Bitcoin (BTC) bye to $100,000, Shiba Inu (SHIB) approaches last support, XRP stronger than all others By U.Today
U.Today – After returning below the psychological threshold of $100,000, investors are wondering if this is a short-term dip or a more significant change in the market. Bitcoin is currently trading at around $95,933, down 1.04% from the previous day. After a strong rally that nearly took Bitcoin to an all-time high, there has been a correction.
The uptrend line that was established during its rise in late 2024 has clearly broken out on the chart. Buyers appear to be losing steam, indicating a loss of momentum. As overleveraged positions are liquidated, a noticeable increase in selling pressure has also resulted in significant liquidations in the futures market. With the market currently fragile, these liquidations likely accelerated the decline.
Many analysts see this decline as a healthy correction, and Bitcoin is still in a long-term bullish structure despite the comeback. The $92,500 and $87,500 levels are important support levels to watch out for as they could serve as re-entry points for buyers. On the other hand, resistance at $100,000 is likely to be a major hurdle that strong market sentiment will have to overcome.
There are challenges facing the larger cryptocurrency market as well, and macroeconomic uncertainty is one of them. But given Bitcoin’s solid fundamentals — which includes increasing 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 this point will be whether Bitcoin can hold its current support levels and avoid a significant correction. Due to constant liquidations and increased volatility, traders should be cautious. When navigating such market conditions, patience and careful risk management are key, as always.
the last refuge
The 200 EMA, the last important level of support before a possible deeper market pullback, is fast approaching for the Shiba Ina. The token is currently trading around $0. 00002171 after plummeting 9.6% in the last day. For SHIB’s price action, this level represents a key turning point. A sharp decline towards $0.00002000, a psychological level that could attract buyers, could be the result of a 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 holds, SHIB could enter unprecedented bear territory and lose most of its recent gains. The $0.00002350 level is still the first resistance level that SHIB must overcome to have any chance of recovery.
A break above that would target $0.00002500, which is a key level for a reversal of the market’s uptrend. The larger causes of the recent sell-off appear to be the main drivers of increased profits by larger holders and a more general market correction. Despite the decline, SHIB’s speculative appeal and community-driven nature may rekindle buyer interest if they see the decline as an opportunity.
SHIB’s ability to hold the 200 EMA is key going forward. A short-term rally towards $0.00002350 could be triggered by a bounce from this level. However, if this support does not hold, a longer downtrend is likely in the works, with $0.00001750 serving as the next safety net. Traders should keep a close eye on the following sessions as the next exchange rate of the token is likely to be determined by its movement around these key levels. Due to the constant volatility of the market, it is advisable to proceed with caution.
gaining strength
In contrast to the general decline observed among leading digital assets, XRP is showing exceptional performance as one of the top performers in the crypto market. XRP has seen a 1.49% gain in the last day, trading at $2.32, while Bitcoin and other cryptocurrencies are facing significant declines. In light of difficult market conditions, its resilience is even more astonishing.
Over the past week, Bitcoin has lost 5.4% of its value, falling below the key $100,000 mark. Ethereum, currently trading at $3,365, is also experiencing a weekly decline of 8.42%. was also severely affected, losing 8.92% over the same period. In light of this, XRP’s relative strength is highlighted by its ability to hold and even climb.
With resistance at $2.50 and strong support at $2.10, XRP is consolidating technically within a triangle pattern. A break above $2.50 could push XRP closer to $3.00, a key technical and psychological level. If the $2.10 support is lost, there could be a pullback to $1.90, where the 100 EMA offers more support.
Large volumes of liquidations have exacerbated the overall weakness of the market, but XRP seems to have fared better than most during this upheaval. Its recent performance indicates growing investor confidence, which may have been fueled by its distinct market dynamics and hopes for its utility.
Going forward, XRP’s ability to maintain its momentum will rely 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 general conditions improve, there may be even more upside to come.
