Crypto Market Braces for Further Volatility Amid US-Iran Peace Deal Easing Geopolitical Tensions

The cryptocurrency market has entered a volatile phase, with billions of dollars flowing out week after week as bears tighten their grip. Bitcoin's near-term direction rests on its current demand level, and holding above it keeps an upswing in play.

However, the moving average convergence divergence (MACD) indicator has printed a bearish death cross, suggesting sellers control momentum and price could grind lower from here. A break below the channel would open the door to a slide toward $61,056 on the chart.

Solana sits in a stronger position to attempt an upswing over the next few trading sessions, having just dropped into a key support zone that opens the door to a major move to the upside. The bull and bear power reading shows sellers still hold the upper hand on sentiment, marked by three consecutive red histogram bars.

XRP isn't off the table as an asset that could close out a green week. The token has made the first move, printing a green daily candle that points upward. A decisive push past the resistance level would be a constructive signal, opening two near-term targets, first $1.17 and then $1.18 on the chart.