Bitcoin is trading between key support and resistance levels as bearish divergence limits its short-term momentum. Ethereum, Solana, XRP, and Chainlink are also consolidating around important price levels. Meanwhile, traders are watching Wednesday’s U.S. CPI inflation report and Thursday’s PPI data for clues about the Federal Reserve’s next move. Oil prices and the U.S. dollar could also influence market sentiment. These macroeconomic developments may affect Bitcoin’s recovery and the direction of the broader crypto market.
Bitcoin has been trading between support at $80,000–$82,000 and resistance at $86,000–$88,000. The price has struggled to break above resistance in recent weeks.
Bearish divergence on the daily and three-day charts suggests that buying momentum remains limited. Bitcoin could continue moving sideways or experience a minor pullback if it fails to break above resistance.
Meanwhile, the liquidation heatmap identifies a liquidity zone around $84,500–$84,600, which could act as a short-term price target. However, a move toward this level is not guaranteed.
The weekly Supertrend indicator remains green, and a longer-term bullish divergence is still present. These signals suggest that the broader trend remains positive, despite weaker short-term momentum.
Ethereum price is holding support near $2,400, but bearish divergence continues to limit its short-term momentum.
A break below $2,300 could weaken ETH’s current bullish structure. Until then, the price could continue consolidating around its current levels.
Ethereum may also follow Bitcoin’s direction as both cryptocurrencies trade within established ranges.
Solana is holding the $107–$110 support zone. Although its broader price structure remains bullish, bearish divergence suggests that further gains could be limited in the near term.
SOL could continue consolidating above support rather than immediately moving toward recent highs. A sustained move will depend on market conditions and buying momentum.
XRP price continues to trade between approximately $1.30 and $1.60. Bearish divergence on the daily chart indicates that buying momentum remains weak.
The price could remain within this range or experience a modest pullback if buyers fail to push it higher. Bitcoin’s next move could also influence XRP’s short-term direction.
Chainlink has recovered from the $11.80–$12.30 support zone but faces resistance between $14.10 and $14.40.
Bearish divergence on the three-day chart suggests that LINK could continue consolidating below this resistance. While its broader bullish structure remains intact, a sustained move above $14.40 would strengthen the case for further gains.
The reopening of the U.S. stock market could influence cryptocurrency trading this week as investors respond to broader market conditions. For now, the technical analysis points to consolidation across Bitcoin and major altcoins. Bitcoin’s ability to break above resistance or hold its support zone could help determine the next short-term direction for the wider crypto market.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Ethereum co-founder Vitalik Buterin has landed in Mumbai ahead of Devcon, the Ethereum Foundation’s flagship…
Binance will begin restoring withdrawals on Sunday, November 1, after last week’s record hack, with…
Chainlink is approaching a decisive rice zone, and the road to $20 is anything but…
RENDER is sitting at a critical zone, and the next move could decide whether its…
The global markets are heading into November on a bearish note, displaying uncertainty with rising…
Stacks (STX) is showing signs of a stronger recovery after spending much of October under…
