Bitcoin Faces Rejection at Key Resistance Level
Bitcoin (BTC) price is experiencing a slight rejection around the $85,000 resistance level after recovering 3.16% the previous day. Traders should keep an eye on the impact of US President Donald Trump’s upcoming “Liberation Day”, which may significantly affect the cryptocurrency market due to potential tariff announcements.
Ethereum Breaks Resistance, But Caution is Advised
Ethereum (ETH) has managed to break above its daily resistance at $1,861, suggesting a potential recovery. However, if this support fails, ETH could see a decline towards the $1,700 psychological level.
Ripple Shows Signs of Weakness
Ripple (XRP) has fallen below its 100-day EMA, indicating a potential correction. Currently trading around $2.09, XRP may decline further to test its support at $1.96 if bearish momentum continues.
Market Indicators
- The Relative Strength Index (RSI) for Bitcoin is at 47, indicating bearish momentum.
- Ethereum's RSI is at 40, also reflecting downward pressure.
- XRP’s RSI reads 39, signifying a similar bearish trend.
Key Market Levels
- Bitcoin could retest $78,258 if it fails to overcome resistance at $85,000. A recovery above this level could lead to $90,000.
- For Ethereum, support at $1,861 is crucial, with potential upside to $2,104 if it holds.
- XRP may see a recovery to $2.30 if it can stabilize above $2.14.
BTC/USDT daily chart
ETH/USDT daily chart
XRP/USDT daily chart
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