The crypto space has not shown any signs of positive momentum and continues to trade in a sideways pattern. While the upside remains well capped, also downside momentum seems to remain limited. Most tokens continue to trade in a tight sideways range. Vice versa also the Nasdaq technology index in the US remains positive but keeps lagging behind the S&P 500 index. A rise of the Nasdaq has been usually followed by the crypto market. With the momentum fading also the current weakness of the Dollar seems not to help much. Markets might hence continue to trade in a sideways pattern.
Technical analysis:
– BTC: Bitcoin is trading at USD 87,708. The market continues its sideways path and keeps trading in a tight range. The weekly chart shows that no breakout into either direction from the USD 90,000 area has been happening. While the upside remains capped also downside momentum seems not on the cards. The market might hence remain well supported at current levels as long the price does not break the USD 82,000 level.
BTCUSD, weekly chart
Should the upside momentum gear up some speed, the price could quickly trade towards the 50- moving average at around USD 101,782. A break higher might then unleash fresh positive momentum and could cause the bull- market to return as well.
– ETH: Ethereum is currently trading at USD 2,939. Similarly to Bitcoin also Ethereum keeps trading in a sideways pattern. Any attempt of a breakout to the upside has been fading again pushing prices lower again. Only a push above the psychological USD 3,000 level might unleash fresh buying power.
ETHUSD, weekly chart
As the weekly chart above shows, also the 50- moving average keeps limiting the price from breaking higher. A break above the USD 3,500 handle would hence indicate that the recent support zone has been defended indicating another rise in this market.
– XRP: XRP is currently trading at USD 1.8739. The market has fallen back below the psychological USD 2.0000 level and might hence continue sliding lower. Currently, Ripple is trading below the technical support zone from December 2017, which also might indicate the bearish momentum.
XRPUSD, monthly chart
A push above USD 2.0000 is clearly needed in order to offer fresh upside momentum. A break below the USD 1.7000 area might indicate that prices will continue to push lower, which seems rather likely for now.
– SOL: Solana is currently trading at USD 123.81. The market currently trades at the important support level of USD 120.00. A break lower might indicate a further slide in prices. The current zone supported the market several times, all the way back to March 2024.
SOLUSD, weekly chart
As the weekly chart above shows, the price keeps sliding on a weekly basis as the bearish momentum keeps being in control. Positive momentum is expected to gear up steam if the 50- moving average level can break and the market will push above that zone.
Vantage does not represent or warrant that the material provided here is accurate, current, or complete, and therefore should not be relied upon as such. The information provided here, whether from a third party or not, is not to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any financial instruments; or to participate in any specific trading strategy. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. We advise any readers of this content to seek their own advice. Without the approval of Vantage, reproduction or redistribution of this information is not permitted.
About Us
Premium Client
Premium Perks
Premium Trading
Vantage Plus Research Team 
