, Bitcoin must regain its equilibrium and maintain important support.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
XRP
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