ETH Tracks BTC’s Counter-Trend Grind as XRP Holds the Line at $2 and SOL Waits for Direction
BTC
Bitcoin continues to drift within a rising counter-trend channel on the hourly chart, even as its broader structure remains defined by a descending trend. The market sits at a critical juncture: a breakout above $96,500, where the channel top intersects the primary bearish trendline, would flip the technical picture and signal a potential re-acceleration of the medium-term uptrend.
Weekly indicators echo this setup, with BTC repeatedly defending the 100-week SMA, hinting that selling pressure is fading and that a bullish reversal risk is growing.
ETH
Ether’s setup closely resembles Bitcoin’s, with price climbing inside a counter-trend channel while still constrained by a larger downtrend. A sustained move above $3,200, the upper boundary of the channel, would mark a meaningful shift in momentum and expose $3,620, the Nov. 10 swing-high resistance.
If the rising channel fails, downside momentum could reassert itself, sending ETH toward $2,630 as initial support.
For now, $3,200 remains the pivot that will define the next directional phase.
XRP
XRP is once again nudging against the crucial $2 support area—a level that has repeatedly signaled seller fatigue this year through long-wicked weekly candles. Even so, momentum leans bearish, with the 5- and 10-week SMAs sloping decisively lower.
A break beneath $2 risks triggering capitulation flows and could pull the token toward $1.63, the 61.8% Fibonacci retracement of its 2024–2025 ascent.
On the other hand, sustained daily closes above $2.30 would disrupt the pattern of lower highs and usher in a bullish reset. The $2 mark remains the structural hinge.
SOL
Solana continues to trade without conviction, holding within a tight sideways channel bounded by $145 resistance and $120 support, with current levels near $134.
The lack of momentum leaves the next decisive move dependent on a clean breakout from this range. An upside clearance would activate a measured-move target toward $160, while a downside breach would keep the broader downtrend in play.
