BTC Retreats Below Recent High Following Powell Speech; ETH Charts Doji at ATH

Bitcoin Slips Back to Pre-Rally Levels, Ether Flashes Warning Signs at Highs

Bitcoin retreats to pre-Powell levels, reinforcing bearish technical structure, while Ether shows early signs of exhaustion following a record-setting run.

Bitcoin Fails to Hold Post-Fed Gains

Bitcoin (BTC) has pulled back to levels last seen before Federal Reserve Chair Jerome Powell’s dovish remarks on Friday, which had briefly lifted hopes for a September rate cut.

Currently trading just above $112,000, BTC is down from its Friday high of $117,440, with the recent retracement forming a lower high just below a key resistance zone. This move confirms the breakdown of the prior bullish trendline that had originated from April lows.

Technically, momentum is fading:

• The Guppy Multiple Moving Average (GMMA) is on the verge of a bearish crossover, as short-term EMAs look set to fall below the long-term trend.
• On the weekly chart, the MACD histogram has dipped below zero to start the week—signaling the potential for continued downside pressure.

Despite Powell’s policy shift, Bitcoin’s inability to sustain the rally underscores the fragility of the current market setup.

Support Levels: $110,756 (Ichimoku cloud base), $100,887, and $100,000 (200-day SMA)
Resistance Levels: $117,440, $120,000, $122,056

Ether Shows Indecision After Hitting Record High

Ethereum (ETH) printed a doji candle on Sunday, signaling market indecision after tapping new all-time highs. The long upper wick reflects aggressive profit-taking, as bullish momentum faced strong resistance from sellers.

Although the doji alone doesn’t confirm a reversal, it often precedes a pause or correction, especially when accompanied by weakening momentum indicators.

• The 14-day RSI continues to post lower highs, even as ETH hits higher price peaks—creating a classic bearish divergence that may foreshadow a short-term pullback.

ETH is currently down 3%, trading near $4,624. Key support lies around $4,065, the breakout level from August 20, with deeper support at the 50-day moving average near $3,805.

Support Levels: $4,065, $4,000, $3,805
Resistance: $5,000 and beyond (record highs)

Market Takeaway

Bitcoin’s inability to hold gains after Powell’s dovish tilt and Ether’s indecision at the highs point to an uncertain short-term outlook. Technical signals suggest downside risk unless bulls can reclaim key levels soon.

In a market that shrugs off positive macro catalysts and fails to break higher, the message may be clear: caution is warranted.