🚀 Pullback Confirmed: HODL or Buy the Dip? Re-Evaluating Key Crypto Support Zones

George Brust November 26 3 min read

⚠️ Crucial Disclaimer DISCLAIMER: The information presented in this analysis is for informational and educational purposes only. It is based on technical analysis patterns and is not financial advice, investment advice, or a solicitation to buy or sell any crypto assets. Investing in cryptocurrencies is highly volatile and inherently risky. All financial decisions should be made in consultation with a qualified financial advisor. Olympus Services is not a licensed financial advisor.

1. Introduction: The Pullback Arrived

Just a few weeks ago, we argued that the most strategic entries into the crypto market are found not by chasing "FOMO" pumps, but by patiently waiting for healthy pullbacks into institutional support zones.

Since our November 12th post, the market has delivered exactly that. Following a period of aggressive buying, the price action across major assets—led by Bitcoin—corrected sharply. This drawdown, which has pushed the Crypto Fear & Greed Index into a zone of "Extreme Fear," is the exact moment a disciplined trader prepares to execute their strategy.

The recent price action confirms our core belief: pullbacks are not failures, they are opportunities. Now is the time to re-examine our key support levels to determine where the smart money is beginning to accumulate.

2. Bitcoin (BTC): The Battle for the Base

The recent correction was a textbook deleveraging event, flushing out short-term speculative positions. This cleansing action now provides a clearer picture of the true institutional demand.

• Previous Key Zone (21-Week EMA): Our first key zone of $52,000 - $54,000 (coinciding with the 21-Week EMA) was an initial strong magnet for price, confirming its significance.

• The Current Battleground: Price has since tested, and so far held, the critical structural support from the previous consolidation, which aligns with the previous All-Time High Resistance from 2021. This zone near $48,000 - $50,000 is now the most pivotal level to watch.

• Updated Actionable Insight: Sustained trading above $48,000 is crucial to confirm a durable bottom. The presence of large-volume buying in this range is the strongest bullish confirmation we can get right now.

3. Ethereum (ETH): Holding Structural Support

Ethereum's price action has tracked Bitcoin's closely, testing its key technical levels as expected.

• Previous Key Zone 1 Test: Our primary horizontal support and the 0.382 Fibonacci Retracement level between $3,000 and $3,150 saw a heavy test. The quick bounce from this area indicates strong initial buying interest.

• Deep Value Confirmation: The price action successfully avoided a major drop into the next structural support at $2,850, suggesting the demand at the higher $3,000 level remains robust.

• Updated Actionable Insight: The ETH/BTC ratio remains a key indicator. Look for this ratio to show strength—meaning ETH outperforming BTC on the bounce—to confirm that capital is rotating back into the smart contract sector.

4. Altcoins: Solana (SOL) and XRP

Altcoins, due to their higher volatility, experienced a much deeper shakeout, yet the disciplined strategy remains the same: use BTC's stability as your confirmation.

Solana (SOL)

The recent volatility in SOL required the careful risk management we previously advised. The price has retested and consolidated around the lower range of the 20-day moving average, confirming this area as a relevant accumulation zone for short-term buyers. We still advise waiting for a confirmed BTC bounce before initiating new, aggressive long positions in SOL.

XRP (Ripple)

XRP’s correction has brought it squarely back into the 0.618 Fibonacci Retracement level, making it a high-probability technical entry. Given its sensitivity to regulatory news, this current technical level serves as the ideal spot for value buyers, provided they maintain a clear stop-loss. Continue to monitor legal developments as any positive news could trigger a rapid move away from this strong technical support.

5. Conclusion: Discipline Rewards Patience

The market has confirmed that patience and a defined strategy are the keys to avoiding the emotional pitfalls of trading. While the general sentiment (The Fear & Greed Index) is in "Extreme Fear," the major assets have shown institutional support at key technical levels.

This is a time for calculated accumulation, not panic selling. Only enter positions with a clear invalidation level (stop-loss) and a defined profit target.

Call to Action: These charts are moving quickly. Did you execute your strategy during the pullback? Join the debate on whether the crypto market has established a new base of support in the comments below! Don't miss the next update—subscribe to the Olympus Services newsletter today.