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U.Today – With its most recent performance showing strength above $100,000, it is steadily rising. A more interesting view can be seen on the chart: Bitcoin may be in a hidden downward trend. Despite not creating a bullish sentiment, it has reached a high from its peak towards the end of 2024. Every day the decline of the chart is the most telling sign.
Bitcoin has not made a clear move above this barrier, indicating that there is not enough evidence to support a full uptrend. In order to maintain its uptrend, Bitcoin needs to surpass its previous peak of around $110,000. Its price action remains in a mixed zone until then, and any rejection below this level could strengthen the hidden downside. Bitcoin’s high level is another factor that contributes to the instability. It has not yet reached the levels seen during its previous peaks, despite recent increases.
This would suggest that there is not enough buying power to move Bitcoin past its current resistance. However, Bitcoin’s ability to hold above the 50 EMA and maintain its value around $100,000 gives bulls hope. These levels act as solid support, and a breakout is still possible as long as Bitcoin is above them.
Bitcoin is in a state of change in the near future. The underlying downtrend would be rejected and a return to trading strength would be indicated by a breakout above $110,000. On the other hand, it may confirm a broad correction if it fails to break above the trend line and falls below $9,000.
‘s chance of success
Around $0.40, Dogecoin managed to break through a major resistance level, which indicates that there is a new market trade. In addition, it is attempting to cross the 50 EMA resistance, an important technical barrier that has kept the price low for weeks. There have been two recent attempts to break the EMA 50 with this move. Despite its high encouraging power, DOGE has not yet established itself above this level, so the next few days will be important for its price.
The price of $0.45-$0.50 may be the target for the upside in the future if Dogecoin can find a performance above $0.40 and maintain its momentum above the 50 EMA. This positive view is also supported by sound data. Purchasing pressure has increased markedly, which is necessary for DOGE to continue its current business endeavors. The market is still cautious, however, because a return to the support area around $0.35 is possible if it cannot hold above $0.40.
The bearish trend that existed since mid-December would be terminated if this resistance level were to be broken. A strong breakout would suggest that the bulls are back in control and could lead to a larger rally. If DOGE cannot maintain its position above the resistance, the bears can regain control and push the price to $0.30 or below. In that case, DOGE may enter a long-term consolidation phase.
it is still suppressed
With its price movement showing little optimism for the near future, Ethereum is still struggling in the market. The crypto currency has not yet generated a high momentum and is stuck in a consolidation phase. With the current price around $3,740, Ethereum has failed to regain its previous highs. Near $3,120, it recently recovered from the 200 EMA, which resulted in a brief rally of support.
But it is difficult to break through the resistance levels in the EMA 50 – roughly, the mark of $ 3,557 and $ 3,800. The price has repeatedly failed to close above these key levels, indicating a lack of momentum. A grim picture is also painted by the current volume, which shows little interest in buying and feeds bearish sentiment. The possibility of a deep reversal increases if Ethereum is unable to break through the 50 EMA and gain more than $3,800.
The 200 EMA, which has served as an effective defensive line for ETH so far, is near $3,120, the next important support. If there is a break below this line, further drops are possible, possibly to $2,900 or below. A successful break above $3,800, on the other hand, may reignite the bullish sentiment and bring Ethereum closer to the psychological level of $4,000 and beyond.
