The cryptocurrency market continues to exhibit volatility as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP)

The cryptocurrency market continues to exhibit volatility as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP)

The cryptocurrency market continues to exhibit volatility as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) navigate key resistance and support levels. While Bitcoin faced rejection at $85,000, a crucial 200-day EMA and a descending trendline, Ethereum struggled near its crucial $1,861 level. On the other hand, XRP remained under pressure below its 100-day EMA.

Bitcoin’s Price Movement: Testing the $85,000 Resistance

Bitcoin saw a 3.16% recovery on Tuesday after stabilizing around $82,500 earlier in the week. However, on Wednesday, BTC faced rejection at $85,000, a level that aligns with the 200-day Exponential Moving Average (EMA) and a descending trendline.

Technical Indicators:

* The price failed to break above the 200-day EMA, indicating potential bearish pressure.

* A move above the trendline could signal a continuation of the bull market.

* Despite the rejection, BTC remained in a long-term uptrend, supported by the 50-day EMA.

Potential Scenarios:

* If the bulls manage to push Bitcoin above the trendline and sustain the move, it could signal a strong rally.

* Conversely, if sellers overwhelm the buyers, BTC might retest the 50-day EMA at $78,000.

Ethereum’s Struggle Near $1,861: Key Support at Risk

Ethereum experienced a sharp decline of 9.88% last week after falling below its crucial $1,861 support level. However, it recovered 4.05% at the beginning of this week, attempting to reclaim its position above this level.

Technical Indicators:

* The price tested the Fib level of 0.382, failing to break through.

* A move above $1,861 would be crucial for the bulls to regain control.

* Despite the recent recovery, ETH remained in a long-term downtrend.

Potential Scenarios:

* If the bulls manage to push Ethereum above the Fib level and sustain the move, it could signal a continuation of the rally.

* Conversely, if sellers overwhelm the buyers, ETH might retest the key support at $1,861, which, if broken, could lead to a deeper correction.

XRP Faces Weakness Below the 100-day EMA

XRP has underperformed compared to BTC and ETH, declining 12.40% last week after closing below its 100-day EMA at $2.30. While XRP stabilized at $2.14 in recent days, it remains under selling pressure, trading at $2.09 as of Wednesday.

Technical Indicators:

* The price closed below the 100-day EMA, signaling potential bearish pressure.

* A move above the EMA and the Fib level of 0.382 could be crucial for the bulls.

* Despite the recent decline, XRP remained in a long-term uptrend, supported by the 50-day EMA.

Potential Scenarios:

* If the bulls manage to push XRP above the 100-day EMA and sustain the move, it could signal a recovery.

* Conversely, if sellers overwhelm the buyers, XRP might retest the 50-day EMA, which, if broken, could lead to a deeper correction.

Market Catalysts: President Trump’s Tariffs & Crypto Volatility

Investors should also keep an eye on President Donald Trump’s upcoming tariff announcements on “Liberation Day.” Potential trade restrictions on China or other countries could impact global markets, leading to increased volatility in risk assets, including cryptocurrencies. Any negative economic implications could influence BTC, ETH, and XRP price trends in the coming days.

In conclusion, as Bitcoin, Ethereum, and Ripple navigate critical resistance and support levels, traders must remain vigilant. BTC’s fate hinges on its ability to break above $85,000, while ETH must hold $1,861 to maintain its recovery. Moreover, XRP remains weak below its 100-day EMA and faces potential pressure from President Trump’s tariff announcements. By considering macroeconomic factors, technical indicators, and global financial developments, market participants can make more informed trading decisions.