PakGazette – Price developments as 2024 draws to a close worries investors. At the 50 EMA, an essential level to maintain bullish momentum, Bitcoin has lost its main support. This breakout signals a substantial shift in market sentiment and raises the prospect of additional declines as 2025 progresses.
A bearish signal, the loss of the 50 EMA could generate more selling pressure, particularly if traders expect the downtrend to continue. The 200 EMA, which is around $76,160, and the psychological level, which is at $85,457, are the next important support levels. Even more severe declines are possible in the first quarter of 2025 if Bitcoin fails to stabilize at these levels.
Volume profiles from recent trading sessions point to a decline in market activity, making Bitcoin even more vulnerable. A rally to retest the 50 EMA seems unlikely in the near future absent strong buying pressure. However, it could signal a brief recovery and restore some confidence in the market if the bulls manage to push Bitcoin back above the 50 EMA in the coming days.
The bearish momentum may not have been exhausted yet, as indicated by the Relative Strength Index (RSI), which is trending lower although remaining in the neutral zone. Given the current lack of strong institutional or retail demand, the outlook remains cautious. The climate for Bitcoin will be difficult in 2025.
The market needs a strong catalyst to avoid further losses, which could include a technical recovery above critical levels such as $96,472, macroeconomic changes, or renewed institutional interest.
hits a crucial level
Shiba Inu has touched the 200 EMA, which is considered a significant support threshold, marking a turning point in the market performance. Although support levels are generally considered bounce possibilities, it is alarming when the 200 EMA is reached in this situation. Assets falling to this level in the past have frequently indicated a change in momentum and the possibility of a more severe correction.
SHIB performed poorly in late 2024 and bulls are having trouble regaining control. The move towards the 200 EMA suggests that SHIB is vulnerable due to a prolonged period of weak demand and selling pressure. A recovery from this level is feasible, but it will take significant buying pressure and fresh market interest to offset the pessimistic outlook.
The decline in activity in volume profiles further accentuates the lack of confidence among traders. The asset may be about to run out of steam because the Relative Strength Index (RSI) has also fallen into oversold territory. However, oversold conditions do not always guarantee a reversal, especially when the overall market environment is still unclear.
The psychological zones around $0.000020 and $0.000018 will be the next levels to watch if SHIB fails to hold the 200 EMA as support. A breakdown below these levels could accelerate losses and send SHIB into a downtrend that could take over in early 2025. Right now, the 200 EMA is the focus.
Although there is some hope for stabilization, the overall technical picture indicates that SHIB is acting cautiously. Although the road ahead remains difficult, bulls must quickly regain higher levels to stop further deterioration.
struggling
Due to a combination of investor hesitancy and waning momentum from its most recent bull run, XRP is struggling with the crucial $2 support level as 2024 comes to a close. With its current price hovering around $2.03, XRP has failed to recover above this psychological barrier, suggesting that market sentiment may be changing as the new year approaches.
The $2 mark has served as a pivotal point in XRP’s performance, especially after its spectacular rise earlier this year. But the asset’s current inability to maintain this level raises the question of whether momentum will pick up again in 2025. It appears that XRP is approaching a tipping point as the RSI and declining volume indicate increased bearish pressure.
XRP is approaching its 50 EMA, the first significant support level since the start of its huge rally, according to the technical outlook. Historically, the 50 EMA has been a crucial level for XRP, often dictating whether the asset recovers or becomes vulnerable to prolonged corrections. The bulls could become more bullish if this level is successfully defended, but a breakout could lead to a more significant pullback towards $1.80 or even $1.50.
At this point, XRP’s trajectory will be heavily influenced by the state of the broader market and investor sentiment. Although there is struggle in the current price action, traders should pay close attention due to the proximity of the 50 EMA. If market conditions improve, a recovery from this level could pave the way for a fresh rally in early 2025.
As the year begins, it will be important to keep an eye on XRP’s performance around $2 and how it interacts with the 50 EMA. The year 2025 is expected to be a pivotal year for XRP, regardless of whether it regains momentum or finds new difficulties.
