August's Rise Cools Down, BTC, ETH, XRP Key Supports Under Pressure, Where Does the Market Look Next?
Summary: The crypto market experienced a wave of rapid rises in August, but mainstream assets like BTC, ETH, and XRP have recently entered a consolidation phase. BTC has returned to around $77,000, ETH fluctuates near $2,500, and XRP has fallen back to around $1.36. Although major assets remain above key long-term moving averages, momentum indicators such as RSI have noticeably cooled down, with the market entering a phase of "upward structure not yet broken, but short-term upward momentum lacking." Moving forward, the ability to maintain key support will be an important basis for judging whether the market continues to consolidate or further retraces. Follow the official account “Bitcoin Lemon” for daily market analysis, news, and practical insights.
August's Rising Market is Clearly Cooling Down
The crypto market saw a relatively obvious broad rise in August.
BTC rose from around $63,000 to above $80,000, ETH quickly rebounded from around $1,900 to above $2,500, and XRP even surged to around $1.70 in August.
However, entering September, the market's rhythm has clearly changed.
Multiple mainstream assets have begun to retreat from their highs, and prices are retesting key support zones established during previous upward movements.
This indicates that the current market is not simply a "complete turn to short."
Rather, it has entered a more critical phase.
After the rise, whether buyers can continue to hold the previous breakout levels remains to be seen. Follow the official account “Bitcoin Lemon” for daily market analysis, news, and practical insights.
BTC Must Hold $76,000 to $77,000
Currently, BTC's price has retreated to around $77,300.
In the previous $80,000 to $81,000 area, there was significant selling pressure many times, and now the market is testing the crucial support zone of $76,000 to $77,000.
From a technical structure perspective, BTC's upward trend in August has not yet been completely destroyed.
The price continues to be above several key long-term moving averages, and the RSI has declined from its previous overbought range to around 55.5, indicating that market sentiment has notably cooled, but it has not yet entered an extremely weak state.
Therefore, the most critical issue now is not how much BTC has dropped in a day.
Rather, it's about whether it can continue to hold the $76,000 to $77,000 area.
If it effectively loses this level, the next area to focus on will shift down to around $72,800 to $73,000.
Conversely, if BTC regains the $79,000 position, then the market may have a chance to challenge $80,000 or even higher again. Follow the official account “Bitcoin Lemon” for daily market analysis, news, and practical insights.
ETH Also Enters Key Support Test
ETH's performance in August has also been very strong.
The price rose from around $1,900 to above $2,500 and is still operating above major long-term moving averages.
However, problems have begun to surface.
ETH has tried multiple times to break through the $2,500 to $2,560 area but has not formed an effective breakout.
At the same time, the RSI has declined from its previous high to about 58, indicating that upward momentum is gradually weakening.
The most important support for ETH currently is in the $2,360 to $2,400 area.
As long as this level can hold, then the current trend can still be interpreted as a consolidation following an upward move.
But if the daily closes below $2,350, the market may see a more obvious technical adjustment.
Therefore, the key for ETH now is not to immediately break through $2,560.
Rather, it is to first prove that there is still enough buying power near $2,400. Follow the official account “Bitcoin Lemon” for daily market analysis, news, and practical insights.
XRP's Key Position is Even Clearer
Compared to BTC and ETH, XRP’s technical position is more sensitive at the moment.
XRP previously rose to around $1.70 in August but has not managed to break above $1.50 again since.
Recently, the price has fallen back to around $1.36.
Currently, $1.33 to $1.36 is a very crucial support area, close to both long-term moving averages and short-term dynamic support.
If XRP can hold this area and regain the $1.40 to $1.42 range, market sentiment may gradually improve.
On the upside, attention should be paid to $1.45 and $1.50.
However, if $1.33 is effectively broken, the next phase may further test $1.24 or even $1.21.
In other words,
XRP has now entered a stage where "support determines direction." Follow the official account “Bitcoin Lemon” for daily market analysis, news, and practical insights.
The Three Markets are Actually Showing the Same Structure
By looking at BTC, ETH, and XRP together, one can find a very obvious commonality among them.
