Ether Eyes $3,400 After Breakout, XRP Warns of Potential Reversal
Ether has broken out of an expanding triangle and cleared the 61.8% Fibonacci retracement level, setting its sights on $3,400 while RSI exceeds 70, indicating strong momentum. The ETH/BTC ratio also signals Ether outperformance, with support holding near $2,933 to sustain the bullish outlook.
Bitcoin exited a descending channel on the hourly chart, formed a higher low around $117,000, and a bullish crossover in Ichimoku cloud and Guppy EMAs suggests a re-test of record highs, with support at $117,000 and $113,688.
Solana stabilizes above its 200-day SMA and eyes a move above the Ichimoku cloud to flip resistance at $168 into support, targeting $200 next.
In contrast, XRP’s hourly chart shows a bullish exit from a downtrend and a cloud breakout but a hanging man candle warns of a bearish reversal if $2.80 support fails. Traders should monitor volume confirmation, RSI divergences, and key support levels for potential breakouts or reversals.
Bullish
The breakout of Ether above key technical levels—expanding triangle and 61.8% Fibonacci retracement—combined with RSI above 70 and a strong ETH/BTC ratio, underpins a bullish outlook for Ether in both the short and long term. While Bitcoin and Solana also show constructive setups, the primary price driver is Ether’s momentum toward $3,400. XRP’s warning candle suggests caution, but it does not offset the broader bullish trend for Ether. Traders are likely to respond positively to the clear technical signals, driving further upside.