๐ The S&P 500 has formed a death cross โ its first since 2022 โ as the 50-day MA crosses below the 200-day MA. Historically, this pattern signals downside risk. A 17% drop followed the last death cross, and given crypto's correlation with equities, BTC, ETH, and XRP may face pressure.
๐ XRP has jumped from $1.62 to $2.20, breaking above the 200-day MA and neckline of a head & shoulders pattern. But risks remain: it still trades below the 50-day MA and inside a descending channel. Unless XRP rises above $3 to invalidate the bearish setup, a pullback to $1.955 or $1.62 remains possible.
๐ช BTC is consolidating with no strong catalyst after tariff relief. Itโs on the verge of a death cross โ a bearish sign. If confirmed, BTC may drop to $74.5K. A move above both EMAs would negate this outlook and open a path to $90K.
๐ ETH continues to struggle after falling from $4,090 to $1,630. It formed a death cross in February and is now developing a bearish pennant. If the pattern plays out, ETH may dip to $1,400 in the near term.
โ ๏ธ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
