ETH Tracks BTC’s Counter-Trend Moves as XRP Holds $2 and SOL Remains Range-Bound
Bitcoin (BTC)
Bitcoin is consolidating within a counter-trend rising channel on the hourly chart, still confined by a larger descending trend. A breakout above $96,500, where the channel top intersects the main bearish trendline, would signal renewed bullish momentum and a potential medium-term uptrend.
Weekly charts support this view, as BTC repeatedly defends the 100-week SMA, suggesting that selling pressure is easing and a reversal may be on the horizon.
Ether (ETH)
Ether mirrors BTC’s pattern, trading in a rising counter-trend channel amid a broader downtrend. A decisive move above $3,200, the channel’s resistance, would confirm a bullish shift and open the door toward $3,620, the Nov. 10 lower-high level.
If the channel fails, downside pressure could return, with $2,630 as the next key support. $3,200 remains the critical pivot for the near-term trend.
XRP
XRP is testing its pivotal $2 support, a level that has repeatedly absorbed selling pressure this year, evident in long-tailed weekly candles. Momentum remains bearish, with the 5- and 10-week SMAs sloping down.
A break below $2 could trigger capitulation toward $1.63, the 61.8% Fibonacci retracement of the 2024–2025 rally. Conversely, daily closes above $2.30 would challenge the pattern of lower highs and suggest a bullish recovery.
Solana (SOL)
Solana continues to trade sideways, oscillating between $145 resistance and $120 support, currently near $134.
Directional momentum is muted. A breakout above the range could target $160, while a breakdown would extend the broader downtrend.
