September 2 Market Preview: BTC and XRP Struggling for Direction, How Much More Can AAVE Rise After a Strong Breakthrough?
On September 2, the cryptocurrency market continued to show significant divergence. Bitcoin fluctuated repeatedly within a key range, XRP attempted to rebound from a recent low, but technical indicators still leaned weak; in contrast, AAVE broke through the critical resistance of $130 after a strong rise and demonstrated noticeably stronger short-term performance than the former two.
From a technical structure perspective, the most crucial point for BTC currently is whether the $76,700 to $79,200 range can be broken; XRP needs to reclaim $1.41 to further improve its short-term trend; AAVE has completed a key resistance breakthrough, and the next focus will be whether the bulls can sustain the trend at $134.
BTC Stuck in Range Fluctuation, $79,200 Becomes Key Short-Term Resistance
Recently, Bitcoin has not formed a clear one-sided trend but has continuously attempted to rebound after receiving support near $76,700.
As of now, the BTC price is around $77,600, not far from the upper resistance at $79,200.
From a short-term structure perspective, $76,700 is currently an important support area. Previously, buying activity emerged when the price fell towards $76,000, indicating that there is still some market demand near this position.
However, the pressure at the upper $79,200 is also significant.
If BTC cannot effectively break through this level, the market may continue to maintain a sideways consolidation. Conversely, if the price can break above $79,200 in volume, the short-term structure may improve further, with the next target shifting toward $81,000.
Currently, technical indicators do not provide strong bullish signals.
The 5-hour RSI is at 46.31, within a neutral area, indicating neither bulls nor bears have formed an absolute advantage at the moment.
The MACD is at -228.4, the ultimate oscillation indicator is at 48.27, and the bull-bear strength indicator is also in negative territory, suggesting a cautious outlook overall.
Therefore, BTC currently seems to be awaiting a new directional choice.
If $76,700 can hold consistently, the market still has a chance to challenge $79,200; if the support fails, then around $75,800 may become the next observation area.
XRP's Rebound Momentum Limited, $1.41 is the Level Bulls Must Break
Compared to BTC, XRP's current technical structure is weaker.
XRP previously dropped to about $1.326 and then rebounded, currently attempting to re-establish short-term support.
The $1.336 area is currently a focal point for the market.
As long as this position holds, XRP still has a chance to test $1.3889 upwards. Further, $1.41 represents a more critical resistance in the current structure.
If XRP can effectively break through $1.41 with increased market volume, the next phase may further test $1.46.
However, the indicators show that the current rebound still lacks sufficient strong technical confirmation.
The 5-hour RSI is only at 40.44, the MACD is at -0.02, the ultimate oscillation indicator is at 48.43, and the bull-bear strength indicator is also in negative territory.
This indicates that the current rise is more like a rebound after a drop rather than a clear new upward trend.
Therefore, the biggest focus for XRP in the short term is not whether it can rebound, but whether it can truly break through key resistance after the rebound.
If it cannot break through $1.41, the price may continue to fluctuate within the current range; if it falls below $1.35 again, there is a need to be cautious of retesting the support near $1.336.
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AAVE Becomes the Strongest Asset Among the Three, $130 Breakthrough Changes Short-Term Structure
If BTC and XRP are still in a phase of waiting for direction, then AAVE has already taken the lead in establishing a clearer breakthrough structure.
AAVE has recently surged strongly, successfully breaking through the critical resistance of $130, with the current price reaching around $134.
This surge is also supported by fundamental factors.
Aave V4 has seen rapid growth in deposit size recently, with an increase of about 30% in a week, and total deposits have surpassed $800 million. At the same time, active loan sizes have also reached new highs, showing an improvement in the platform's fund utilization.
Among these, EtherFi Cash on Optimism has become one of the important markets for Aave V4, with deposit sizes reaching about $257 million.
This data indicates that AAVE's recent surge is not solely reliant on market sentiment; the improvement in ecological data has also provided a certain support for price breakthroughs.
From a technical indicator perspective, AAVE is currently clearly stronger than BTC and XRP.
The RSI is at 68.61, close to the common overbought observation area of 70; the MACD is at 0.42, the ultimate oscillation indicator reached 66.66, and the bull-bear strength indicator is at 9.23, with multiple indicators in a bullish state.
However, after a strong rise, one should also be cautious of short-term overheating.
The $130 level has now changed from a resistance level to an important support.
As long as AAVE can stabilize above $130 and further break through $134, the market may continue to focus on the area around $141.
Conversely, if the price falls below $130 again, it would mean that the effectiveness of this breakthrough is challenged, and the price may retreat to around $126, re-entering the previous consolidation range.
Three Assets Show Significant Divergence, Key Positions Determine Next Directions
From the current technical structure, BTC, XRP, and AAVE actually represent three completely different market states.
BTC is in a fluctuation phase.
$76,700 is the key support below, while $79,200 is the major resistance above. Breaking in either direction could bring about the next trend change.
XRP is in a weak rebound phase.
$1.336 needs to hold, while $1.41 is the key position for changing the short-term structure. Caution is still needed regarding the rebound before the breakthrough.
AAVE has entered the confirmation phase after the breakthrough.
$130 has become the new key support, while $134 is the next resistance. If it can continue to break through, $141 may become a new focus area for the market.
Therefore, the biggest highlight of the market on September 2 is not necessarily which asset will rise, but who can be the first to complete the breakthrough of key price levels.
BTC needs to break through $79,200, XRP needs to reclaim $1.41, while AAVE needs to prove that $130 has indeed changed from resistance to effective support.
In the current market environment, merely breaking through price levels is not enough; transaction volume and whether the subsequent prices can stabilize are equally important.
If BTC breaks upward, XRP simultaneously repairs, and AAVE maintains its strength, then market risk appetite may further improve; conversely, if key support levels are gradually lost, the current rebound structure could still revert to fluctuation or even retreat.
For today’s market, what truly deserves attention is not the short-lived ups and downs, but whether these key price levels can be genuinely confirmed by the market.
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