Bitcoin, Ethereum and XRP are all testing support levels that could decide whether the crypto market recovers or falls further, according to analysts Ali Martinez and Gareth Soloway. Martinez said all three could rebound “but only if these levels hold,” while Soloway’s view of Bitcoin and Ethereum is similar, though he places the trigger points differently.
Bitcoin: Both Watch $81,000
Martinez and Soloway both see $81,000 as the important level for Bitcoin.
Martinez said $81,000 is the bottom of Bitcoin’s rising channel on the daily chart. If buyers defend it, BTC could move to the middle of the channel at $84,000, then to the top at $86,500. A break below $81,000 would shift his focus to $76,000.
Soloway said Bitcoin is stuck in a range of about $6,000, between $81,000 and $87,200. It briefly fell to about $79,750 before climbing back above support. A move above $87,200 could take BTC to a rising trendline near $91,000; by late November, that trendline would be near $97,000. A daily close below $81,000 would point to lower prices.
Soloway said the bullish structure is intact, though he called the price action “not the healthiest.” He said Bitcoin has held up despite the slide in AI stocks and the Nasdaq. He currently has no swing position in BTC.
Ethereum: $2,350 Or Sub-$2,000
Martinez said ETH is testing $2,350, the support line of a right-angled ascending broadening pattern. A bounce from there could take it to $2,700, or as high as $3,000. A daily close below $2,350 would bring $2,000 into focus.
Soloway said ETH has held its key support but has not yet broken its key resistance. A breakout should lead to a retest of $2,800. A breakdown could send ETH below $2,000, where Soloway said he would be a heavy buyer.
XRP: An Inverse Head And Shoulders In The Making
Martinez is watching $1.25 for XRP. On the three-day chart, holding that level could complete the right shoulder of a possible inverse head-and-shoulders pattern, a setup that often comes before a trend reversal.
Confirmation would require a sustained close above $1.56, with a target of $2 if confirmed. Losing $1.25 would bring $1 into view, according to Martinez.
