Disclaimer: The opinions expressed by our editors are their own and do not represent those of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Do your own research by contacting financial experts before making any investment decisions. We believe all content to be accurate as of the date of publication, but some offers mentioned may no longer be available.
After falling back below the psychological threshold of $100,000, Bitcoin has investors wondering whether this is a short-term decline or a more substantial change in the market. Currently, Bitcoin is trading at around $95,933, down 1.04% from the previous day. After a strong rally that almost took Bitcoin to its all-time high, there was a correction.
The uptrend line that was established during its late 2024 rally has clearly broken out on the chart. Buyers appear to be running out of steam, indicating a loss of momentum. As overleveraged positions are unwound, a notable increase in selling pressure has also led to significant liquidations in the futures market. With the market currently fragile, these liquidations likely accelerated the decline.
Many analysts view this decline as a healthy correction, and Bitcoin is still in a long-term bullish structure despite the retracement. The $92,500 and $87,500 levels are important support levels to watch as they could serve as re-entry points for buyers. On the other hand, resistance at $100,000 will likely pose a major hurdle that will need to be overcome by strong market sentiment.
The broader cryptocurrency market also faces challenges, and macroeconomic uncertainty is one of them. But given BitcoinThe strong foundations of – which include growing institutional interest and adoption – if the market as a whole stabilizes in the coming months, the $100,000 mark could be tested again.
The main concern at the moment will be whether Bitcoin can hold its current support levels and avoid larger corrections. Due to continued liquidations and increased volatility, traders should exercise caution. In the face of such market conditions, patience and prudent risk management are crucial, as always.
The Shiba Inu’s Last Resort
The 200 EMA, the last important support level before a possible deeper market retracement, is rapidly approaching for Shiba Inu. The token is currently trading at around $0. 00002171 after experiencing a precipitous 9.6% decline over the past day. For SHIBIn price action, this level represents a crucial turning point. A rapid decline towards $0.00002000, a psychological level likely to attract buyers, could result from the loss of the 200 EMA, which has historically served as strong support.
After that, $0.00001750 becomes the next important support area. If neither level is sustained, SHIB could enter unprecedented bearish territory and lose most of its recent gains. The $0.00002350 level remains the first resistance level that SHIB must overcome to have a chance of recovery.
Related
A break above this level would target $0.00002500, a crucial level to reverse the market’s uptrend. Profit-taking by large holders and a broader market correction appear to be the main causes of the recent sell-off. Despite its slowdown, SHIB’s speculative appeal and community-based nature could once again spark buyers’ interest if they see the decline as an opportunity.
SHIB’s ability to hold the 200 EMA is critical going forward. A near-term recovery towards $0.00002350 could be triggered by a rebound from this level. However, if this support is not held, a longer downtrend is likely to be expected, with $0.00001750 serving as the next safety net. Traders should keep a close eye on the coming sessions, as the token’s next price will likely be determined by how it moves around these crucial levels. Due to current market volatility, it is advisable to proceed with caution.
XRP gains ground
In contrast to the general decline seen among major digital assets, XRP is showing exceptional performance as one of the top performers in the crypto market. XRP recorded a gain of 1.49% over the past day, trading at $2.32, while Bitcoin, Ethereum and other cryptocurrencies are facing significant declines. Given the difficult market conditions, its resilience is even more astonishing.
Over the past week, Bitcoin has lost 5.4% of its value, falling below the crucial $100,000 mark. Ethereum, which is currently trading at $3,365, is also seeing a weekly decline of 8.42%. Solana was also hit hard, losing 8.92% during the same period. In light of this, XRP‘s relative strength is evidenced by his ability to hold and even climb.
Related
With resistance at $2.50 and strong support at $2.10, XRP is consolidating in a triangle pattern on the technical side. A break above $2.50 could bring XRP closer to $3.00, a crucial technical and psychological level. If the $2.10 support is lost, there could be a retracement up to $1.90, where the 100 EMA offers more support.
Large liquidation volumes compounded overall market weakness, but XRP appears to have held up better than most during this upheaval. Its recent performance reflects growing investor confidence, which may be driven by its particular market dynamics and hope for its usefulness.
Going forward, XRP’s ability to maintain momentum will depend on its ability to overcome the $2.50 resistance while monitoring market developments. In a generally bearish market, its current strength sets it apart and suggests that if overall conditions improve, there could be even more upside potential ahead.