This is a daily analysis of the top -tokens with CME futures by Coindesk analyst and chartered market technician Omkar Godbole.
Bitcoin: risks deeper withdrawal
Bitcoin’s (BTC) The Multi-Month Rally seems to have hit a significant wall, with a bringle of bearish signals that emerge on both weekly and daily charts.
The weekly candlestick -diagram shows that Bulls has not created a foothold over the macro trend line connecting 2017 and 2021 Bull Market Highs. This failed breakout is supported by weakened momentum as the MacD histogram, although still positive, is significantly lower than its peak in December 2024, when the macro end was first tested.
The Bearish atmosphere is further reinforced by the 14-week RSI, which has broken its upset line from March low, while continuing to print a number of lower heights since March 2024.
On a shorter daily timeframe, the shift in momentum is even more pronounced. The three-line breaking diagram, a tool designed to filter less noise and confirm trend changes, have printed three straight red bricks (bars)A classic Bearish reversing signal confirming that sellers have seized control.
The combination of these signals-a failed prolonged breakout, weakened momentum and a confirmed short-term reversing indication that a deeper correction is now the path of least resistance and prices could take the immediate support of $ 11,965, the previous high hit in May, for a test of dip demand to $ 100,000.
Prices must overcome $ 122,056 to invalid the bearish setup.
- Resistance: $ 120,000, $ 122,056, $ 123,181.
- Support: $ 111,965, $ 112.301 (the 50-day SMA)$ 100,000.
XRP: Challenging downward line
While XRP
Trying to break out of the downturn line representing the recent correction, the overwhelming momentum from the moving average across the Times and Daily Time Frames suggests that a sustained outburst may not occur immediately.
On the daily timeframe, the price has seen a modest rejection, but this rally is limited by 38.2% Fibonacci Retracement level, which acts as a key resistance. This corrective feature occurs on a bearish background, with both the 5 and 10-day simple moving average (Smas) Continuing to trend south and confirming the downward bias. Furthermore, the 50-, 100- and 200-hour SMUs are stacked in a bearish configuration, all tendency to South, a classic technical signal of a strong downturn.
If we close over $ 3.00, the focus would change to the lower height of $ 3.33 registered on July 28.
- Resistance: $ 3.33, $ 3.65, $ 4.00.
- Support: $ 2.72, $ 2.65, $ 2.58.
Ether: Bearish Outside Week
Ether fell nearly 10% last week and formed a large bearish outside the candle of the week, a significant bearish pattern, indicating that sellers seek to regain control.
This mood is reinforced on the daily timeframe. The daily candlestick diagram shows that the 5- and 10-day SMUs have performed a Bearish cross, confirming a break in the short-term Uptrend.
So even though the award has seen a modest rejection since Sunday, its strength is questionable. This is further substantiated by the daily three-line breaking diagram, which has printed two consecutive red bricks-a decisive Bearish signal confirming that the trend has turned to the downside.
The combination of these long -term and short -term charts suggests that the path with the least resistance is now lower.
- Resistance: $ 3,941, $ 4,000, $ 4,100.
- Support: $ 3,355, $ 3,000, $ 2,879.
Solana: Golden Cross
Solana’s recent withdrawal appears to fulfill a critical test where Bulls successfully defend a key support level over the last 24 hours. The price has jumped from 61.8% Fibonacci Retracement of its recent rally, a level that is often monitored by the traders as a strong potential price floor in an increase.
Meanwhile, a big long-term signal on the horizon: 50- and 200-day SMUs is approaching a “Golden Cross.” While this is a hanging indicator, a successful cross would be a powerful long -lasting bullish signal that confirms a major shift in momentum and potentially set the stage for a new, lasting trend.
For dealers, the coming days are critical, where 61.8% FIB level needs to keep strong as support, while the impending golden cross provides a bullish long-term headwind. Also note that despite the defense of the FIB level, the short-term trend Bearish remains with the 5- and 10-day simple movement average (Smas) continues to trend lower.
- Resistance: $ 175, $ 187, $ 200.
- Support: $ 156, $ 145, $ 126.
