- The new domain of Solana?
- Bitcoin: It’s difficult
After weeks of intense pressure, XRP left a symmetrical triangle and tested the support zone around $ 2.70. In the daily table, a rotating candle pattern has emerged as a possible line of life, although it often indicates indecision at the end of a bearish trend and prepares the market for a reversal.
Since this candelabro appears at such a crucial point, it can indicate that buyers are beginning to overcome sellers. Crucially, XRP is currently quoted just above its 100 -day mobile average, which has historically been a reliable bouncing point in this cycle.
If follow -up purchases are verified, this provision could indicate the start of a new recovery phase. XRP recently could not maintain the range of $ 2.95- $ 3.00, which is the first significant resistance in the short term.
The reversal would be confirmed and the road to $ 3.10, the upper limit of recent consolidation, would be clear if there was a daily break and closure above this level. The most ambitious objective beyond that is $ 3.25- $ 3.30, which corresponds to the line of descending trend that limited the most recent triangle formation.
The immediate support in the inconvenience remains $ 2.70. XRP can move towards the 200 -day mobile average to $ 2.50, the last line of defense of the bulls, if it loses this level in high volume, invalidating the investment pattern.
At this time, XRP has a good opportunity to stabilize and get up, thanks to the investment of candlesticks. In the next sessions, merchants must be attentive to confirmation, particularly regarding the ability of the bulls to convince XRP over $ 3.00.
If they succeed, this rotating fund may be the fundamental moment that prevents XRP from sinking any minor and reopening the path to growth.
The new domain of Solana?
Sol is currently quoted to around $ 200 in the table, which demonstrates resilience despite experiencing volatility earlier this year. With the Token keeping above important mobile averages and defending its support for the upward trend, its constant increase since June is indicative of the confidence of revived investors.
The Ethereum price movement today is similar to that of Solana, since Ether moves in a trend up of a textbook with a higher high after another, which could allow him to reach a new height of $ 5,000. In the case of Solana, he began to show similar signs of heavy accumulation, which could become a base for solid growth. Recently, the asset broke $ 200, an important psychological threshold.
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This essentially establishes Solana as a viable substitute for those who feel “late” by Ethereum. Growth is not inevitable, but there is a solid possibility that Sol captures the successful performance of the ETH market that we saw in recent months.
With its wide liquidity and layer 2 scale, Ethereum has solidified its position as industry standard. But Solana continues to demonstrate that she can maintain security and activity time.
Bitcoin: It’s difficult
Given the continuous sales pressure in the market, Bitcoin (BTC) is seeing one of its most difficult reversion attempts in months. Bitcoin has entered what can only be described as a free fall after not keeping over $ 120,000, and the technical image indicates that buyers may not see any respite for some time.
Bitcoin has fallen below important mobile averages in the short and medium term, including the 50 -day EMA, which was once a crucial dynamic support, and is currently quoted at approximately $ 109,000.
Due to this collapse, Bitcoin now has few areas of immediate support. Near 200 days to approximately $ 104,000 is the next significant cushion. If that level is broken, the structure seems even more unstable, leaving Bitcoin vulnerable to more significant retaccos.
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A situation is created by the absence of solid support areas below the current price. At this point in the demonstration, Bitcoin is in open space instead of previously when several technical levels offered safety networks for setbacks.
Because even small waves can become more aggressive downward movements, this makes any reversal attempt extremely challenging. The fact that the commercial volume has not been given adds credibility to the bearish argument.
Bulls waiting for a lower signal can be frustrated if Bitcoin moves lower in a slow bleeding in the absence of a strong discharge of vendors that leave. RSI and other impulse indicators are still weak, and there is no obvious divergence that suggests that a rebound is about to happen.
In summary, Bitcoin is currently in one of its most difficult reversion attempts to date. There are few possibilities of a sustainable recovery in the near future because the impulse is strongly against it, and there is no obvious support.