Bitcoin price started a steady increase above the $86,500 zone. BTC is now correcting gains and might find bids near the $87,000.

• Bitcoin started a decent recovery wave above the $87,000 zone.
• The price is trading above $86,800 and the 100 hourly Simple moving average.
• There is a connecting bullish trend line forming with support at $87,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start another increase if it clears the $88,000 and $88,800 levels.

Bitcoin Price Starts Consolidation

Bitcoin price remained stable above the $84,200 level. BTC formed a base and recently started a recovery wave above the $86,500 resistance level.

The bulls pushed the price above the $88,000 resistance level. However, the bears were active near the $88,800 resistance zone. The recent swing high was formed at $88,500 and the price corrected some gains. There was a move below the $88,000 level.

The price dipped and tested the 50% Fib retracement level of the upward move from the $86,306 swing low to the $88,500 high. Bitcoin price is now trading above $86,500 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $87,400 on the hourly chart of the BTC/USD pair.

On the upside, immediate resistance is near the $88,000 level. The first key resistance is near the $88,500 level. The next key resistance could be $88,800.

A close above the $88,800 resistance might send the price further higher. In the stated case, the price could rise and test the $89,500 resistance level. Any more gains might send the price toward the $90,000 level or even $90,500.

More Losses In BTC?

If Bitcoin fails to rise above the $88,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $87,400 level and the trend line. The first major support is near the $87,150 level or the 61.8% Fib retracement level of the upward move from the $86,306 swing low to the $88,500 high.

The next support is now near the $86,500 zone. Any more losses might send the price toward the $85,000 support in the near term. The main support sits at $84,500.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $87,400, followed by $87,150.

Major Resistance Levels – $88,000 and $88,800.

PI has continued its downtrend, slipping 5% in the last 24 hours despite the general market rally recorded over the past day.

The altcoin’s downturn signals weakening buying pressure as traders appear to shift their focus away from PI.

Pi Struggles as Market Participation Declines

Key technical indicators reinforce the bearish outlook for Pi. Its On-Balance-Volume (OBV), which tracks buying and selling pressure, has been steadily falling, indicating a decline in market participation and liquidity.

As of this writing, PI’s OBV sits at an all-time low of -845.93 million, falling by over 2000% since the beginning of March. 

When an asset’s OBV plunges like this, it indicates a decline in buying activity and increasing selloffs. This suggests that more PI traders are offloading the asset than accumulating it, increasing the downward pressure on its price.

Further, PI has remained in a descending parallel channel, a pattern that reflects its downward trend. According to readings from the PI/USD one-day chart, PI has traded within this bearish pattern since reaching an all-time high of $3 on February 26. 

A descending parallel channel is formed when an asset’s price moves between two downward-sloping parallel trendlines. This structure indicates a consistent pattern of lower highs and lower lows, suggesting a sustained bearish trend. Here, token sellers maintain control and prevent significant upward momentum. 

The pattern hints that PI’s price may continue to decline until it breaks above the channel or finds strong support.

Pi Risks Further Decline as Bears Attempt to Drag Price Below $0.62

PI’s strengthening selling pressure puts it at risk of breaking below the descending parallel channel. If this happens, the token’s downtrend gains momentum, pushing its price to $0.62.

However, if the bulls regain dominance and buying activity spikes, PI could reverse its current trend and rally toward $1.13.

XRP is up more than 8% over the past seven days, but it hasn’t been able to maintain the strong momentum sparked by the SEC dropping its lawsuit against Ripple.

After the initial surge, XRP has entered a phase of consolidation, with price action stuck between key support and resistance levels. Technical indicators now reflect a market on pause, with momentum fading and direction unclear.

XRP RSI Is Currently Neutral

XRP’s Relative Strength Index (RSI) is currently at 52.89, a notable drop from 63.90 just one day ago. This sharp decline signals a weakening in recent bullish momentum, as buyers appear to be losing control over the short term.

RSI has now slipped closer to neutral territory, suggesting that market participants are increasingly uncertain about the next move.

Importantly, XRP hasn’t reached RSI levels above 70—commonly associated with overbought and strongly bullish conditions—since March 19, over a week ago, indicating a lack of strong buying pressure during this period.

RSI, or Relative Strength Index, is a widely used momentum oscillator that measures the speed and change of price movements on a scale from 0 to 100.

An RSI reading above 70 typically signals that an asset is overbought and could be due for a pullback, while a reading below 30 suggests it may be oversold and primed for a bounce. Values between 50 and 70 generally reflect bullish momentum, whereas readings between 30 and 50 lean bearish.

With XRP now sitting at 52.89, it remains above the midpoint but is edging closer to neutral, suggesting the recent bullish phase may be cooling off unless renewed buying activity steps in.

Ichimoku Cloud Shows An Indecisive Market

XRP’s Ichimoku Cloud chart shows a market in consolidation, with price action hovering just above the cloud but lacking strong momentum.

The Tenkan-sen and Kijun-sen lines are relatively flat and close together, indicating a pause in trend strength and a balance between buyers and sellers.

The lack of a clear Tenkan/Kijun crossover also supports the idea that the market is in a neutral phase rather than trending decisively in either direction.

The cloud ahead is thin and slightly bullish. This suggests that while there is some support beneath the price, it’s not particularly strong.

A thin cloud typically signals potential vulnerability, as it may not hold up well against increased selling pressure. Meanwhile, the Chikou Span (lagging line) is interacting closely with past price action, another sign that momentum is weakening.

Overall, the Ichimoku setup reflects uncertainty, with XRP needing a decisive push in either direction to escape this range-bound structure.

Will XRP Breach $2.50 Resistance?

XRP experienced a strong surge following the news that the SEC had dropped its case against it. However, that initial momentum has since cooled.

The price is now caught between a resistance zone at $2.47 and support at $2.35. That highlights a phase of consolidation and indecision.

If the current support level is retested and fails to hold, XRP could see increased selling pressure. That would open the door for a move down to $2.22. If bearish momentum intensifies, a deeper drop toward $1.90 is possible.

On the flip side, if buyers can regain control and push XRP price above the $2.47 resistance.

The next targets in that scenario would be $2.59 and $2.749, both of which align with previous areas of rejection.

If the uptrend gathers strength, XRP could climb as high as $2.99.