Ether 'Bear Trap' Confirmed as Bitcoin Probes Friday High, XRP Eyes $2.30 Hurdle
Ether's confirmed bear trap signals upside potential as Bitcoin tests resistance and XRP targets the $2.30 level.Summary
Technical analysis indicates that Ether (ETH) has confirmed a classic bear trap, suggesting selling pressure has been absorbed and the path is set for an upside move toward Friday's high of $3,100 and potentially the Oct. 10 low of $3,500, with key support at $2,600-$2,700.
Meanwhile, Bitcoin (BTC) has bounced strongly from the $80,000-$83,000 support zone, probing the Friday swing high at $93,100; a breakout above this level could target the trendline from the October record highs, though consolidation is expected first.
XRP has turned higher from the $2 support, crossing above the hourly Ichimoku cloud, and is now eyeing resistance between $2.28 and $2.30; failure to clear this could lead to a drop back to $2.00, while Solana (SOL) approaches the upper boundary of its sideways channel near $145, with potential upside toward $165.
(Source：CoinDesk)