5 Minutes
Market snapshot: Crypto prices show early recovery
The cryptocurrency market is showing tentative signs of recovery today as XRP, Solana (SOL) and Chainlink (LINK) attempt to stabilize after recent pullbacks. Traders are watching key support and resistance levels, trendlines and Fibonacci retracement zones to determine whether the broader bullish trend can resume or if further downside tests are coming.
Summary of critical levels
- XRP is consolidating inside a descending triangle. The $2.70–$2.74 band is an important horizontal support; a break could target $2.58, while a decisive move above $2.99 would favor the bulls.
- SOL rebounded from the $193 area, where a rising trendline and the 0.382 Fibonacci level provide confluence. Holding above that zone keeps the path open toward $220–$240.
- LINK found buyers around $19.80–$20.10 (the 0.618 Fib) and must reclaim the $22 trendline resistance to restore the uptrend; failure could expose it to $18 or lower.
XRP technical analysis
XRP recently bounced from the $2.70 support and has established the $2.70–$2.74 zone as a short-term pivot. Price action is compressed between this horizontal floor and a descending trendline that has been capping rallies since July. This creates a descending triangle, a structure often interpreted as bearish when it resolves downward.
Repeated tests of the $2.70 area raise the probability of a breakdown, with the 0.618 Fibonacci retracement near $2.58 marking the next significant support if sellers press lower. Conversely, a breakout above the descending trendline and the 0.382 Fib at $2.99 — which also aligns with the psychological $3.00 level — would shift momentum back to buyers and could open a move toward the $3.20–$3.40 range.
Key XRP levels to watch
- Support: $2.70–$2.74, then $2.58 (0.618 Fib)
- Resistance: $2.99 (0.382 Fib), then $3.20–$3.40
Solana (SOL) outlook
SOL corrected sharply after peaking near $253 and found meaningful support at roughly $193. That area lines up with the 0.382 Fibonacci retracement of the prior rally and a rising trendline that’s been in play since mid-July. Prior resistance turning into support strengthens the case for buyers defending this zone.
Following the rebound, SOL reclaimed its 7-day simple moving average and rose toward $210. As long as SOL holds above the $193 confluence zone, the technical structure leans bullish, with room for a retracement toward $220–$240. A confirmed break below $193 would negate that setup and expose SOL to deeper retracements, with the 0.618 Fib near $155 serving as the next major floor.
SOL short-term pivot points
- Support: $193 (trendline + 0.382 Fib), next $155 (0.618 Fib)
- Resistance: $210–$220, then $240
Chainlink (LINK) recovery scenario
LINK dropped below its prior swing low but staged a recovery around the $19.80–$20.10 cluster — a level that coincides with the 0.618 Fibonacci retracement of the July–August advance and a prior breakout zone. That bounce allowed LINK to regain the 7-day SMA and consolidate near $21.20–$21.40.
However, the price still sits below the broken ascending trendline, which now acts as resistance near $22. A clear move back above that trendline would suggest buyers are reasserting control and could project LINK toward $24–$25. If LINK fails to breach resistance and drops back under $20, downside risk increases with the 0.786 Fib around $18 acting as the next support.
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Important LINK ranges
- Support: $19.80–$20.10, then $18 (0.786 Fib)
- Resistance: $22 (trendline), then $24–$25
What traders should monitor
Traders and investors following these altcoins should keep an eye on trendline integrity, Fibonacci confluences, volume on breakouts or breakdowns, and the behavior of short-term moving averages. On-chain metrics and market sentiment can add context — but price action around the listed support and resistance levels will likely determine the next directional bias for XRP, SOL and LINK.
Overall, the short-term picture favors cautious bulls so long as the key support zones hold; failure to defend them could invite deeper corrective moves across these crypto assets.
Source: crypto
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