Crypto Market Faces Key Rejections and Support Tests: Bitcoin, XRP, and Chainlink in Focus
Bitcoin ($BTC) faced a strong rejection at the $105,900 level, once again struggling to break through this major resistance zone.
The cryptocurrency market is experiencing notable resistance and potential retracements across major assets, as highlighted by analyst Ali Martinez in a series of recent technical updates.
Bitcoin (BTC): Rejected at $105,900
Bitcoin has faced a strong rejection once again at the $105,900 level, a price point that has proven to be a significant resistance zone. After testing this upper boundary, BTC saw a sharp pullback, now hovering near $103,800.
According to Ali, key support zones lie at $103,400 and $101,300, levels that bulls must defend to prevent a deeper correction.
XRP: At Risk of Dropping to $2
XRP is displaying a classic Head and Shoulders pattern — a technical formation that often signals a trend reversal.
With the asset currently testing critical support at $2.30, the risk of a drop to $2.00 looms if this level fails to hold. Traders are closely watching this zone as a breakdown could trigger further bearish momentum.
Chainlink (LINK): Eyes on $10
Chainlink has also encountered resistance after a recent rally, with Ali noting that $LINK may be heading back to $10 if bearish sentiment persists. The current rejection appears to be forming a lower high, potentially setting the stage for a continuation downward unless buying pressure re-emerges.
Market Outlook
The broader crypto market is in a phase of testing critical levels. Whether these supports hold or give way could determine the short-term direction of major assets. Traders are advised to stay alert and monitor these zones closely, as volatility remains high.
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