XRP, warning signal for bullish investors - Bitcoin is waiting for a break, Ethereum is on the rise | CoinDesk JAPAN

• XRP is still trading below the important level of $3.65 (the level at which a bearish pattern previously emerged), and on-chain data indicates the possibility of profit-taking by holders.
• Bitcoin remains within a descending channel during the rebound phase, waiting for a breakout to continue the rise trend.
• Ethereum has broken out of a long-term symmetrical triangle and is poised to enter a new rising trend aiming for its all-time high.

XRP: Not in a Comfortable Position Yet

XRP rose by 11% on the 7th and was reported to have broken out of a bullish flag pattern, suggesting a resurgence of upward momentum. However, it still remains significantly below the level of $3.65, where a bearish candlestick pattern known as a tweezer top was formed last month, making it difficult to assert a clear upward reversal.

The tweezer top is a bearish reversal pattern consisting of two candlesticks that close at the same high, and in this case, $3.65 served as a clear wall of selling pressure. This means that the market attempted to break through twice but failed, halting the bullish momentum.

For the chart to make a bullish reversal, it is necessary to first break through the supply pressure at 3.65 dollars and invalidate the bearish reversal pattern.

〈Weekly chart of XRP: TradingView〉However, it is not a simple matter. On-chain data suggests that XRP holders have significant unrealized gains and are strongly motivated to sell at the current levels.

The research company Alphractal posted on X that "the Net Unrealized Profit/Loss (NUPL) of XRP is at a high level not seen since the peak in 2021, and is approaching the levels of 2018. Such high levels have historically been a phase where distribution and price adjustments are likely to occur."

〈XRP's unrealized gains and losses: Alphractal〉* Resistance: $3.38, $3.65, $4.00

• Support: $2.99, $2.72, $2.65

Bitcoin: Waiting for a Break

The recent pullback of Bitcoin (BTC) is forming a descending channel (white line) within a significant rising trend (yellow line), creating a typical "bullish pause" pattern. This indicates an adjustment phase that digests the recent rise.

The rebound from the 50-day simple moving average (SMA) also supports the strength of this adjustment phase. While the short-term trend remains corrective, it indicates that the upward movement is dominant in the medium to long term.

〈Bitcoin price trend: TradingView〉If it clearly breaks out of the descending channel, the continuation of the bullish trend will be confirmed, and the possibility of updating the previous high of over 123,000 dollars will be in sight. On the other hand, if it moves below the high of 111,965 dollars from May, the risk of falling to 100,000 dollars will increase.

• Resistance: $120,000, $122,056, $123,181
• Support: $111,965, $104,562, $100,000

Ethereum: Significant Breakout

Ethereum (ETH) has risen to over $4,200, a level not seen in four years. The price has broken out of a long-term symmetrical triangle pattern that had persisted since the all-time high at the end of 2021, which is an important signal for the bulls.

〈Ethereum Price Trends: TradingView〉A clear breakout on the long-term chart indicates that the market has entered a new, strong bullish trend, paving the way to retest the all-time high of over $4800.

• Resistance: $4400, $4875, $5000
• Support: $4000, $3941, $3737

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