The market is trying to avoid getting into a prolonged downward trend and fights. With the bitcoin that broke in the 50 EMA, XRP tries to recover but fails for the moment, and Ethereum reaching $ 4,200, with solid volume growth.
Bitcoin fights
After a period of erratic trading and downward pressure, Bitcoin managed to postpone a critical level, finding $ 113,000. This decision occurs while Bitcoin exceeds its 50 -day EMA, a dynamic resistance which frequently retained prices’ action in September.
Although the break is good technical development, it is not yet clear if Bitcoin will be able to maintain these gains. The continuous fight of Bitcoin in a mid-term consolidation area is highlighted by the daily graphic. Buyers intervened to protect the EMA by 100 days after the market fell at around $ 111,000 earlier this week, which led to a spectacular recovery.
Btcusdt Graphic by tradingView “>
The successful recovery of the 50 points of the EMA indicates an increased freshness, but the air offer is still high between $ 113,000 and $ 115,000, the starting point for previous breakdowns. The rally experienced a moderate volume, devoid of the input gusts generally observed during long -term escapes. This makes it more likely that Bitcoin will be rejected at the current levels and will fold in the range from $ 111,000 to $ 112,000.
Bitcoin should eliminate the summits of the September swing around $ 118,000, in addition to maintaining above the 50 EMA, for a more robust bullish confirmation. This uncertainty is reflected in the indicators of Momentum. The RSI, which is neutral and allows a movement in both directions, is around 50.
Short-term targets point around $ 115,000 and $ 118,000, if the bulls continue to put pressure and consolidate over $ 113,000. Lower, if EMA 50 is not maintained, there may be a quick remediation of the 100 EMA and, in a more severe correction, the EMA 200 almost $ 106,500.
The bulls now have the upper hand, because Bitcoin has recovered a large resistance zone at $ 113,000. However, the market can just as well feel another retrace before trying a more definitive break, given the low volume and the resistance above.
XRP secures recovery
Although XRP has recovered from its September in September around $ 2.80, the recovery is already starting to show signs of weakness. The token is struggling to unravel an important technical barrier, the 26 -day EMA, which still acts as a resistance to general costs despite the optimism of the bulls after the rebound. The recent rise in the rise runs the risk of being a little more than a brief rescue rally if there is no clear rupture above this level.
The problem is obvious on the daily graphic. XRP tried to increase higher after having removed the 100 -day EMA as support, but the rally stopped as soon as the price reached 26 EMA. The short-term momentum is often determined by this mobile average, and the non-compliance with XRP indicates a weakened purchase pressure. In addition, the volume was silent during the recent rebound, not indicating that there was a strong conviction behind this decision.
Xrpusdt Graphic by tradingView “>
To make things more careful, the overall XRP structure continues to show a downward trend line that has capped each gathering since mid-July. Increased targets like $ 3.00 to $ 3.10 are always out of reach until the bulls decisively allow the trend line and the 26 EMA. The 200 -day EMA at $ 2.61, the next significant support area could be reached by XRP if it is unable to maintain more than $ 2.80.
Momentum indicators go from neutral to marginally pessimistic. Since the RSI is 46 years old and does not seem to be overlooked, there is an additional drop potential if the sellers take advantage of the situation.
Ethereum’s attempt
Ethereum has recovered somewhat, returning to $ 4,200 after a drop in the region of $ 3,800 last week. The bulls are somewhat reassured by the rebound, but the momentum of the move is not very strong. Technical indicators show that ETH could encounter significant resistance, which could prevent other gains.
The way Ethereum interacts with the 26 -day EMA is the most urgent problem. ETH tried to find this short -term mobile average after the recent rebound, but it was canceled at 26 EMA, indicating a short -term lack of momentum. The market runs the risk of driving once again in the direction of deeper support areas, unless the ETH can maintain a business near this level.
Volume is another warning sign. The negotiation volume has continued to decrease despite pricing, indicating a thinning of participation. Usually, strong recovery need a growing volume to validate the buyer’s conviction. The lack of expansion of the volume, in the case of ETH, suggests hesitation and casts a doubt on the viability of the current rally.
Ethereum is always capped on the daily graphic by a descending triangle pattern composed of strong horizontal support and a drop in the ups. Although it does not collapse completely, the inability of the ETH to overcome the resistance cluster from $ 4,400 to $ 4,500 maintains the bulls at the edge. Because it is in neutral territory and has no signal for surffeuation or occurrence, the RSI at 45 reflects this uncertainty.
To strengthen confidence in the near future, ETH must push the volume above and recover the 26 EMA. An additional retirement to the EMA from 100 days to $ 3,870, or in a downward scenario, even the 200 -day EMA almost $ 3,620, could result from not doing it.
The resumption of Ethereum at $ 4,200 is currently not a complete but rather cautious bullish reversal. The ETH could be vulnerable in future sessions if there is no more purchase interest and a clear rupture above the resistance.
