Foreign media analysis suggests that after a rapid upward movement in August, the crypto market has entered a consolidation phase. Bitcoin has been trading sideways around $80,000, while Ethereum and XRP have managed to hold their key support levels from earlier breakthroughs. SHIB has fallen back to its medium-term support area. Whether a continuation of the rebound is possible will depend on whether several major resistance levels can be broken through again.
Bitcoin consolidates around $80,000
The article states that Bitcoin previously rose from around $63,000 to over $81,000, with a monthly increase of nearly 30%. Currently, the price has returned to around $78,800, but it is still significantly above the 200-day moving average, indicating that the overall structure established after the previous breakthrough has not been disrupted.
From a short-term perspective, the range of $80,000 to $82,000 remains the most direct resistance zone. If the price continues to stay above $82,000, the market may send further upward signals. The first short-term support level is between $76,000 and $77,000, while deeper support is concentrated around $72,000.
- The current price is approximately $78,840.
- The direct resistance zone is between $80,000 and $82,000.
- The key support area is between $76,000 and $77,000.
XRP and Ethereum maintain a relatively strong structure
The article argues that XRP entered a consolidation phase after a significant rally in August. Although it has fallen from its high of $1.70, it is currently still trading above $1.35. This level is also close to its 200-day moving average, making it the most important support level at present. If this level can be maintained, the assumption that the previous long-term downward trend has been broken will be reinforced.
In terms of resistance, the first important range for XRP is between $1.45 and $1.50. If it breaks through this range again, market attention may shift to $1.55 and the previous high of $1.70.
On Ethereum's side, the price has stabilized around $2,470. The article points out that ETH previously rebounded rapidly from around $1,900 and once again crossed above the 200-day moving average. Currently, the range of $2,500 to $2,550 is an area that has not been effectively broken through in recent attempts to rise. If the price can hold above this range, it may indicate that this rebound will continue to extend.
- XRP Currently around $1.41, with a key support level at $1.35.
- Resistance above XRP is concentrated between $1.45 and $1.50.
- ETH Currently around $2,472, with short-term resistance between $2,500 and $2,550.
SHIB is still subject to long-term resistance
Compared to Bitcoin, Ethereum, and XRP, the trend of SHIB is relatively weaker. The article states that SHIB once rose to around $0.00000620, but failed to hold above the 200-day moving average, subsequently falling back to around $0.00000517. The failure to break through the long-term moving average is considered the main reason why its rebound has not been fully confirmed.
Currently, the market is more concerned with whether the price range of $0.00000495 to $0.00000500 can be maintained. If this area provides support, SHIB still has a chance to test the long-term resistance around $0.00000570 to $0.00000580 again. If it cannot stabilize, the pace of the rebound may continue to slow down.
