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Market observation: XRP shows signs of stopping the decline and rebounding, Bitcoin faces resistance at $66k
The overall market conditions for Bitcoin, XRP, and Ethereum remain weak, but short-term signs of stabilization have emerged. Charts show XRP is testing a key support level for the year, Bitcoin continues to oscillate above $60k, and Ethereum holds the $1,700 level without weakening.
XRP touches annual key support zone
XRP is currently priced around $1.08, close to its 2026 low. After breaking below the $1.28 support, each rebound has failed to set new highs, with short-term momentum clearly under pressure.
However, this zone is a major buying area for the year, where the market previously halted its decline in February and staged a rebound. As long as selling pressure continues to decrease, XRP has the potential to stage a short-term recovery from here.
The $1.05-1.10 range is the core support zone; $1.18 is the first observation point for a short-term rebound; $1.28 has shifted from support to strong resistance.
The current price is below the 50, 100, and 200-day moving averages, and the medium-term downtrend has not reversed. Only a firm hold above $1.28 will bring a substantial improvement in the trend.
Bitcoin's core resistance range: $65k-$66k
Bitcoin is currently in a wide-range oscillation. After a sharp drop from the $80k high to around $60k, bears have continued to exert pressure, but it has not triggered large-scale panic selling.
The price is now fluctuating around $61k, with multiple buy orders being filled in the $60k-$61k range, confirming the support's effectiveness. The earlier sharp decline was accompanied by high volume, but recent volume has decreased, indicating weakening selling pressure from bears.
Going forward, focus on the $65k-$66k resistance zone, which coincides with short-term moving averages and has repeatedly suppressed rebounds. Once it is effectively broken, short covering could push the price toward $70k-$72k.
Ethereum oscillates and builds a bottom near $1,700
After experiencing a deep decline this year, Ethereum is forming a short-term bottom in the $1,650-$1,700 range. Although the price is still below medium- and long-term moving averages, it has slightly recovered from the $1,600 low and has not set new lows for several consecutive days.
The sharp decline earlier was accompanied by a surge in volume, caused by concentrated selling and contract liquidations; subsequently, volume has continued to narrow, and the tug-of-war between bulls and bears has gradually become more balanced.
At this stage, Ethereum has only stopped its short-term decline, and a trend reversal cannot be confirmed. Until it breaks through key resistance above, the overall market will remain in a weak consolidation.#0成本拿2股SK海力士 #BTC下探60000美元关键关口
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Conan666
· 1h ago
Jump in! 🚗
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