Crypto Frontline

BTCUSD (Coinbase)

Bitcoin did manage to break above $94.6k last week, but despite this improvement in momentum, it failed to continue higher. At the time of writing, we’re seeing selling encountering support around the daily 20 EMA, but the broader risk sentiment is not helping.

Financial markets are under pressure to start the new week due to geopolitics and if that continues, we might see further pressure on Bitcoin as well. The ascending trend line remains a key support and if it fails, $86k will be the next important area to watch. 

We believe bearish sentiment will spike if the price drops below $84k. Although we see support at $82k as well, a break below $84k will put the November 2025 lows at risk of a breakout. What we’ve seen during the last couple of weeks is not a resumption of the bullish trend, but a corrective move higher after a bearish leg down. 

Only if we start to see Bitcoin rotating higher, above the 20 EMA, and the RSI edging up towards overbought conditions, should we expect an extension towards $98.5k or $100k. 

ETHUSD (Kraken)

Ether broke above the consolidation triangle last week and yet failed to extend higher. This is a classic fakeout setup and could mean further selling this week if the price is unable to break back above $3,300. 

So far, the 20 EMA acts as mild support, but we can’t see heavy buyers stepping in. As a result, bulls should wait and see whether the sentiment improves. We advise caution, given that ETH was unable to rally even after a bullish setup. 

The break was actually an opportunity for sellers to short this market. As things stand right now, we are cautiously bearish on ETH and we think we might get to $3k first before a rally higher. Things will get even more bearish if the price breaks below the triangle. That could put $2.6k at risk once again. 

LINKUSD (Kraken)

Similar to Ether, Chainlink is under pressure as well, but in this case, the picture looks even more bearish. We say that because the price action continues to be located below a bearish trend line going back to August last year. 

Based on current market conditions, we expect further weakness into the $11 – $10 key support area. It will be interesting to see if the October 10th low will act as meaningful support, of the market will just pierce through it. 

In any case, we see no reason to be bullish at this stage. We would have to see a breakout above the trend line to have a confirmation that sentiment is improving. At the same time, the buyers have to keep the momentum going, which is difficult, as we’ve already seen in the case of ETH. 

A break above the trend line and December highs will be an encouraging sign and if that happens, we would expect a rally into the 200 SMA. That’s the least-likely scenario right now.