ETH, XRP Flash Reversal Signals as Market Momentum Stalls; BTC and SOL Face Key Tests
Ethereum (ETH): Doji Signals Caution After Sharp Rally
Ethereum printed a Doji candle on Monday, reflecting uncertainty at the top of a nearly vertical climb from $2,100 to $3,800 over four weeks. This candlestick, forming near the crucial $3,800–$4,100 resistance zone—where ETH repeatedly topped out in 2024—suggests a potential pause or reversal in the bullish trend.
Short-term technicals show mounting downside risk. ETH broke down from a head-and-shoulders (H&S) pattern on the 15-minute chart, targeting $3,550. On the hourly chart, ETH is trading below the Ichimoku cloud, indicating fading momentum.
AI Insight: ETH needs a clean breakout above $3,859 to reassert bullish control. Until then, downside pressure remains in play.
- Key Resistance: $4,000, $4,109, $4,382
- Key Support: $3,480, $3,081, $2,879
XRP: Double Top Threatens Recent Gains
XRP has been consolidating between $3.35 and $3.60 since Friday, but a double top formation on the hourly chart is raising red flags. This bearish setup could confirm with a drop below $3.35, opening the door for a decline to $3.00.
Supporting the bearish case, the Guppy Multiple Moving Average (GMMA) has flipped negative on the hourly timeframe.
Still, if XRP manages to push through $3.65, it could invalidate the pattern and extend the strong July rally that has delivered a 54% surge.
AI Insight: While broader sentiment remains positive, the double top and weakening momentum indicators suggest short-term caution.
- Key Resistance: $3.65, $4.00
- Key Support: $3.35, $3.00, $2.65
Bitcoin (BTC): Descending Triangle Caps Price Action
Bitcoin continues to consolidate within a descending triangle, marked by falling highs since July 14 and horizontal support near $116,000. The structure signals a potential make-or-break moment.
A breakout above the triangle could resume the bullish trend and target new highs above $123,000. Conversely, a breakdown would increase the risk of a retest of $111,965, the former May peak.
AI Insight: BTC’s direction hinges on a breakout from the descending triangle. A clear move above or below this pattern will likely define the next leg.
- Key Resistance: $120,000, $123,181
- Key Support: $116,000, $115,739, $111,965
Solana (SOL): Weakness Appears After Spike to $204
Solana pulled back from a five-month high of $204 to trade near $194, forming a daily candle with a long upper wick, often a sign of seller strength. The hourly MACD has turned bearish, suggesting the pullback could extend toward $185, now a critical support level.
Despite the retreat, SOL maintains a bullish broader structure. The token continues to trend above the daily Ichimoku cloud and remains inside a rising price channel.
AI Insight: A deeper correction to $185 is possible in the short term, but the broader trend remains intact as long as SOL holds above that level.
- Key Resistance: $204, $218, $252–$264
- Key Support: $185, $174
