The cryptocurrency market rebounded strongly after enduring one of its toughest weeks in four years, triggered by U.S. tariffs on Chinese exports that initially sent Bitcoin tumbling to $100,600. However, Bitcoin quickly recovered above $111,000, closing the week at $112,011, showcasing resilience despite over $16 billion in liquidations across derivatives markets.
Veteran trader Peter Brandt reaffirmed his bullish stance, asserting that the broader cycle remains intact. He provided detailed technical analysis for key cryptocurrencies, emphasizing that their underlying structures are unbroken. For Bitcoin (BTC), Brandt stated the bull is still alive and well, with critical support between $109,000 and $110,000. The next resistance levels are the simple moving average at $113,897 and the zone between $123,000 and $126,000.
XRP traded at $2.46, with Brandt describing its recent pullback as a minor reaction and validating the breakout from last year's wedge pattern. Support is firm at $1.79, with potential targets between $3.00 and $3.50. This outlook has reignited optimism, especially after the token's 50% decline earlier in the week.
Ethereum (ETH) is ready to rock and roll, according to Brandt, with solid support around $3,072 and resistance between $4,700 and $4,800. A decisive break above this range could mark the end of a consolidation phase that has persisted since 2021, potentially triggering a stronger rally.
Stellar (XLM) trades near $0.33, and Brandt likened it to a bull waking from a nap. Key levels include support at $0.25 and resistance at $0.60, with a breach possibly opening the door to broader market gains.
Despite the tariff-induced shock, Brandt's analysis indicates that the bullish trajectories for these cryptocurrencies remain valid, fostering confidence for sustained upward movement in the coming weeks.
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