Bitcoin Reversal Deepens as Key Resistance Holds; XRP and ETH Struggle, Solana Sees Support Bounce
Bitcoin’s upward momentum is fading, as multiple timeframes now flash warnings of a possible deeper correction. Altcoins like XRP and ETH show signs of technical weakness, while Solana’s trend remains mixed with near-term support intact.
Bitcoin (BTC): Rejected at Macro Resistance, Downside Risks Grow
Bitcoin’s multi-month rally has hit a significant hurdle at the macro trendline connecting the 2017 and 2021 cycle tops. The inability to push through this long-term resistance, combined with weakening momentum, suggests buyers are losing control.
- Weekly MACD remains positive but has declined sharply from its December 2024 highs.
- 14-week RSI has broken its uptrend from March and continues to form lower highs.
Shorter-term signals are also concerning. The three-line break chart on the daily timeframe has turned red for three consecutive sessions — a textbook sign of a bearish reversal.
Unless BTC can reclaim $122,056, the structure favors a move lower, with a potential test of $100,000 as sellers target previous support.
- Key Resistance: $120,000, $122,056, $123,181
- Key Support: $111,965, $112,301 (50-day SMA), $100,000
XRP: Pressing Against Trendline, But Moving Averages Signal Caution
XRP is attempting to break out of its corrective downtrend but faces strong resistance at the 38.2% Fibonacci retracement level. Price action remains capped, with key moving averages confirming continued weakness.
- 5- and 10-day SMAs are trending lower on the daily chart.
- 50-, 100-, and 200-hour SMAs remain bearishly aligned.
A close above $3.00 could shift momentum short-term, with $3.33 as the next key resistance, but the broader setup still leans bearish.
- Resistance: $3.33, $3.65, $4.00
- Support: $2.72, $2.65, $2.58
Ethereum (ETH): Bearish Outside Week Puts Bulls on Defensive
Ether saw a sharp drop last week, forming a bearish outside candle — a powerful reversal signal that indicates growing selling pressure.
- Short-term SMAs have crossed bearishly, pointing to a reversal in trend.
- The three-line break chart confirms this view with two red bars, suggesting follow-through to the downside.
While minor relief rallies are possible, ETH will need to reclaim $4,000+ to regain technical strength.
- Resistance: $3,941, $4,000, $4,100
- Support: $3,355, $3,000, $2,879
Solana (SOL): Holding Support, Watching for Golden Cross
Solana is showing relative strength after defending the 61.8% Fibonacci retracement level — often considered a strong technical floor during corrections.
Adding to the bullish case, the 50-day and 200-day SMAs are nearing a golden cross, a long-term bullish signal that could confirm a structural uptrend.
However, near-term caution remains as the 5- and 10-day SMAs are still trending lower, suggesting short-term pressure hasn’t fully abated.
- Resistance: $175, $187, $200
- Support: $156, $145, $126
Conclusion
Bitcoin’s rejection at key resistance and the broad deterioration in momentum across major assets suggest markets may be entering a consolidation or correction phase. A break below $112K could trigger a drop to $100K, while altcoins remain highly sensitive to further BTC weakness.
Solana stands out as a relative outperformer, but confirmation of a new uptrend will require follow-through buying and a successful golden cross in the coming sessions.
