- Bitcoin forms a double top near $110,500, hinting at possible bearish reversal.
- Ethereum’s downtrend intensifies as volume drops 20% and support at $2,525 weakens.
- XRP struggles below $2.28 with low volume and dilution fears weighing on sentiment.
As the crypto market remains at a crossroads, Bitcoin (BTC), Ethereum (ETH), and XRP are all showing signs of hesitation near critical technical levels. While none of the three assets have yet confirmed a breakout or breakdown, current price patterns, shrinking volume, and defined support and resistance zones indicate a decisive move may be near. Investors are closely monitoring the charts for confirmation signals that could set the stage for the next trend direction.
Bitcoin Moves Sideways, But Momentum Builds
Bitcoin is trading at $108,841.28, down 0.66% over the last 24 hours. Its recent price action has formed a tight consolidation band between $107,500 and $110,500. Significantly, the market has rejected prices above $110,500 twice, creating a double top formation a pattern often linked to bearish reversals.
Despite that, BTC found strong buying interest near $107,530, its intraday low. If price falls below this level, further support may lie at $106,500.
On the flip side, a break above $110,500 could see BTC testing $111,000 or even $112,000. However, declining volume down nearly 12% suggests waning momentum, possibly delaying any breakout.
Ethereum Faces Pressure from Bears
Ethereum, trading at $2,546.31, shows a more defined downtrend. It has been posting lower highs and lower lows, a clear sign of mounting selling pressure. The resistance at $2,610 has held firmly, with no successful retest above that level. Meanwhile, support is forming around $2,525, though it’s weak.
Moreover, trading volume has dropped by over 20%, a sharp decline that signals lower investor interest in the short term. Unless ETH can push above $2,600 with conviction, the downtrend may continue. A break below $2,525 could lead to deeper losses.
XRP Struggles Amid Declining Sentiment
XRP is underperforming at $2.22, with a 2.88% daily loss. It’s clearly in a downtrend, consistently hitting lower highs and facing multiple rejections near $2.28. Meanwhile, the $2.20 level is acting as a key support zone. If this breaks, downside risk toward $2.15 becomes likely.
In addition, XRP’s volume-to-market cap ratio is just 2.6%, signaling weaker trading intensity than ETH or BTC. With over 40 billion XRP still unlockable, concerns about dilution remain. Until XRP reclaims $2.28 with momentum, the bears appear to hold control
