The Ethereum price recently managed to rise above the $2,100 level, injecting new momentum into the market. However, the rally proved short-lived. Data currently points to a mixed picture, with signs of both selling pressure and accumulation by investors.
The ETH/USD pair has been trading within the main sideways range of 2187.50–1875.00 (Murray levels [3/8]–[2/8]) for the second consecutive month, awaiting new drivers that will determine the next direction of price movement. A consolidation above the upper boundary of the range at 2187.50 (Murray level [3/8]) could trigger growth toward 2500.00 (Murray level [4/8]), 2812.50 (Murray level [5/8], Fibonacci retracement 61.8%), and 3125.00 (Murray level [6/8], Fibonacci retracement 50.0%). On the other hand, a breakout below 1875.00 (Murray level [2/8], the lower Bollinger Band) would likely accelerate the bearish move toward targets at 1481.60 (Fibonacci retracement 100.0%) and 1250.00 (Murray level [0/8]).
Bittensor continues to show strong momentum in the cryptocurrency market and is gradually approaching the psychological $200 level. Over the past 24 hours, the AI token TAO has gained about 10%, extending its recent recovery phase.
The SOL/USD pair has been trading within a sideways range of 91.00–75.00 (upper and lower Bollinger Bands) for the second consecutive month and is currently approaching the upper boundary of this corridor. At the same time, analysts remain divided regarding the future direction of the market. Many experts believe that the overall weakness of the cryptocurrency market has likely reached its bottom and that a recovery could begin soon. However, some specialists remain skeptical, warning that the recent rally may represent a “bull trap,” similar to the situation in January when prices briefly moved higher before sharply correcting downward.
The XRP/USD pair remains within a long-term downward trend, forming a corresponding channel. However, at the end of last month the price stabilized within a narrow sideways range of 1.4400–1.3350 and has not yet managed to break out, awaiting new market catalysts. The key level for bears is seen at 1.1718 (Murray level [2/8]), which the price unsuccessfully tested last month. A breakout below this level would signal a resumption of the downward movement toward 0.7812 (Murray level [0/8]) and 0.5859 (Murray level [–1/8]).
Since early February, the ETH/USD pair has been moving within a broad sideways range of 2187.50–1875.00 (Murray [3/8]–[2/8]) and has so far failed to break out. A move beyond either boundary is expected to trigger the next major price swing. If the price consolidates above 2187.50 (Murray [3/8]), upside targets will come into focus at 2500.00 (Murray [4/8]), 2812.50 (Murray [5/8], Fibonacci retracement 61.8%), and 3125.00 (Murray [6/8], Fibonacci retracement 50.0%). If 1875.00 (Murray [2/8]) is broken to the downside, the asset may resume its decline toward 1481.50 (Fibonacci retracement 100.0%) and 1250.00 (Murray [0/8]).
Ripple CEO Brad Garlinghouse said he had a private meeting with former U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, which, according to Garlinghouse, took place at the White House. During the conversation, Gensler allegedly apologized for his stance on XRP, saying: “I’m sorry, I was wrong.”
The SOL/USD pair has exited a descending channel and entered a 91.00–75.00 range (the upper and lower boundaries of the Bollinger Bands), where it has remained for a third consecutive week. The day before, the instrument once again tested the upper boundary of this range but failed to break higher.