Bitcoin is trading at $63,471.80 on the 2-hour chart given below and it hasn’t budged on the candle, opening at $63,430.70. But behind that soothing figure lies a broken uptrend. But the important thing is not going to be broadcast about bitcoin; the other four assets are currently looking a little worse, and two have failed just before bitcoin did.
Bitcoin: The support trendline has already been broken
Bitcoin began a smooth ascent from a low around the $62K level on July 13 through last Monday. After peaking near the $67K level on July 21st and retreating into a lower high, the price came off the $65.3K area for a session bottom near the $63.3K area just after midday Friday, settling currently around $63,400. Presently below the $64,315 pivot support while riding above the $62,531 support level, with the next barrier around the $59,800 level if the breakdown happens in HTF.
The RSI reading is 47.72 and the MACD histogram is -22.20 . The momentum already turned down prior to breaking down the trendline. Now, the chart has just caught up to this development.
Solana entered weak territory before Bitcoin
The price of Solana at $73.20 is below $75.11’s pivot and RSI at 44.77. For the momentum indicator MACD, it has continued to remain negative. Solana at 2.5 percent is relatively further away from the pivot than Bitcoin is, and the RSI has begun to be below 50’s mean longer than it seems from a BTC chart. It would appear we may be seeing weakening for altcoins and then a trickle down to Bitcoin.
XRP is sitting at the bottom of the cohort
XRP is changing hands at $1.05 with a 41.28 RSI, the lowest of any of the five assets. The MACD histogram is at a flat -0.00033882, and on such a low-priced asset, this means momentum has cooled off but hasn’t necessarily reversed sharply. XRP’s pivot is $1.08, less than 3 cents away but nearly 3 percent from its price, the widest pivot gap of the group on a percentage basis.
Volume corroborates this, with XRP volume at $1.41 billion in the past 24 hours and it is the second lowest. With that mentioned, low volumes and the lowest RSI may confirm minimal interest in bidding at this level of support.
RSI is the strongest for Ethereum
Ethereum trades at $1,889.19 with RSI at 55.52 and is the only metric actually charting above the centerline of our five digital assets. It possesses a positive MACD histogram of 1.11 and trades barely below its pivot at $1,916.50. Another factor to acknowledge here: Ethereum can, by and large, also offer real volume at a clip of $12.69 billion in a given 24 hours, second only to bitcoin. A confluence of an above 50 RSI and a positive MACD with notable volume suggests ethereum is the only asset we present here, still maintaining something resembling an intact uptrend.
BNB is holding close to the support
BNB trades at $568.04 and is carrying the figure from RSI at 44.80 and a MACD histogram of positive 0.41. Its pivot is sitting at $569.08, and that is above the current price. A gap under 0.2 percent, which makes it the tightest of any asset on this list. That narrow gap mentioned, the gap, has significance. This digital asset is one small push away from reclaiming its pivot, but it is doing this on just $951.74 million in 24-hour volume, the lowest of the five. Thin volume behind a small positive MACD reading is not conviction. It just means nobody with size has decided which way to push BNB yet.
