Bitcoin (BTC) Faced a Strong Rejection at the $105,900 Level

The cryptocurrency market is experiencing notable resistance and potential retracements across major assets

Bitcoin (BTC) faced a strong rejection at the $105,900 level, a price point that has proven to be a significant resistance zone.

After testing this upper boundary, BTC saw a sharp pullback, now hovering at around $103,800. According to Ali, key support zones lie at $103,400 and $101,300, levels that bulls must defend to prevent a deeper correction.

XRP is displaying a classic Head and Shoulders pattern — a technical formation that often signals a trend reversal. This pattern has emerged as XRP struggles to break through the $2.50-$2.60 overhead resistance.

With the asset currently testing critical support at $2.30, the risk of a drop to $2.00 looms if this level fails to hold. Traders are closely watching this zone as a breakdown could trigger further bearish momentum.

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Chainlink (LINK)

ChainLink has also encountered resistance after a recent rally, with the price now pulling back following a rejection at the $9.00-$9.20 zone.

According to Ali, LINK may be heading back to $10 if bearish sentiment persists. The current rejection appears to be forming a lower high, potentially setting the stage for a continuation downward unless buying pressure re-emerges.