At the start of August, the crypto market was once again tumultuous. Mainstream coins took turns performing 'roller coasters', with sentiment oscillating and technical signals intertwined, presenting both concerns of weak growth and hidden potential for rebounds. Encountering resistance at highs, approaching key pressure, revisiting familiar signal zones, while Bitcoin is determining the fate of the second price discovery.
📉 Is it another dive? Or is it a rebound after a low point in sentiment? Whether you are a long-term holder or a swing trader lurking in the contract area, this round of market activity deserves your full attention.
XRP: Slowed down after a surge, $3.10 feels like a 'hard nut to crack'.
XRP's recent performance has been quite strong, launching from $2.82, breaking through resistance levels at $2.92 and $2.95, reaching a high of $3.106, aggressively overtaking Bitcoin and Ethereum.
However, the bulls' 'celebration' encountered a heavy blow near $3.10, the bears quickly counterattacked, and the price immediately turned back down, currently struggling to hold around $3.00. This situation is like suddenly tripping over shoelaces during a sprint; whether or not it can cross the finish line depends on maintaining the rhythm.
Currently, while the MACD is still in the bullish zone, momentum is starting to weaken, and the RSI, although above 50, lacks explosive power. If it cannot hold $3.00, the next step may be a retracement to $2.95 or even $2.92; if it breaks below, $2.88 will be the bulls' last psychological defense line.
In summary: $3.10 is XRP's 'big boss', but without breaking through, the market is unlikely to show improvement; if it truly breaks through, it may reignite market sentiment.
Solana: Bulls are gaining strength, $180 is the key level.
Solana's recent performance has not been weak, starting a rise from a low of $155, strongly crossing $160 and $162, climbing all the way close to $170.
Currently, the SOL price is above the 100-hour moving average and has broken through the previous retracement resistance level, showing significant bullish confidence. But the real challenge lies in the area above $170 — especially between $172-$180, where previous rebounds have failed and pressure has concentrated.
If it can successfully break through $180, it means the structural reversal confirmation, and market expectations will shift towards 'restarting the main upward trend', with the next target possibly aiming directly at $192, or even challenging the $200 integer level. However, if it repeatedly consolidates around $172 or even turns down to test lower levels, support levels at $165 and $162 will need to come into play. If it cannot hold $162, it may have to revisit the old range of $155-$150.
Therefore, Solana's current situation is quite delicate, with technical support for an upward breakout as well as pressure from a rapid rise in the short term facing profit-taking.
Dogecoin (DOGE): RSI is about to enter the golden rebound zone, will the 70% surge repeat?
The top dog in the meme world, Dogecoin, after a powerful rebound of 27% at the end of July, is showing some signs of fatigue, currently the price has retreated from its high to around $0.20. However, this pullback might just be the starting point for a 'new round of takeoff'.
Some analysts point out that Dogecoin's 4-hour RSI is once again approaching '30', a key value seen by the market as a starting point for rebounds. Historical data shows that whenever the RSI falls below 30, DOGE often experiences a dramatic rebound — the last time this happened was in June when DOGE rebounded over 70% from its low.
This time, although the price is notably higher than in June, the technical pattern is healthier: higher lows suggest that potential highs could also be higher. If it really rebounds by 70% again, then $0.34 could be a possible target.
But don't celebrate too early — August has never been a lucky month for DOGE. Historical backtesting shows its average decline in August is nearly 10%. It has already dropped about 5% since the beginning of this month, and if history repeats itself, then 'falling before rising' might be the right way to unlock Dogecoin.
Therefore, for DOGE, this is indeed a key observation window: a low point in sentiment combined with a technical rebound signal may provide a good mid-to-short term opportunity, but one should not be blindly optimistic.
Bitcoin (BTC): Weekly closing determines fate, bull flag lost or false break rebound?
The king BTC is currently at a critical turning point.
At the beginning of August, it broke the three-week-long oscillation structure, dipping down to $112,296, losing the previous bull flag pattern, and market sentiment became tense.
Analyst Rekt Capital points out that this breakdown may well be the key to whether BTC can continue the second round of price discovery. Specifically, $117,200 was the lower support of this bull flag pattern, and if it turns into a 'resistance level', the entire structure will be considered broken, leading the market into a deeper adjustment period.
But if Bitcoin can regain $117K within this week and steadily close bullish, then the current drop may be a 'false break' — this is not uncommon in the crypto market. Once the market confirms it is a false break, the rebound will be very fierce.
Currently, BTC is still in the 5th to 7th week of the price discovery phase, and based on historical trends, this phase is often a turning point for trends. If it can continue to strengthen, prices are expected to reach new highs; if it remains weak, it may mean the second price discovery ends prematurely.
The conclusion is simple: this week's closing is the 'referee' determining the future direction of BTC.
Market summary: Now is the critical moment for choice.
The current market, to say the least, is at a global critical point.
Bitcoin is testing whether the 'bull flag structure' has failed, determining the overall market's risk appetite;
XRP and Solana are both at key resistance levels, with bulls and bears in a stalemate;
Dogecoin is waiting for the RSI rebound signal at a low point in sentiment;
From a technical perspective, most mainstream coins have not fallen into a deep bear market structure, but they lack the momentum for upward breakthroughs. Most people seem to be waiting, but in reality, they are secretly positioning; and those who can truly profit from this wave are often the ones who act early.
🧘♂️ Investors say in the end
The crypto market is never short of opportunities, but it also never waits for anyone. A critical point in the market does not mean it will either rise or fall; it also means you might either miss out or need to position yourself early.
If you are still hesitating, you might want to ask yourself one question:
‘When the next round of market activity starts, am I sitting inside or standing outside?’
Whether you are a trend-chasing master or a coin-holding expert, it is now time for 'calm observation and rational layout'. Sentiment is the market's foam, but the trend is the real tide.
📌 The last sentence is for you, still analyzing candlesticks in front of the screen:
The next opportunity does not necessarily belong to the trend chasers, but definitely to those who are 'well-prepared'.
Many understand the trend, but few follow the rhythm.
The cryptocurrency market changes rapidly, with opportunities and risks coexisting. Learning to enter and exit strategically and protecting your principal is essential for steady progress and wealth growth. ✍️
Remember to DYOR, manage risk well, and I wish everyone smooth sailing in the crypto world! 🌊
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