5 months ago
Ether, solana, and XRP maintain relatively stronger positions.
Aug 26, 2025, 7:51 a.m.
This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.
Bitcoin's (BTC) technical outlook has deteriorated over the past 24 hours, with prices dropping below a key moving average for the first time since April. This breakdown has left BTC at a disadvantage compared to major tokens such as Ether (ETH), XRP, and Solana SOL$188.73.
BTC loses 100-day SMA
BTC has dropped over 1% in the past 24 hours, hitting a low of $109,172 at one point.
In the process, the cryptocurrency has convincingly dipped below the 100-day simple moving average (SMA), a widely tracked momentum indicator and support/resistance line, for the first time since April 22.
Further, prices have crossed below the Ichimoku cloud, indicating a bearish shift in momentum.
The dual breakdown has bolstered the bearish technical outlook suggested by the recent violation of the upward-sloping trendline from the April lows and the consecutive negative prints on the longer-duration MACD histogram. Taken together, the recent pattern looks similar to the February breakdown that set the stage for a deeper sell-off to $75K.
BTC's daily chart. (TradingView/CoinDesk)
The next key level to watch out for is $105,390, which is the 38.2% Fibonacci retracement of the April-July rally, followed by the 200-day SMA at $100,928.
The bulls need to overcome the lower high of $117,416 created on Aug. 22 to negate the bearish technical setup.
- Resistance: $111,592, $117,416, $120,000
- Support: $105,390, $100,928, $100,000.
XRP, ETH and SOL hold ground
While bitcoin has suffered the dual breakdown, XRP continues to trade above its 100-day SMA. However, prices are "stuck in the Ichimoku cloud," whichmeans the token is trading within a zone of uncertainty and consolidation where neither bulls nor bears are willing to lead the price action. It suggests indecision and lack of a strong trend.
Meanwhile, ether and SOL continue to trade above their respective 100-day SMAs and Ichimoku clouds. Therefore, a potential risk-on could see both ETH and SOL outperform BTC and XRP.
ETH, SOL, XRP daily charts. (TradingView/CoinDesk)
Read more: Massive $14.6B Bitcoin and Ether Options Expiry Shows Bias for Bitcoin Protection
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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Massive $14.6B Bitcoin and Ether Options Expiry Shows Bias for Bitcoin Protection
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