Bitcoin, Ethereum, XRP Reach Technical Divergence Point… Watch for a Trend Change
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Ethereum (ETH), XRP, Bitcoin (BTC), and other major cryptocurrencies are reaching technically significant turning points, drawing market attention back to these assets. As the overall market recovery slows, these cryptocurrencies are seeking meaningful directions in different phases.
Ethereum is currently attempting to rise towards the 200-day exponential moving average (EMA), located around $2,500, which serves as a watershed for long-term trends. ETH previously fell below both the 50-day and 100-day EMAs but has since slightly rebounded and is once again approaching the 200 EMA. However, the trading volume for this rise is minimal, and no clear recovery of buying momentum has been confirmed. The chart also shows signs of the ascending triangle pattern formed in early June failing, suggesting a **weakening of upward momentum**.
The technical indicator RSI remains in a neutral zone, with no signs of explosive buying. If Ethereum is blocked by the 200 EMA resistance, it may be pushed back to the psychological support level of $2,000, which would effectively reverse most of the April-May rally, potentially indicating a **slowdown in the upward trend**. Conversely, if it breaks through the 200 EMA with strong buying pressure, a re-entry to the $2,600-$2,800 range can be expected.
Meanwhile, XRP is changing market sentiment by crossing an important technical turning point. After strongly breaking through the 26 EMA that had long suppressed it, XRP has now surpassed the 50-day and 100-day EMAs, as well as major short-term resistance lines. This is interpreted as a signal of **transitioning to buying momentum** and breaking out of short-term weakness. The RSI has also crossed above 50 without entering the overbought zone, indicating strengthening momentum. Recent prices have the possibility of retesting the $2.28-$2.32 range, with cautious speculation about forming a new upward structure.
Bitcoin is also testing the critical technical resistance downtrend line for the third time. This trendline, which has suppressed prices for two months, could be a **watershed for an ambitious upward reversal** if broken. BTC has already recovered the 26 EMA and 50 EMA, and has shown a strong rebound at the 100 EMA, with positive signals emerging in the upward structure. However, the still insufficient trading volume reduces confidence in a visible breakthrough.
Currently trading around $105,000, Bitcoin is on the verge of breaking a decisive resistance line. The RSI has entered a strong zone without overheating, leaving room for further increases, but there are concerns about a **sharp pullback** if this resistance is not overcome without strong buying pressure. Experts predict that if the $108,000 level is broken with accompanying trading volume, BTC could **accelerate towards an all-time high**.
Thus, Ethereum, XRP, and Bitcoin have all reached a critical moment of technical choice. Whether the current upward trend continues steadily or another correction phase begins depends on each asset's trading volume and market sentiment. As market participant uncertainty persists, short-term technical indicators and the breakthrough of key resistance lines are expected to determine the medium to long-term trend.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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