They all underwent rapid rises in August.
They all faced pressure at high levels.
They all entered consolidation in September.
Additionally, momentum indicators have gradually cooled from their highs.
This indicates that the market is currently more like entering a digestion phase after a rise, rather than confirming a new downward trend.
However, the problem lies in the fact that
consolidation can ultimately lead to two outcomes.
One possibility is that prices hover around the support zones, waiting for capital to re-enter before breaking upward again.
The other is that support is gradually consumed, ultimately leading to a deeper pullback.
Therefore, when judging market direction, it is not enough to watch for price declines alone.
One must also observe whether the support zones have actually been broken. Follow the official account “Bitcoin Lemon” for daily market analysis, news, and practical insights.
Can August's Rise Continue?
The market still has conditions to extend the rise.
BTC remains above key long-term moving averages, ETH also stays above key moving average zones, and XRP still holds above the important support band of $1.33 to $1.36.
This means that the bullish structure formed in August has not been completely destroyed.
However, at the same time,
the market can no longer rely on strong momentum to continuously push prices higher as it did in August.
To continue rising, new capital or new market catalysts will be needed going forward.
Otherwise, prices are likely to continue to consolidate sideways, allowing the previously heated indicators to cool off further.
For investors, this phase may actually be one where it is necessary to lower emotions and reassess key positions. Follow the official account “Bitcoin Lemon” for daily market analysis, news, and practical insights.
What to Watch for BTC, ETH, and XRP?
The key positions of the three assets can currently be summarized as follows:
BTC:
Focus on $76,000 to $77,000 below.
If it drops below, further focus on $72,800 to $73,000.
Above, regain $79,000 and then watch $80,000 to $82,000.
ETH:
Focus on $2,360 to $2,400 below.
$2,350 is the more crucial defensive position.
Only after breaking through $2,500 to $2,560 is there a chance to open further space.
XRP:
$1.33 to $1.36 is the current core support.
If it regains $1.40 to $1.42, it can improve short-term structure.
After breaking $1.45, focus on the $1.50 to $1.55 area.
The significance of these positions is that they can help the market determine whether it is currently in a "normal consolidation after a rise" or if "the upward structure is beginning to be damaged." Follow the official account “Bitcoin Lemon” for daily market analysis, news, and practical insights.
Bitcoin Lemon's Perspective
The most common misconception in the current market is to see BTC retreat from above $80,000 and directly believe that the August rally has ended.
In fact, BTC, ETH, and XRP have not yet completely broken through their respective important mid-term structures.
What really needs to be watched is the crucial support zones.
BTC looks at $76,000 to $77,000.
ETH looks at $2,360 to $2,400.
XRP looks at $1.33 to $1.36.
If these areas can hold, then the market still has the potential to reaccumulate momentum.
However, if multiple mainstream assets break key supports at the same time, then the adjustment after the August rise may further expand.
Thus, it is more appropriate at this stage to wait for the market to confirm.
Don’t be blindly pessimistic when seeing a downturn.
Nor assume that the market will restart immediately upon seeing support.
What will truly determine the direction going forward is whether capital can return and if these key positions can hold.
We bring you daily insights into the crypto market, not just news about what happens, but also a deeper understanding of the logic and opportunities behind market movements. 👀🚀
Follow the official account “Bitcoin Lemon” for daily market analysis, news, and practical insights.
Summary
After the rise in August, the crypto market is entering a clear cooling phase.
BTC is retesting support at $76,000 to $77,000, ETH is seeking support near $2,360 to $2,400, and XRP is testing the important technical area of $1.33 to $1.36.
The mid-term bullish structures of the three assets have not been completely destroyed, but momentum has notably decreased.
Hence, what is most important moving forward is not predicting which coin will certainly rise or fall.
Rather, it is to observe whether key supports can continue to hold effectively.
If the support holds, the market may continue to consolidate, digesting the gains from August.
If multiple key supports fail at the same time, the market should be alert for a deeper round of adjustment.
For the current market, "waiting for confirmation" may be more important than rushing to judge direction. Follow the official account “Bitcoin Lemon” for daily market analysis, news, and practical insights.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
