Kraken News: Bitcoin Consolidates Below $92K, Faces Crucial Resistance

Bitcoin Price In Limbo—Consolidating Below $92K Ahead of Next Move

Bitcoin price started a recovery wave from the $85,000 zone and is now back above $87,500. However, it might struggle to clear the $92,000 resistance zone. A short-term contracting triangle is forming with resistance at $89,650 on the hourly chart. If Bitcoin fails to clear the $92,000 resistance zone, it could start another decline. Recently, the price tested the $85,000 support zone with a low at $84,665 and then started a recovery wave above $86,000.

XRP Price Slips, But Buyers Hold Ground—Is a Rebound Coming?

XRP price started a fresh recovery wave from the $2.20 zone and climbed above the $2.40 resistance level, but struggled to clear the $2.50 zone. The price corrected some gains and dipped below $2.550, breaking below a connecting bullish trend line with support at $2.550 on the hourly chart. The pair might continue to move up if it clears the $2.5350 resistance zone.