U.Today – failed to regain a position above $63,000, which led to a move towards $61,000. Unfortunately, this result paves the way for a drop below $60,000.
Bitcoin is currently trading slightly above a key support level at around $60,885, according to the chart. While the 100 EMA at $63,754 and the 200 EMA at $58,260 are closer to the current price and offer support and resistance levels, the 50 EMA at $66,407 provides distant resistance.
More selling pressure could be on Bitcoin if it fails to close above $63,000. There could be a short-term rally in Bitcoin price as the RSI at 36 suggests the market is approaching oversold territory.
The next major support level, which is around $55,000, could be reached if the price fails to gain momentum and breaks below the 200 EMA at $58,260. Bitcoin needs to stay above the 200 EMA and gain upside momentum to be more bullish.
he lost the battle
XRP failed to break through the $0.48 price threshold and has already fallen below the 26 EMA, which was the aforementioned resistance. Unfortunately, it is unclear how the asset will behave from this point on. Perhaps the answer lies in the general market sentiment that XRP tends to emulate.
XRP needs to maintain its current levels and gain strength to challenge the 50 EMA at $0.5031 to provide a more positive assessment. If XRP were to break above this barrier, it could indicate a possible change in sentiment and allow it to head towards the 100 EMA which is located at $0.51.
The price could rally to $0.55 or more if it holds above these crucial moving averages, which would suggest a stronger rebound and potentially attract more buyers.
The market sentiment as a whole has a massive impact on XRP price fluctuations. Good news or market progress could provide some support for XRP. However, there is not much happening at the moment.
superpower gone
In the past, SHIB’s high volatility has created numerous trading opportunities, attracting speculators and increasing liquidity. However, current market conditions reflect a significant reduction in volatility, which is causing concern among traders and investors.
SHIB is trading around $0.00001691, down significantly from its peak earlier this year. SHIB is below each of the three major moving averages, according to technical indicators. Fortunately, Shiba Inu is on the verge of reaching oversold levels.
The worst part is that SHIB is becoming less attractive to speculative traders as volatility has fallen, resulting in a more stable but uninteresting price movement. While this stability seems beneficial at first glance, it also results in less liquidity and fewer trading opportunities.
In the absence of volatility, traders looking to profit quickly from price swings find SHIB less enticing. In order to restore SHIB’s volatility and attract more traders, a number of conditions must be met.
SHIB could see an enhance in volatility if it manages to break through the 50 EMA and sustain the price above crucial resistance levels. On the other hand, a prolonged period of stagnation could occur if the sideways trend continues and SHIB fails to break above its moving averages. The asset’s appeal would be further reduced in this scenario by a likely drop in trading volume and interest.
