- Bitcoin continues to hold its bullish pattern at around the above two hundred thousand dollars mark of about 121,600 and there is an indication of consolidation.
- The price of Ethereum has been moving at a slower pace, although it has not fallen, indicating that it is consolidating and can recover in case volume picks up.
- Solana is still consolidating over the $225 mark with increasing liquidity and solid technical stability in anticipation of a potential ensuing action.
The crypto market is heading into the weekend with steady momentum as Bitcoin is close to the mark of $121,600, and it could soon rise above the mark of $122,000. Ethereum and Solana also have strong structures that consolidate in tight ranges even with less-strong intraday movements. As the signs of balanced momentum and increasing liquidity have their mark, the most popular digital assets seem to be developing sufficient momentum to make their next decisive move in October 2021.
Bitcoin is on an Uptrend as the price approaches to $122,000.
Bitcoin is trading around the level of $121,643 on the weekend session; it is showing the same upward bias with a slight fluctuation throughout the day. The dominant cryptocurrency has been maintained on a constant upwards trend throughout the week, then a short phase of stabilization on the current level. Although price movement was briefly halted, the overall trend is bullish, as the overall momentum is maintained within the hourly charts.
Source: TradingView
The Bullish strength has been softened by the Awesome Oscillator (AO) whose recent histogram bars have turned red. The development is an indication of a reversal of momentum following straight increases over the previous weeks. The uptrend is however intact as long as the indicator does not cross the level of zero.
Ethereum Holds Support Despite Weak Intraday Momentum
Ethereum traded around $4,455 after showing a gradual decline throughout the day. The session started positively, but mid-day selling pressure capped further advances. The price action now reflects a narrow range movement, highlighting indecision between continuation and correction phases.
Source: TradingView
The Awesome Oscillator signaled fading momentum, shifting from green to red during the afternoon session. This indicates that bullish strength has weakened, although the histogram has begun to flatten near the zero line. Such a pattern suggests that price stabilization may be approaching if buyers regain short-term control.
In parallel, the Aroon indicator shows Aroon Up at 92% and Aroon Down at 21%, indicating persistent but subdued bullish momentum. A sustained close above $4,440 could restore upward movement, while a drop below $4,400 would likely attract further selling. The technical readings confirm consolidation rather than a full reversal at this stage.
Solana Consolidates as Volume Expands
Solana topped at almost 226.05 following an initial upward movement in the morning. The asset has been experiencing slight selling pressure throughout the afternoon but it still has higher levels of support. This steadiness is an indication that the market is still constructive and that Solana is consolidating and not retracing.
Source: TradingView
The Awesome Oscillator shows neutral momentum using alternating green and red bars. Both buying and selling signals are equally distributed which indicates that Solana is about to make its next directional move. A thrust above 227 would verify that the overall uptrend would continue, and the short-term corrections may be prolonged with a decline beneath 224.
By and large, Bitcoin, Ethereum, and Solana have been maintaining reliable technical formations despite light trading on weekends. The Awesome oscillator and Aroon indicators on all the three assets indicate mixed momentum that was stable. With the growth of trading volumes, these cryptocurrencies are kept in readiness to move once again, which forms the mood of the next week.
