Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
<a href="https://xpertsstudio.com/bitcoin-hash-ribbons-precede-institutional-flip/” title=”Bitcoin: Hash Ribbons Precede Institutional Flip”>Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) have paused their gains after facing a slight pullback last week following their recent massive gains. BTC trades around $77,900 on Monday, and ETH faces selling pressure near the key $2,500 resistance level. Meanwhile, XRP corrects and finds support around a key level that could determine its next directional move.
Bitcoin consolidates following a massive rally in recent weeks
Bitcoin price trades at $77,893 on Monday, maintaining a bullish near-term bias as it holds well above the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs) clustered between roughly $69,700 and $72,300.
The Relative Strength Index (RSI) at 69 hovers just below overbought territory, while the Moving Average Convergence Divergence (MACD) remains positive, hinting that upside momentum is still constructive but becoming stretched.
On the topside, the next notable resistance aligns with the horizontal barrier at $85,000.
On the downside, initial demand appears around the 200-day EMA at $72,254, then the 50-day EMA at $69,681, followed by the 100-day EMA at $68,887; below these, deeper support emerges at the previously charted horizontal levels of $66,500 and $62,300.
Ethereum faces rejection near $2,500 mark
Ethereum price trades at $2,421 on Monday, holding a bullish near-term bias as price remains comfortably above the key EMAs. The 50-day EMA at $2,101, together with the 100-day EMA at $2,037 and the 200-day EMA at $2,161, forms a broad underlying demand zone that reinforces the constructive structure while ETH consolidates near recent highs.
Momentum remains supportive, with the RSI hovering around 66 and avoiding extreme overbought territory, while the MACD stays in positive territory, hinting at sustained but moderating upside pressure.
On the topside, immediate resistance is seen at the horizontal barrier near $2,500, ahead of a more significant cap at $3,000, where profit-taking could intensify if bulls extend the rally.
On the downside, initial support sits around the 200-day EMA at $2,161, followed by the 50-day EMA at $2,101 and the 100-day EMA at $2,037, which should cushion deeper pullbacks. A break below the psychological $2,000 level would expose the distant structural floor at $1,505, while sustained trading above the clustered moving averages keeps the broader bullish tone intact.
XRP finds support near 200-day EMA
XRP price trades at $1.350 on Monday, maintaining a broadly bullish near-term bias as it holds above the 50-day and 100-day EMAs at $1.204 and $1.209, respectively. However, the pair is now testing the 200-day EMA at $1.351 as immediate support, capping further downside for now.
The RSI around 59 suggests constructive but not overextended momentum, while the positive MACD reading with a small positive value hints at waning yet still supportive bullish pressure after the recent sharp rally.
On the topside, initial resistance sits at the horizontal level of $1.900.
On the downside, the first meaningful support appears at the 200-day EMA at $1.351, followed by the $1.300 horizontal level, ahead of a supportive cluster formed by the 100-day EMA at $1.209 and the 50-day EMA at $1.204. At the same time, a deeper structural floor sits at the $1.000 handle.
As long as XRP stays above the $1.300 area, the technical backdrop would continue to favor consolidation with potential for renewed upside attempts toward the recent high around $1.699 and beyond the $1.900 mark.
(The technical analysis of this story was written with the help of an AI tool.Know more.)
Cryptocurrency prices FAQs
Token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.
A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platforms these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets
Macroeconomic events like the US Federal Reserve’s decision on interest rates influence crypto assets mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.
Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs.
Manish Chhetri is a crypto specialist with over four years of experience in the cryptocurrency industry.
Source: www.fxstreet.com