This is a technical analysis article written by CoinDesk Analyst and Certified Market Technician Omkar Godbole.
Bitcoin
Bitcoin The 30-day implied volatility index (BVIV) contracted sharply to 48, decisively breaking the uptrend line established since the September lows. This break signals a dissipation of panic and the possibility of further compression of volatility.
Simultaneously, the new downward trend in the US Dollar Index provides additional tailwinds for sustained BTC price appreciation. It is worth noting that the correlation between spot and volatility has remained mostly negative since November last year, highlighting the inverse relationship at play.
Technically, BTC managed to reclaim Friday’s high of $93,104 as support, gaining a foothold in bullish territory above the Ichimoku Cloud on the hourly timeframe. The next upward impulse is expected during a bullish crossover in the MACD histogram, with attention turning to the $98,000-$100,000 resistance band defined by the descending trendline and key psychological barrier.
The bullish outlook would be at risk if BTC moves back below the Ichimoku cloud, signaling a potential erosion of bullish momentum.
XRP
XRP appears to be building a base near $2.20 for the next bullish leg after decisively breaking into bullish territory above the Ichimoku Cloud earlier this week. The dominant sideways consolidation coincides with a bearish crossover in the hourly MACD histogram; However, the lack of concomitant price erosion highlights latent underlying strength and argues for sustained bullish momentum.
Immediate overhead resistance lies at $2.28 and $2.30.
Ether
Ether extends its lead following a confirmed bear trap, as evidenced by two consecutive green daily candles characterized by minimal wicks, signaling clear buyer control. This bullish price action, reinforced by a positive MACD histogram on the daily timeframe, signals a high probability of continued upside targeting the October 10 low near $3,510.
However, interim gains could depend on a corrective retracement towards former resistance now acting as support at $3,100, as the MACD hourly histogram approaches a bearish crossover, potentially foreshadowing a near-term consolidation ahead of the next move higher.
Solana
SOL announces a breakout of its side channel, currently consolidating near the upper boundary at $144.74. A decisive break above this level would likely catalyze further upward momentum towards $165, the level identified using the measured movements method.
However, the hourly MACD histogram is primed for a bearish crossover, signaling a potential short-term pullback or extended consolidation phase before the breakout materializes.
