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Bitcoin Slides After Resistance Rejection as ‘Death Cross’ Nears
BTC drops after bulls fail to reclaim key resistance, turning focus back to $100K support.
Bitcoin (BTC) faced renewed selling pressure during Asian trading hours after bulls failed to hold above the $107,250 level — a key former support zone that flipped into resistance following this month’s bearish breakdown.
The rejection at $107,250 reinforces the broader downtrend and validates the previous range breakdown that ended weeks of sideways trading. The inability to regain this threshold has turned market sentiment defensive, with traders watching closely for confirmation of a looming “death cross” pattern — where the 50-day simple moving average (SMA) crosses below the 200-day SMA.
Typically viewed as a bearish signal, the formation reflects weakening short-term momentum against the broader trend. However, past occurrences — in September 2023, August 2024, and April 2025 — all produced false alarms, suggesting caution in overinterpreting this setup.
For now, $100,000 remains the critical line of defense. A sustained move above $107,250 would be required to invalidate the bearish case and reestablish a path toward recovery. Until then, the market remains vulnerable to further consolidation or downside tests within its multi-month range.
Ether Breaks $3,590 Support as Recovery Falters
Bears reclaim control as heavy selling confirms new lower trading range between $3,565 and $3,589.
Ether (ETH) fell 1.5% on Tuesday as bears regained control, rejecting early attempts to rally and driving prices back below critical support. The token slid from $3,629 to $3,576 within a $136 range, with selling volume surging 138% above its 24-hour average, according to CoinDesk Research’s technical model.
The selloff gained momentum after ETH failed to clear the $3,646 resistance level in early trading. An exceptional 338,852 contracts changed hands during the breakdown, confirming institutional selling pressure and invalidating the recent support zone at $3,590 — a level that had repeatedly held through prior volatility.
ETH touched an intraday low of $3,532 before stabilizing near current levels. Price action now reflects a clear series of lower highs, signaling sustained downside momentum following the failed breakout attempt above $3,646.
While volume normalized later in the session, the formation of a new trading range between $3,565 and $3,589 suggests the market is adjusting to a structurally lower equilibrium — one defined by distribution rather than accumulation.
Technical Breakdown vs. Institutional Support
Momentum indicators across multiple timeframes flashed bearish signals as cascading stop orders accelerated the decline. Despite ongoing institutional interest — including Republic Technologies’ $100 million ETH allocation and BitMine’s 3.5 million token holdings — sell pressure outweighed accumulation.
The loss of $3,590 marks a pivotal shift in market structure for bulls. With distribution patterns dominating volume data, traders now anticipate further downside testing before any sustainable recovery emerges.
Key Technical Levels for ETH
- Support/Resistance: Primary support now sits between $3,510–$3,530, with the broken $3,590 zone acting as near-term resistance.
- Volume Analysis: Breakdown volume of 338,852 contracts exceeded the 24-hour average by 138%, confirming institutional participation.
- Chart Structure: A lower high at $3,646 followed by a support failure confirms a bearish continuation setup.
- Targets & Risk Zones: Immediate downside target near $3,510, with extended weakness toward $3,480–$3,500 likely if momentum persists.
Market Context — CoinDesk Index 5 (CD5)
The CoinDesk Index 5 (CD5) edged slightly higher from $1,840 to $1,843 over the same 24-hour period amid volatile trading conditions. The index briefly touched $1,869 before profit-taking set in, signaling ongoing distribution patterns across major crypto assets as markets remained range-bound.
