Bitcoin Price Analysis: Key Support and Resistance Levels to Watch
The price of Bitcoin (BTC) is currently trading around $91,150 after experiencing a strong rejection near the $94,800 zone. The past pullback in the price suggests that there has been rising selling pressure in the market.
From a technical point of view, some weakness is observed in momentum indicators. The MACD has turned negative, hinting that there could be a short-term bearish trend, while the RSI is trending downwards, showing that the bears are taking control. Nevertheless, Bitcoin is trading close to a critical level of support at $90,288, which is a strong demand area. If this level holds, BTC is likely to witness a bounce and attempt to overcome the resistance at $94,800 again. A successful breakthrough above this level may unleash more bullish momentum in upcoming sessions.
On the flip side, if Bitcoin fails to sustain above the $90,288 support level, the selling momentum could accelerate, causing the price to move towards the $88,000 support area, which would become the next important zone to monitor.
Key Levels to Watch: Resistance: $94,800 Immediate Support: $90,288 Next Downside Zone: $88,000
In any case, Bitcoin stands at a critical juncture where price actions around the $90,288 support level are expected to determine the fate of the next major move. Traders are therefore advised to pay close attention to volume and market sentiment before placing new bets. $BTC
XRP is trading around $2.14 and has moved above the EMA-50 on the daily chart, which is a positive sign. The MACD is bullish, and the RSI remains strong, showing that buyers are stepping in.
Today is a key day for XRP. A break above $2.22 resistance could push the price toward $2.35 and possibly higher. If XRP fails to break this level, short-term consolidation may occur.
Overall, the outlook remains cautiously bullish as long as XRP holds above EMA-50. $XRP