The crypto rally that followed the US midterm elections has run out of steam. Bitcoin, Ethereum and XRP all tried to break through key resistance this week, and all three have now given back those gains in a drop over the past hour.
The sell-off came as reports emerged that the US military is preparing for a possible return to major combat operations in Iran.
Crypto Prices Right Now
According to market data:
- Bitcoin: $76,584, down 3.5% in the past hour and 2.5% over 7 days
- Ethereum: $2,283, down 3.9% in the past hour but still up 0.7% over 7 days
- XRP: $1.26, down 2.9% in the past hour and 0.8% over 7 days
- BNB: $694.57, down 2.0% in the past hour and 5.7% over 7 days
On a 24-hour basis, prices are close to flat, which shows how quickly the earlier bounce has been wiped out.
Why Bitcoin Stalled
Bitcoin’s bounce ran straight into a wall. An analyst who tracks Bitcoin across several timeframes had flagged $80,000 to $82,000 as a strong resistance zone, because it used to be support and has now flipped. Here is how the move played out:
- Bitcoin dipped just below $76,000 to clear out leveraged positions, then bounced
- The bounce slowed as it neared the $80,000 to $82,000 resistance
- The daily chart still shows a bearish divergence, a sign of fading momentum, and it has not been cancelled out yet
The same view had warned that, even if the bounce continued, Bitcoin would likely struggle around this zone instead of breaking through cleanly.
Ethereum And XRP Lost Their Breakouts
Ethereum: ETH had briefly moved above $2,400, testing a key level between $2,360 and $2,380. A confirmed breakout needed a daily close above $2,400. With ETH back near $2,283, that breakout has failed for now.
XRP: XRP had been trying to break above $1.27 to $1.29, a zone that acted as support for almost two months. At $1.26, it has slipped back below that range.
Bitcoin’s share of the total crypto market is also stuck near resistance at 60.5% to 61%. While that holds, most altcoins are expected to follow Bitcoin’s lead.
What’s Next For Bitcoin, Ethereum And XRP?
Bitcoin levels to watch:
- Support: $75,000 to $76,000
- Resistance: $80,000 to $82,000, with a cluster of liquidation orders near $82,000
- Risk: If Bitcoin keeps getting rejected below $80,000 to $82,000 and falls back to the mid-$70,000s, it could complete a bearish head-and-shoulders pattern that points to the low-to-mid $60,000s. The pattern is not confirmed yet.
Ethereum levels to watch:
- Breakout trigger: a daily close above $2,400
- Next resistance: $2,520 to $2,540
XRP levels to watch:
- Breakout trigger: a move back above $1.27 to $1.29
- Next resistance: about $1.33, then $1.35 to $1.36
The long-term picture for Bitcoin has not broken. The weekly Supertrend indicator is still green, and a bullish divergence on the weekly chart remains in place. In the short term, though, the market is still in a cool-off phase. Geopolitical risk is rising again, so buyers will need to defend the $75,000 to $76,000 zone to avoid a deeper pullback.
Was this writing helpful?
Story Ends Here
Trust with CoinPedia:
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.
Investment Disclaimer:
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 and Advertisements:
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.
Read the Next News