Bitcoin, Ethereum, XRP, Dogecoin Hold Steady On Soft Upside Momentum

Cryptocurrency markets are slightly up on Wednesday morning despite lackluster performance over the previous days.

Notable Statistics:

• Coinglass data shows 128,606 traders were liquidated in the past 24 hours for $284.15 million.
• SoSoValue data shows net outflows of $103.6 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net outflows of $140.8 million.

Trader Notes: More Crypto Online highlighted that BTC is holding near the 61.8% retracement level around $111,220. A push above $114,010 could mark the start of a recovery, but another low would weaken the bullish case and complete the 5-wave downtrend structure.

Ted Pillows noted Bitcoin retested the $111,000 support with only a small bounce, warning that fading institutional demand could still drag price toward $108,000.

For Ethereum, Pillows said it has retested $4,060 support twice in three days, showing weakness.

Trending Crypto Products

Earn Up to 3% Back in Bitcoin and Crypto on Every Purchase You Make

Get Started

Invest Your IRA or 401(k) in Real Estate, Crypto, and More with IRA Financial

Get Started

The next key level sits at $3,800, which could provide an attractive accumulation zone.

Daan Crypto Trades observed SOL moving within a rising wedge, testing long-held diagonal support from June. While heavy treasury accumulation has kept the trend bullish, SOL now faces a critical level after stalling just below its 2021 all-time high.

Dark Defender explained that XRP is finishing its ABCDE corrective phase. A breakout above $3.333 could ignite a rally, with bulls eyeing double-digit prices.

Mags argued that $1 is less a bearish target and more a moonshot scenario, requiring a 4x move. Analysts see it only as possible under extreme bull-cycle conditions.

Read Next:

• Bitcoin Struggles Around $112,000, But Here’s Why The Bull Run Is Not Over Yet

Image: Shutterstock