Why Are Bitcoin, Ethereum And XRP Prices Stalled Today? Rally Hits Resistance
The crypto rally that followed the US midterm elections has run out of steam. Bitcoin, Ethereum and XRP all tried to break through key resistance this week, and all three have now given back those gains in a drop over the past hour.The sell-off came as reports emerged that the US military is preparing for a possible return to major combat operations in Iran.Crypto Prices Right NowAccording to market data:Bitcoin: $76,584, down 3.5% in the past hour and 2.5% over 7 daysEthereum: $2,283, down 3.9% in the past hour but still up 0.7% over 7 daysXRP: $1.26, down 2.9% in the past hour and 0.8% over 7 daysBNB: $694.57, down 2.0% in the past hour and 5.7% over 7 daysOn a 24-hour basis, prices are close to flat, which shows how quickly the earlier bounce has been wiped out.Why Bitcoin StalledBitcoin’s bounce ran straight into a wall. An analyst who tracks Bitcoin across several timeframes had flagged $80,000 to $82,000 as a strong resistance zone, because it used to be support and has now flipped. Here is how the move played out:Bitcoin dipped just below $76,000 to clear out leveraged positions, then bouncedThe bounce slowed as it neared the $80,000 to $82,000 resistanceThe daily chart still shows a bearish divergence, a sign of fading momentum, and it has not been cancelled out yetThe same view had warned that, even if the bounce continued, Bitcoin would likely struggle around this zone instead of breaking through cleanly.Ethereum And XRP Lost Their BreakoutsEthereum: ETH had briefly moved above $2,400, testing a key level between $2,360 and $2,380. A confirmed breakout needed a daily close above $2,400. With ETH back near $2,283, that breakout has failed for now.XRP: XRP had been trying to break above $1.27 to $1.29, a zone that acted as support for almost two months. At $1.26, it has slipped back below that range.Bitcoin’s share of the total crypto market is also stuck near resistance at 60.5% to 61%. While that holds, most altcoins are expected to follow Bitcoin’s lead.What’s Next For Bitcoin, Ethereum And XRP?Bitcoin levels to watch:Support: $75,000 to $76,000Resistance: $80,000 to $82,000, with a cluster of liquidation orders near $82,000Risk: If Bitcoin keeps getting rejected below $80,000 to $82,000 and falls back to the mid-$70,000s, it could complete a bearish head-and-shoulders pattern that points to the low-to-mid $60,000s. The pattern is not confirmed yet.Ethereum levels to watch:Breakout trigger: a daily close above $2,400Next resistance: $2,520 to $2,540XRP levels to watch:Breakout trigger: a move back above $1.27 to $1.29Next resistance: about $1.33, then $1.35 to $1.36The long-term picture for Bitcoin has not broken. The weekly Supertrend indicator is still green, and a bullish divergence on the weekly chart remains in place. In the short term, though, the market is still in a cool-off phase. Geopolitical risk is rising again, so buyers will need to defend the $75,000 to $76,000 zone to avoid a deeper pullback.