Bitcoin, Ethereum, Ripple enter technical rebound phase after correction... Status of each coin 'supporting indicator lines'

Market Overview: Volatility Eases, Signals of Stabilization

Major cryptocurrencies that experienced extreme fluctuations last week are now entering a defensive phase around technical resistance levels this week. Bitcoin(BTC), Ethereum(ETH), and Ripple(XRP) are all recovering from lows as buying interest emerges near their daily key support levels.

• BTC: Trading around $87.67K ($86.42K daily low)
• ETH: Trading around $2.94K ($2.89K daily low)
• XRP: Trading around $1.86 ($1.84 daily low)

However, market sentiment has not fully recovered, and whether this rebound signifies a genuine trend reversal or is merely a Dead Cat Bounce before further decline depends on whether each coin can break through key resistance levels.

Background of Price Adjustment: From Panic Selling to Technical Rebound

After last week’s relentless sell-off climax, investor fatigue has sparked expectations of “bottom confirmation.” The fact that all three assets are still holding their primary defense lines formed during last week’s extreme fear-driven sell-off is a positive sign.

Nevertheless, rushing to chase gains before volatility is fully resolved can be risky, and malicious sell orders may emerge at each upward move.

Bitcoin(BTC): Defense at 87K and Reclaiming 90K Signals ‘Resumption of Uptrend’

Bitcoin peaked at $106,453 on November 11 and then plunged over 20% in about 12 days. It dropped to $80,600 intraday last Friday, heightening anxiety, but buying interest during the weekend helped turn the tide.

Current Technical Situation:

• Current Price: $87.67K (Daily -0.10%)
• Short-term Support: around $86.5K
• Major Resistance: $90,000 (First Barrier)
• Psychological Support: $80,000

(Scenario Analysis

Bullish Scenario: If BTC breaks and stabilizes above $90,000 strongly, the market is likely to interpret this rebound not just as short covering)Short Covering### but as a “genuine rally starting from the early 80Ks.”

Bearish Scenario: If it fails to break resistance at $90,000 and declines again, the previous low of $80,600 and the psychological level of $80,000 could be tested again.

RSI Signal: The daily RSI has moved out of oversold territory and risen to around 30, but whether it can settle above 40 and form bullish divergence will be key to future momentum.

Ethereum(ETH): Hold at 2.75K… Reclaiming 3.0K Is the Key to Confirming an Uptrend

Ethereum fell over 18% after failing to retest the trendline on November 13, reaching a low of $2,623 last Friday. Fortunately, it managed to hold the Fibonacci 61.8% retracement level at $2,749 over the weekend.

Current Technical Situation:

• Current Price: $2.94K (Daily -0.87%)
• Absolute Support: $2,749 (Fibonacci 61.8%)
• Previous Low: $2,623
• Major Resistance: $3,017

(Technical Structure Analysis

Importance of the Lower Support: $2,749 is Ethereum’s lifeline. If this level breaks, further decline towards $2,623 could occur.

Significance of the Upper Resistance: Reclaiming $3,017 is essential. Only then can the recent decline be considered a healthy correction within an uptrend.

RSI Situation: Similar to BTC, the RSI has moved out of oversold territory and shows signs of rebound, but until $3,017 resistance is broken, a cautious approach is warranted, viewing this as a technical rebound within a downtrend.

Ripple)XRP(: Reconfirming 1.96… Defensive Phase Continues Until Breakthrough of 2.35

Ripple turned down after hitting resistance at $2.38 on November 13, where the 50-day EMA was located, and entered a decline. It fell about 19% over 8 days, dropping to $1.82 at one point last Friday, but successfully held the daily support at $1.966 during the weekend.

Current Technical Situation:

• Current Price: $1.86 )Daily -0.95%###
• Double Bottoms: $1.82 (Previous Low), $1.966 (Daily Support)
• Major Resistance Zone: $2.35

(Box Range Analysis

Downside Defense: The $1.82 and $1.966 levels act as double bottoms. If both support levels break simultaneously, the medium-term bullish structure could be compromised, so caution is needed.

Upside Resistance: $2.35 is the zone where previous rebound attempts failed. Until XRP convincingly breaks this level, the current upward movement should be viewed as a “technical rebound” or “defensive stance.”

RSI Perspective: RSI has risen to around 41, exiting oversold territory, but remains below the neutral 50 level, indicating that buying momentum is not yet confirmed. The breakout of either the upper boundary)2.35( or the lower boundary)1.966( will likely determine future momentum.

Technical Checkpoints for Investors

Key indicators to watch this week:

• BTC’s ability to break resistance
• ETH’s potential to recover $3,017
• XRP’s breakout above $2.35 or breakdown below $1.966

Currently, it’s wise to approach as “exploring direction near key technical levels rather than being certain of a bottom.” Until volatility is significantly reduced, maintain a defensive stance and monitor the breakout points of each coin’s key resistance levels.