Lack of Volatility: Ethereum is experiencing a significant decrease in volatility, with price swings all but stopping. It is consolidating around the $4,295 mark, with daily candles and trading volumes getting smaller.
Contrasting Interpretations:
Bullish View: Some believe this is a period of consolidation before a breakout, with strong support at the 50-day EMA ($4,124) and the 100-day EMA ($3,620). A rebound could take ETH back to the $4,600–$4,800 range.
Bearish View: This interpretation is currently seen as more credible. A collapse in volatility can signal waning investor interest and a potential for a steep correction. Without new demand, ETH risks falling below $4,124, which could lead to a drop to $3,620 or even the 200-day EMA ($3,201).
Bitcoin (BTC): Gearing Up for a Potential Surge
Consolidation and Technical Strength: After weeks of sideways trading, Bitcoin is showing signs of preparing for an uptrend. It is trading at around $111,583, holding above the 100-day EMA ($110,770) and the 200-day EMA ($104,991).
Oversold Indicator: The Relative Strength Index (RSI) is at 47 points, which is below the neutral 50 mark and has historically indicated that Bitcoin is oversold. This suggests there is room for buyers to push the price higher.
Key Resistance Levels: A move above the immediate resistance at $112,362 could pave the way for a test of the 50-day EMA at $114,878. A sustained move above $116,000 would likely confirm a new bullish phase.
Support to Watch: Bitcoin needs to defend the $110,770 level to maintain its bullish potential. A drop below this could lead to a test of the $105,000 support.
XRP: Showing Signs of Recovery
Breaking Resistance: XRP is showing signs of recovery after weeks of bearish pressure, trading at approximately $2.91 and attempting to break through its first major resistance, the 26-day EMA.
Momentum Indicators: The RSI has moved back toward 50, indicating fresh buying interest, and trading volumes have seen a marginal increase from the previous week.
Upward Potential: A confirmed close above the 26-day EMA would signal that bulls are regaining control. The next target would be the 50-day EMA at $3.07, followed by the $3.30 and $3.50 resistance zones.
Support Level: To continue its recovery, XRP must hold the $2.77 support level. A failure to do so could pull the price back toward the 200-day EMA at $2.53.
