Crypto Market Sees Short-Term Pullbacks as Bitcoin and Ethereum Consolidate

Bitcoin's recent rally has pushed it into overbought territory on its daily Relative Strength Index (RSI). As a result, BTC is currently facing a potential short-term pullback. The price is moving sideways around $76,400-$76,800, with traders watching this area for possible liquidity sweeps.

The weekly Super Trend indicator remains red, indicating that the broader bullish signal has not been confirmed. A close above $80,000 on the weekly candle would flip the indicator back to green. However, resistance between $80,000 and $82,000 is limiting Bitcoin's upside momentum.

Ethereum (ETH) is also showing signs of weakness after its recent break above $2,400. The breakout remains technically active as long as Ethereum avoids a confirmed three-day close below this level. Support around $1.30-$1.40 is crucial for XRP, which has pulled back toward this area.

The current consolidation in Bitcoin's price could create room for another move higher if the broader bullish structure remains intact. However, a major trend reversal would require a confirmed break below key support levels.