XRP Faces Resistance at $3.65 While Bitcoin and Ether Show Strength
XRP Analysis
XRP surged 11%, breaking out of a bull flag pattern, but remains below the critical resistance level of $3.65 where a bearish "tweezer top" pattern formed last month. Key points include:
- Resistance levels at $3.38, $3.65, and $4.00.
- Support levels at $2.99, $2.72, and $2.65.
- On-chain data shows high unrealized profits, indicating potential selling pressure.
Bitcoin Analysis
Bitcoin is experiencing a pullback within a descending channel while maintaining its primary uptrend. Highlights include:
- Resistance levels at $120,000, $122,056, and $123,181.
- Support levels at $111,965, $104,562, and $100,000.
- A breakout from the channel may lead to new highs above $123,000; falling below $111,965 could trigger a deeper sell-off.
Ether Analysis
Ether has broken out of a symmetrical triangle, reaching over $4,200, a level not seen in four years. Key insights include:
- Resistance levels at $4,400, $4,875, and $5,000.
- Support levels at $4,000, $3,941, and $3,737.
- This breakout signals the start of a potential strong uptrend with a retest of record highs above $4,800 possible.
