Crypto Market Faces Key Rejections and Support Tests: Bitcoin, XRP, and Chainlink in Focus

The cryptocurrency market is experiencing notable resistance and potential retracements across major assets, as highlighted by analyst Ali Martinez in a series of recent technical updates.

Bitcoin (BTC): Rejected at $105,900

Bitcoin has faced a strong rejection once again at the $105,900 level, a price point that has proven to be a significant resistance zone. After testing this upper boundary, BTC saw a sharp pullback, now hovering near $103,800.

According to Ali, key support zones lie at $103,400 and $101,300, levels that bulls must defend to prevent a deeper correction.

XRP: At Risk of Dropping to $2

XRP is displaying a classic Head and Shoulders pattern — a technical formation that often signals a trend reversal.

With the asset currently testing critical support at $2.30, the risk of a drop to $2.00 looms if this level fails to hold. Traders are closely watching this zone as a breakdown could trigger further bearish momentum.

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Chainlink (LINK): Eyes on $10

Chainlink has also encountered resistance after a recent rally, with Ali noting that $LINK may be heading back to $10 if bearish sentiment persists. The current rejection appears to be forming a lower high, potentially setting the stage for a continuation downward unless buying pressure re-emerges.

Market Outlook

The broader crypto market is in a phase of testing critical levels. Whether these supports hold or give way could determine the short-term direction of major assets. Traders are advised to stay alert and monitor these zones closely, as volatility remains high.

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