The cryptocurrency market is currently experiencing a volatile phase as traders weigh the next potential move for leading digital assets. Bitcoin (BTC) trades at $108,876, Ethereum (ETH) holds above $4,350, and XRP consolidates near $2.81 as cryptocurrency markets maintain a $3.78 trillion market capitalization despite 24-hour trading volume declining 26.71% to $140.15 billion.
Bitcoin maintains 57.4% market dominance while Ethereum commands 14% market share, though both major cryptocurrencies face technical resistance after recent all-time highs, setting up potential September volatility.
Despite the overall bullish structure of the long-term cycle, the market has recently been under pressure as both BTC and ETH struggle to reclaim key resistance levels, while XRP consolidates in a tight range. Investors are closely watching whether September could spark a decisive breakout or trigger deeper corrections. Let’s break down the technical outlook for BTC, ETH, and XRP.
Will Bitcoin Price Hit $100K This September?
Bitcoin is currently trading around $108,876 as per the data from CoinMarketCap, showing a modest intraday gain of 0.46%. However, the bigger picture reflects a sustained pullback as it is constantly recording a lower high since BTC marked its all-time high at $126,414.
The daily chart reveals BTC struggling below its 9-day SMA which is the blue line or the $112,091 mark, and has now converted into a key resistance level. The Relative Strength Index (RSI) has dropped from 79 to 38.89 in two weeks, highlighting bearish momentum, placing BTC close to oversold territory.
The immediate resistance lies at $110,485, followed by its upper resistance levels at $112,000 which is the SMA trendline and $116,000 range respectively where sellers have repeatedly defended.
On the downside, BTC is holding just above $107,656, with the next major support resting at $104,582. Bitcoin’s ability to defend current support levels will determine whether the correction continues toward the psychological $100,000 level or if buying interest emerges for potential recovery.
Ethereum Price Holds Above $4,350 Mark
Ethereum is trading at $4,369, edging slightly higher after defending support. ETH reached an all-time high at $4,891, but like Bitcoin, it has faced rejection at higher levels, signaling selling pressure.
The daily Exponential Moving Average (EMAs) highlights critical zones. ETH is currently trading just below the 20-day EMA that is $4,379, reflecting short-term weakness. Notably, a strong daily close above this level would strengthen bullish sentiment.
The Moving Average Convergence Divergence (MACD) indicator remains bearish, with the histogram showing persistent red bars and the MACD line sitting below the signal line. This suggests sellers are still in control of the Ethereum token in the market.
Support rests at $4,350 and $4,042, with a stronger floor near $3,969. A breakdown below these levels could drag ETH toward $3,750, where major buying interest is likely to reemerge. Conversely, if bulls push ETH above $4,625, the path toward retesting the $4,891 all-time high becomes clearer.
XRP to Reclaim $3?
Ripple’s XRP is trading around $2.81, showing sideways consolidation after repeated failures to reclaim the $3.00 resistance zone. Despite the broader market’s decline, XRP’s volatility has remained relatively controlled compared to BTC and ETH.
On the daily chart, XRP has been rejected multiple times near $3.25, marking it as a key resistance. The Bollinger Bands are tightening, indicating a likely breakout move in the coming sessions.
The Bear Bull Power (BBP) sits at -0.3094, reflecting increased selling pressure. If bears maintain control, XRP risks slipping toward $2.75 and further down to the major support at $2.50.
However, a close above $3.00 and $3.25 could flip momentum bullish, opening the door for a rally toward $3.50 and potentially $3.65. Volume trends show declining participation, meaning a strong breakout will require renewed market interest.
September Outlook Depends on Support Defense
The cryptocurrency market’s September performance hinges on major cryptocurrencies’ ability to defend current technical support levels. Bitcoin’s proximity to the psychological $100,000 level, Ethereum’s defense of $4,350, and XRP’s consolidation pattern suggest potential for significant volatility.
Declining trading volume indicates reduced market participation, which could amplify price movements once directional momentum emerges. Technical indicators across all three assets show bearish momentum, though oversold conditions may provide near-term bounce opportunities.
Also Read: Weekly Wrap: Crypto Market Tumbles, Bitcoin Whales Pivot to ETH, Altcoins Treasuries, and More
Disclaimer: The Crypto Times does not endorse or promote this digital asset in any manner. This article was created only for educational purposes. Make sure to “DYOR” as the market is highly volatile. New positions should be done by traders being careful and awaiting volume-backed breakouts.
