The market is currently in a state where large assets have broken below key support levels, potentially leading to further declines. Unfortunately, there are no signs of recovery in the short term, and investors must accept this reality to move forward.

Ethereum Losing Substance
Ethereum is trending downward and is no longer in a clear trend. The daily chart clearly shows the market structure: Ethereum failed to hold the high after the rebound, breaking below important moving averages, and is now undergoing orderly, non-panic selling. This is not a sign of capitulation but rather a distribution phase leading to downward settlement.

TradingView ETH/USDT Chart
Ethereum's current performance resembles an asset that has lost control but still retains momentum. Every rebound attempt is quickly sold off, and the price has broken below short-term and medium-term moving averages. This indicates a lack of buyer confidence to defend higher prices, while sellers rely solely on market weakness and are not eager to take action.

Volume also confirms this, with light volume on up days and increased volume on down days. This is not chaos but traditional bearish pressure. Structurally, there was almost no resistance before $2500. The previous support level has now turned into resistance above, and the previous consolidation zone has been broken or invalidated.

Essentially, Ethereum is currently in a vacuum zone between active demand and potential demand areas. From a technical perspective, $2500 is the next reasonable zone where buyers might appear. This is not because of any magical significance of this price level but because it aligns with long-term moving averages, psychological pricing, and previous accumulation trends.

Most importantly, almost nothing can prevent Ethereum from eventually reaching that stage. The absence of bullish divergence should be noted, as there is no strong horizontal support above, and trend moving averages are not rebounding. The RSI(RSI)'s mid-level position also supports the view that Ethereum is not yet oversold and that there is still room for downside without triggering reflexive buying.

XRP Market Weakness
XRP has not disappeared, but its support strength is weak. The market has overlooked this key distinction. Although XRP's price has been declining and remains below major moving averages, it has not truly lost macro bottom support. Currently, this is more important than most short-term indicators.

XRP's current performance is not a free fall but more like an asset under continuous selling pressure. Every rebound in recent weeks has been sold off, and the downward channel remains intact, with market momentum clearly bearish.

However, despite this, the price remains above a previous significant demand zone, which previously experienced large sell-offs and multiple reversals. Although tested multiple times, this level has not been definitively broken. This is not strength but adaptability, and these are two very different things.

The RSI(RSI) approaches the lower limit, supporting the view that downward momentum is slowing rather than accelerating. XRP is not severely oversold. The current spread is enough to suppress more aggressive selling unless the overall market deteriorates. Although sellers remain active, their control is weaker than before the crash.

The price is likely to rebound from the current zone. This is merely a correction, not a sharp reversal or trend change. Do not expect a recovery; focus on relief. From a technical standpoint, even without positive catalysts, it is reasonable for the price to fall back to short-term moving averages or local resistance levels. This is just the market's response to levels that have not yet been broken.

Setting expectations is crucial. Even if XRP does rise, its price is unlikely to surge significantly. Volume is likely to remain moderate, and the price will continue to face substantial resistance. But before discussing price trends, survival is the most important.

Bitcoin's Structure Is Stabilizing
One pattern stands out more than others. The current daily chart of Bitcoin shows a head and shoulders top pattern. This is the most direct explanation of the price movement pattern we've observed over the past few months; neither contrived nor sensationalized.

The trend support level drops sharply, followed by a strong rebound, forming a breakout high(head), then two lower highs that failed to regain momentum(shoulders). This is textbook movement.

Bitcoin is not crashing but transitioning from a trending market to a correction. After breaking below key moving averages, it failed to re-establish above them, perfectly confirming the head and shoulders top pattern theory. The key point is that this pattern has already endured most of the impact.

After the right shoulder formed, a wave of strong selling appeared, which looks more like the end rather than the beginning of the head and shoulders pattern. Most people tend to make mistakes here. A completed head and shoulders pattern does not always signal bearishness. In fact, once the pattern is complete and weak positions are sold off, it often creates conditions for stabilization and rebound.

The market does not continuously trend but resets. This pattern acts as a reset. A consolidation phase around current levels may follow, with market volatility narrowing as sellers rush to exit.

When the RSI approaches the lower limit, it indicates that downward momentum is weakening rather than accelerating. Panic sentiment has disappeared, leaving only the liquidation of large positions. This is exactly what is expected after the structural pattern dissipates.