PakGazette – After retreating below the psychological threshold of $100,000, investors are wondering if this is a short-term drop or a more substantial change in the market. Right now, 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, a correction has occurred.
The ascending trend line that was established during its late 2024 rally has clearly been broken on the chart. The buyers appear to be losing strength, indicating a loss of momentum. As over-leveraged positions are liquidated, a notable increase in selling pressure has also led to significant liquidations in the futures market. Given that the market is currently fragile, these liquidations have likely accelerated the decline.
Many analysts see this drop as a healthy correction and Bitcoin is still in a long-term bullish structure despite the pullback. The $92,500 and $87,500 levels are important support levels to pay attention to because they could serve as re-entry points for buyers. On the other hand, the $100,000 resistance will likely be a major hurdle that will need to be overcome by strong market sentiment.
There are also challenges facing the broader cryptocurrency market, and macroeconomic uncertainty is one of them. But given Bitcoin’s strong foundation, including 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 for the moment will be whether Bitcoin will be able to maintain its current support levels and avoid more significant corrections. Due to continued sell-offs and increased volatility, traders should exercise caution. When navigating these market conditions, patience and careful risk management are crucial, as always.
the last resort
The 200 EMA, the last major support level before a possible deeper market pullback, is quickly approaching for Shiba Inu. The token is currently trading at around $0. 00002171 after experiencing a precipitous 9.6% drop in the last day. For SHIB price action, this level represents a crucial turning point. A quick fall towards $0.00002000, a psychological level that could 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 major support area. If neither level holds, SHIB may enter never-before-seen bearish territory and lose most of its recent gains. The $0.00002350 level remains the first resistance level that SHIB must overcome to have any chance of recovering.
A break above this would target $0.00002500, a crucial level to reverse the market’s uptrend. Profit-taking by large holders and a more general market correction appear to be the main causes of the recent sell-off. Despite its slowdown, SHIB’s speculative appeal and community-driven nature may spark buyer interest again if they see the decline as an opportunity.
SHIB’s ability to hold the 200 EMA is critical going forward. A bounce from this level could trigger a short-term recovery towards $0.00002350. However, if this support does not hold, a longer downtrend is likely, with $0.00001750 as the next safety net. Traders should keep an eye on the upcoming sessions because the token’s next course will likely be determined by how it moves around these crucial levels. Due to the current market volatility, it is advisable to proceed with caution.
gaining traction
In contrast to the overall decline seen among major digital assets, XRP is demonstrating exceptional performance as one of the best performers in the crypto market. XRP has recorded a 1.49% gain in the last day, trading at $2.32, while Bitcoin and other cryptocurrencies face significant declines. In light of difficult market conditions, their resilience is even more astonishing.
Over the past week, Bitcoin 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 drop of 8.42%. has also been hit hard, losing 8.92% over the same period. In light of this, XRP’s relative strength stands out for its ability to sustain and even scale.
With resistance at $2.50 and strong support at $2.10, XRP is consolidating within 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 support at $2.10 is lost, there may be a pullback to $1.90, where the 100 EMA offers more support.
Large volumes of liquidations have worsened the overall market weakness, but XRP appears to have fared better than most during this turmoil. Its recent performance points to growing investor confidence, which may be driven by the market’s distinctive dynamics and hope for its utility.
Going forward, XRP’s ability to maintain its momentum will depend on its ability to overcome the $2.50 resistance while monitoring market developments. In a market that is generally bearish, its current strength sets it apart and suggests that if overall conditions improve, there may be more upside ahead.
