Pakinomist – After coming back below the psychological $100,000 threshold, investors have been wondering if this is a short-term drop or a more significant change in the market. Right now, Bitcoin is trading at around $95,933, down 1.04% from the previous day. After a robust rally that nearly brought Bitcoin to its all-time high, there has been a correction.

The upward trend line established during its late 2024 rally has clearly broken out on the chart. Buyers appear to be losing steam, indicating a loss of momentum. As overly leveraged positions are liquidated, a noticeable increase in selling pressure has also resulted in significant liquidations in the futures market. As the market is 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 retracement. The $92,500 and $87,500 levels are important support levels to watch because they can serve as re-entry points for buyers. On the other hand, resistance at $100,000 is likely to be a major obstacle to be overcome by strong market sentiment.

There are also challenges facing the larger cryptocurrency market, and macroeconomic uncertainty is one of them. But given Bitcoin’s solid fundamentals — which include 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 at the moment will be whether Bitcoin can hold on to its current support levels and avoid more significant corrections. Due to the continued liquidations and increased volatility, traders should exercise caution. When navigating such market conditions, patience and careful risk management are, as always, essential.

last resort

The 200 EMA, the last important support level before a possible deeper market retracement, is fast approaching for the Shiba Inu. The token is currently trading at around $0. 00002171 after experiencing a sharp drop of 9.6% in the last 24 hours. For SHIB’s price action, this level represents a crucial turning point. A quick decline towards $0.00002000, a psychological level that could attract buyers, could be the result of losing the 200 EMA, which has historically acted as strong support.

After that, $0.00001750 becomes the next important support area. If neither level holds, SHIB could enter previously unheard of bearish territory and lose most of its recent gains. The $0.00002350 level is still the first resistance level that SHIB needs to overcome to have any chance of recovery.

A break above this would target $0.00002500, a crucial level to reverse the market trend to bullishness. Profit-taking by larger holders and a more general market correction appear to be the main reasons for the recent sell-off. Despite its downturn, SHIB’s speculative appeal and community-driven nature may rekindle buyers’ interest if they see the decline as an opportunity.

SHIB’s ability to hold the 200 EMA is crucial 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 ahead, with $0.00001750 acting as the next safety net. Traders should keep a close eye on the next sessions because the token’s next course will likely be determined by how it moves around these crucial levels. Due to the ongoing market volatility, it is advisable to proceed with caution.

gaining traction

Contrary to the general decline observed among leading digital assets, XRP demonstrates exceptional performance as one of the top performers of the crypto market. XRP has registered an increase of 1.49% in the last day and is trading at $2.32, while Bitcoin and other cryptocurrencies are facing significant declines. In light of the difficult market conditions, its resilience is even more astonishing.

Over the past week, Bitcoin has lost 5.4% of its value, falling below the crucial $100,000 mark. Ethereum, which is currently trading at $3,365, is also experiencing a weekly decline of 8.42%. has also been hit hard, 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 within a triangle pattern on the technical side. A break above $2.50 could push XRP closer to $3.00, a crucial technical and psychological level. If the $2.10 support is lost, there could be a retracement to $1.90 where the 100 EMA offers more support.

Large volumes of liquidations have exacerbated overall market weakness, but XRP seems to have fared better than most during this upheaval. Its recent performance points to rising investor confidence, which may be fueled by its distinct market dynamics and hopes 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 general conditions improve, there could be more upside ahead.