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- Bitcoin struggles to hold above $102K as bearish signals grow.
- Ethereum faces resistance at $3,700 with weak buying momentum.
- A strong rebound above key levels could restore short-term confidence.
Bitcoin and Ethereum are facing a pivotal moment as selling pressure returns to the crypto market. The strong rally that lifted prices earlier this month has lost steam, and traders are watching key support levels that could determine the market’s next move.
Bitcoin’s Struggle Near $102K Raises Bearish Concerns
Bitcoin (BTC) has failed to maintain momentum after rejection near the $104,000 mark, slipping back toward $102,000. Analysts warn that a daily close below this zone could expose the asset to further downside, possibly testing the $98,000 level—a key area that has repeatedly served as support but is now showing signs of fatigue.
On the charts, BTC continues to form lower highs and lower lows, a classic sign of a weakening trend. Unless the price rebounds above the $104,000–$106,000 range soon, a deeper correction below $100,000 could follow. The threat of a potential “death cross,” where short-term moving averages dip beneath long-term ones, adds to the cautious mood among traders.
Ethereum’s Rebound Attempts Falter
Ethereum (ETH) mirrors Bitcoin’s weakness. After briefly climbing from $3,000, ETH once again lost momentum below resistance near $3,700. For now, the token remains trapped in a tight trading range with limited buying volume. A decisive move above $3,700 could restore confidence, but failure to hold current levels might send the coin back toward $2,800 — a key mid-range floor tested multiple times this year.
Market Sentiment Turns Cautious
Across the altcoin market, performance remains mixed. While a few smaller tokens have managed modest gains, most continue to move sideways, waiting for a clearer signal from Bitcoin and Ethereum. With volatility shrinking and volume thinning, the broader sentiment leans defensive.
Also Read: Bitcoin Mining Is a Zero-Sum Game,” Warns MARA CEO Fred Thiel
The coming days will be crucial for the crypto market. If Bitcoin can reclaim ground above $104,000 and Ethereum breaks past $3,700, momentum could return and spark a short-term recovery. However, a drop below current support zones may trigger another round of selling before stability returns.
For now, traders remain cautious, watching whether the market can find its footing or slip deeper into correction territory as November unfolds.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
