Bitcoin fell below $90,000 on Monday morning as investors scale back risk ahead of key macro events this week, including jobs and inflation data.
Bitcoin ETFs saw net outflows of $49.2 million on Friday, while Ethereum ETFs reported net outflows of $19.4 million.
Bitcoin is facing crucial resistance
Crypto analyst Michael van de Poppe noted that Bitcoin breached Sunday’s lows, recovered quickly, closed the CME gap and is now consolidating at a critical resistance near $90,000.
A clean breakout could trigger a quick move to $92,000-$94,000 and increase the chances of a push towards $100,000. However, failure to recover $90,000 could open the door for a deeper pullback, making this week crucial for the price.
Crypto trader Jelle added that Bitcoin is trading sideways around the monthly open and has printed a new local lower low, increasing pressure on the bulls and making the setup more vulnerable.
Jelle marked that Ethereum has regained its key support zone, a constructive technical development.
The structure looks healthier compared to Bitcoin, with $4,000 remaining the key level to break.
A move above that could send ETH into price development.
Cold-blooded Schiller noted Solana cuts around USD 130, with a major support at USD 125.
Even though the RSI has been reset, the monthly chart still shows a bearish divergence.
If it breaks $125, the downside could be sharp, with limited support to much lower levels.
Crypto chart analyst Ali Martinez be that XRP has printed a TD buy signal, but the setup depends entirely on holding $1.90. If that level holds, a move towards $2.50 becomes possible.
The meme coin sector underperformed, falling 2.5% despite a relatively flat broader crypto market. Martinez added that Dogecoin could find support near USD 0.10, with a deeper downside support zone around USD 0.062.
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