Bitcoin (BTC): Post-ATH Crash Incoming? XRP on Verge of Major Trend Test Now, Solana's (SOL) $200 Surge Looms
Emily HarrisBitcoin Reaches New Heights, But Caution Looms
Bitcoin recently surged to an all-time high near $112,000, sparking market euphoria. However, signs of exhaustion are emerging on the daily chart. Long upper wicks on recent candlesticks suggest rejection at higher levels, and the price has already dipped below $110,000 with declining volume.
The Relative Strength Index (RSI) is trending lower from overbought territory above 70, signaling potential for a deeper correction. If Bitcoin loses the $107,000-$108,000 support zone, it could retreat to the $102,000 breakout point. A break below this level would likely accelerate bearish momentum.
Macroeconomic Headwinds Emerge
Adding to technical risks, a major macroeconomic development looms. On June 1, 2025, new 50% tariffs on EU imports take effect, potentially triggering economic reprisals. This uncertainty could impact global risk assets, including cryptocurrencies, as investors may shift capital to safer positions.
A tariff war could reduce market liquidity and dampen institutional interest. Bitcoin's speculative rally makes it particularly vulnerable to geopolitical pressures. Traders should watch the $102,000 level closely - a breakdown could signal the end of the post-ATH celebration.
XRP Struggles to Keep Pace with Bitcoin's Dominance
While Bitcoin dominates market attention, XRP lags behind despite technically recovering key moving averages and breaking its descending channel. Currently trading near $2.45, XRP maintains support between $2.30-$2.35 but shows muted momentum compared to Bitcoin's rally.
The 100- and 200-day EMAs provide some bullish structure, but price action remains choppy. With RSI neutral and volume unimpressive, XRP lacks catalysts for a sustained breakout.
Bitcoin's Gravity Weighs on Altcoins
Bitcoin's growing market dominance continues draining capital from altcoins like XRP. During such periods, altcoins typically struggle for inflows while Bitcoin commands attention. XRP's regulatory challenges and inconsistent on-chain metrics further limit its appeal in the current risk-on environment.
Unless Bitcoin's dominance declines, XRP may remain sidelined. A decisive move above $2.60 with strong volume could change this narrative, but for now, the altcoin lags the broader bull market.
Solana's Momentum Builds Toward the $200 Mark
Solana shows renewed strength as it approaches $186, with $200 in sight. The asset recently broke from consolidation, confirming its uptrend. Technical indicators suggest potential for further gains if current conditions hold.
A notable development is the 26-day EMA crossing above several key moving averages, including the 50 and 100 EMAs. While not a traditional golden cross, this signals growing bullish momentum that could support a push toward $200.
Short-term strength and increasing investor interest create a foundation for potential continuation. Market participants will watch for sustained buying pressure to confirm Solana's next leg upward.
