Bitcoin Climbs Back Above $81,000 as Ether and XRP Face Support Tests

Bitcoin (BTC) climbed back above $81,000 after briefly falling to about $79,750, leaving that support level in focus as Ether (ETH) and XRP face separate chart tests.

Analysts Ali Martinez and Gareth Soloway both use $81,000 to assess Bitcoin’s recovery. Martinez places it at the lower edge of a rising channel on the daily chart. Soloway marks it as the bottom of a range extending to $87,200.

If Bitcoin holds $81,000, Martinez’s chart identifies $84,000 and then $86,500 as higher levels within the channel. A break below support would shift his focus to $76,000. Soloway treats a daily close below $81,000 as a sign of weakness. Bitcoin had previously approached the same support area after facing resistance near $86,500.

For Ether, Martinez identifies $2,350 as support. A daily close below $2,350 would bring $2,000 into focus. Soloway is watching for a break above resistance before treating Ether’s recovery case as stronger; his chart also allows for a move below $2,000 if support fails.

Martinez’s three-day XRP chart shows a possible inverse head-and-shoulders pattern, a formation traders watch for signs of a reversal. The pattern would require a sustained close above $1.56 for confirmation. A move below $1.25 would instead put $1 in focus.

An Oct. 14 snapshot of analyst sentiment found 15 of 19 analysts bullish on XRP. That measure tracks published calls rather than setting a price target. For the current chart pattern, the next test is whether XRP can sustain a close above $1.56.