Bitcoin (BTC), Dogecoin (DOGE), and Ethereum (ETH) show different price trajectories. As Bitcoin continues to hold above the $100,000 level, concerns about a potential hidden downtrend emerge. Meanwhile, Dogecoin has made significant progress in breaking key resistance, and Ethereum is struggling with a lack of momentum as it faces continued price decline.
Bitcoin: is a hidden bearish trend looming?
Despite recent strength, Bitcoin price action could indicate a hidden downward trend. Although the cryptocurrency has reached a higher high than in late 2024, it has not decisively crossed the key trendline, which could signal a continuation of a downtrend. Bitcoin’s failure to surpass its previous high of around $110,000 has left its price action in a mixed zone. This lack of decisive movement creates uncertainty, particularly as the volume profile does not match previous peaks, suggesting insufficient buying pressure.
However, Bitcoin continues to find support above the 50 EMA, which provides some stability. If the price remains above this level, a break above the $110,000 threshold could signal a return to bullish momentum. On the other hand, failure to cross the trendline and a drop below $100,000 could confirm a deeper correction in the coming days.
Dogecoin: bullish breakout above key resistance
Dogecoin recently made progress by breaking through an important resistance level around $0.40. This marks a positive change in market sentiment around the asset, especially as it attempts to break above the 50 EMA, a crucial technical barrier. Dogecoin has failed to sustain above this level before, but the current move is showing promise.
If Dogecoin manages to maintain its position above $0.40, it could potentially target the $0.45 to $0.50 range in the near future. Positive volume data supports this bullish move, as increased buying pressure fuels the rally. However, the market remains cautious as a retracement towards support levels around $0.35 could occur if Dogecoin fails to maintain its position above the resistance. A successful break above resistance would signal that the bulls are regaining control, which could lead to a potentially larger rally.
Ethereum: stagnation and struggles to break resistance
Ethereum is currently experiencing significant challenges as it fails to generate strong bullish momentum. The cryptocurrency has remained trapped in a consolidation phase for weeks, with its price struggling to breach key resistance levels around $3,557 and $3,800. Ethereum’s recent recovery from the 200 EMA at $3,120 offered brief support, but the overall trend remains subdued.
Despite testing these levels multiple times, Ethereum was unable to close above them, indicating a lack of bullish momentum. Current volume data reflects a lack of buying interest, further reinforcing the bearish sentiment around the asset. If Ethereum fails to break above the 50 EMA and secure a position above $3,800, the likelihood of a deeper retracement increases, potentially pushing the price closer to the $2,900 support zone.
On the other hand, if Ethereum manages to break through the $3,800 resistance, it could reignite the bullish sentiment, pushing the price towards the psychological $4,000 mark and beyond.
Conclusion
Bitcoin, Dogecoin and Ethereum currently exhibit contrasting market dynamics. Bitcoin’s potential downtrend and lack of decisive movement raises questions about its near-term future. Dogecoin’s recent breakout above resistance signals a potential move higher, but sustainability remains in question. Meanwhile, Ethereum continues to struggle with resistance and a lack of significant bullish momentum, leaving its future uncertain.
Crypto traders and investors should closely monitor these assets, as developments in the coming days could define price action for the weeks to come.
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