🚀 XRP Price Faces Critical Support Level Amid Bearish Signals
#XRP #XRPPrice #Bearish #BearishSignals #TechnicalAnalysis #DescendingTriangle #BullFlag #AscendingTriangle #MonthlyChart #WeeklyChart #RSI #NUPL #SMA #MovingAverages #SupportLevel #Resistance #Cointelegraph #Crypto #ElliottWave #PriceTarget #MarketAnalysis
According to Cointelegraph, XRP's price is currently under pressure, with the cryptocurrency trading at $2.80 after a 5% decline over the past 24 hours. The failure to maintain a position above $3 has raised concerns about the sustainability of its recent upward trend. The daily candle chart reveals a descending triangle formation, a bearish continuation pattern characterized by a downward-sloping resistance trendline and a flat horizontal support line. A daily close below the triangle's support trendline could initiate a new wave of selling, with a technical target near $2.07, representing a potential 26% drop from the current price.
XRP is trading below its 50-day and 100-day simple moving averages, reinforcing a bearish outlook. The 200-day SMA at $2.52 might offer some support to bulls, potentially preventing a deeper decline toward $2. The relative strength index has decreased from 50 to 39, indicating growing downward momentum. Additionally, XRP's Net Unrealized Profit/Loss (NUPL) is within the 0.5–0.6 range, historically associated with local tops, suggesting increased sell-side pressure. With over 94% of supply in profit at current prices, there is a risk of heightened selling activity, similar to past corrections in 2017, 2021, and January 2025.
Despite the recent pullback, some analysts maintain a bullish outlook for XRP on higher time frames. As reported by Cointelegraph, the weekly candle chart remains optimistic, featuring a bull flag pattern since the November 2024 rally, indicating potential price increases up to $15. Crypto analyst CryptoBull anticipates a rally to $5 in October, while Egrag Crypto suggests the ongoing pullback might be a technical correction. He highlights an ascending triangle formation on the monthly chart with a price target of $27. XForceGlobal's earlier analysis supports a bullish macro outlook, with Elliott Wave analysis predicting a cycle top above $20 for XRP. Readers are reminded that this article does not offer investment advice, and all trading decisions should be made based on individual research and risk assessment.#XRP #XRPPrice #Bearish #BearishSignals #TechnicalAnalysis #DescendingTriangle #BullFlag #AscendingTriangle #MonthlyChart #WeeklyChart #RSI #NUPL #SMA #MovingAverages #SupportLevel #Resistance #Cointelegraph #Crypto #ElliottWave #PriceTarget #MarketAnalysis
🚀 Ether Faces Potential Decline Amid Bearish MACD Signal
#ETH #Ethereum #MACD #BearishMACD #Crypto #TechnicalAnalysis #ETHPrice #Support #DescendingChannel #BearMarket #PriceDrop #WeeklyChart #DailyTimeFrame
According to Cointelegraph, Ether (ETH) is experiencing a bearish signal from its moving average convergence divergence (MACD) indicator, which has historically led to significant price drops. The MACD indicator, a tool used in technical analysis to assess momentum, has flashed a bearish cross on the weekly chart, suggesting a potential decline in ETH's price. This pattern, observed in early 2025, resulted in a 60% drop in Ether's spot price within weeks. A similar scenario is unfolding in October, raising concerns about further losses.
Analysts have noted that previous instances of the MACD line crossing below the signal line have led to sharp declines, with ETH experiencing losses of 46% in mid-2024 and 60% in the first quarter of 2025. Analyst CRYPTO Damus expressed concern over the recent MACD cross to red after 22 weeks of green, highlighting that previous occurrences were followed by significant price drops. Fellow analyst Titan of Crypto advised caution, urging followers to be prepared for any scenario once the signal is confirmed.
Ether's price is currently testing the $4,000 support level, a critical juncture for maintaining its uptrend. Bulls must keep the price above this level to avoid further declines. Historically, when Ether fell below this threshold in December 2021, it led to a 78% drop, bottoming around $880 during the 2022 bear market. Elliott Wave analyst Man of Bitcoin emphasized the importance of holding above the $3,899 support level to maintain upward momentum, warning that a break below could indicate a larger correction.
Trader Koala noted that Ether is in a "weekly breakdown and trend loss" after losing support at $4,200, predicting downward acceleration. As reported by Cointelegraph, Ether bears are currently focused on pushing the price below the lower boundary of a descending channel at $3,745 on the daily time frame. Investors are advised to conduct their own research and exercise caution, as every investment and trading move involves risk.#ETH #Ethereum #MACD #BearishMACD #Crypto #TechnicalAnalysis #ETHPrice #Support #DescendingChannel #BearMarket #PriceDrop #WeeklyChart #DailyTimeFrame
🚀 Bitcoin Oversold on Weekly Chart for Fifth Time
#Bitcoin #Oversold #RSI #WeeklyChart #ScottMelker #WolfOfAllStreets #X #BTC
Scott Melker, host of The Wolf Of All Streets Podcast, posted on X that Bitcoin is oversold on the RSI weekly chart for only the fifth time ever. This status is not confirmed until the weekly close.#Bitcoin #Oversold #RSI #WeeklyChart #ScottMelker #WolfOfAllStreets #X #BTC
🚀 Bitcoin Weekly Chart Shows Record $12,000 Wick
#Bitcoin #WeeklyChart #RecordWick #Cryptocurrency #BitcoinPrice #Bears #ScottMelker #X #BTC
Scott Melker, host of The Wolf Of All Streets Podcast, posted on X that the Bitcoin weekly chart shows the longest wick in history, reaching $12,000. This indicates significant buying interest in the 60Ks range, prompting bears to reconsider their positions.#Bitcoin #WeeklyChart #RecordWick #Cryptocurrency #BitcoinPrice #Bears #ScottMelker #X #BTC