The crypto market just pulled off a dramatic reversal, with Bitcoin rebounding from $91,252 to $101,549 as of writing in hours. Every time BTC dips to this level, buyers aggressively defend it, making it a strong demand zone. Ethereum and XRP followed suit, bouncing off their respective supports. But is this the start of a new uptrend, or just another temporary relief rally?
Bitcoin has once again demonstrated why $91,252 is a critical level, with bulls stepping in and triggering a strong bounce. This pattern has been seen multiple times, signalling that large players see this area as a prime accumulation zone. The rapid recovery has also forced short liquidations, adding fuel to the rally.
If BTC stays above $100K, the next target is $103K, followed by a potential push to $109K. However, a break below $91K could bring $82K into focus.
Ethereum wasn’t spared from today’s dip, crashing to $2,222 before rebounding to $2,766. Just like Bitcoin, ETH has consistently seen strong buying pressure around these levels, preventing further declines. The bounce suggests whales and institutions are still accumulating despite market-wide uncertainty.
Ethereum must break and hold above $2,815 to regain its bullish momentum. Otherwise, a retest of $2,555 is on the table.
XRP followed Bitcoin and Ethereum in a steep drop but managed to hold above $2.50, signaling strong demand in this area. The bounce back to $2.69 suggests that despite the volatility, buyers remain in control.
If XRP can push past $2.89, the next major resistance is at $3.40. On the flip side, losing $2.50 could trigger a deeper correction to $2.21.
Bitcoin, Ethereum, and XRP have all shown that strong hands are actively defending key levels, but the real test is whether they can sustain their momentum. If BTC stays above $100K and ETH clears $2,815, another leg higher is likely. Until then, expect high volatility, potential fakeouts, and strong reactions at support levels.
This post was last modified on Feb 03, 2025, 20:41 GMT 20:41