U.Today has failed to regain its position above the $63,000 mark, which has led it to approach $61,000. Unfortunately, this result paves the way for a fall below $60,000.
At the moment, Bitcoin is trading slightly above the crucial support level at around $60,885, as per the chart. While the 100-day EMA at $63,754 and the 200-day EMA at $58,260 are closer to the current price and offer support and resistance levels, the 50-day EMA at $66,407 offers distant resistance.
More selling pressure is likely to be applied to Bitcoin if it fails to close above $63,000. There may be a brief rally in Bitcoin price as the RSI at 36 suggests that the market is approaching the oversold territory.
The next major support level, found around $55,000, could be reached if the price fails to gain momentum and falls below the 200 EMA at $58,260. Bitcoin needs to stay above the 200 EMA and gain upward momentum for a more bullish outlook.
has lost the battle
XRP has failed to break through the $0.48 price threshold and has already fallen below the EMA 26, which represented the aforementioned resistance. Unfortunately, it is unclear how the asset will act from now on. Perhaps the answer lies in the overall market sentiment, which XRP tends to follow.
XRP needs to hold its current levels and gain strength to be able to challenge the 50 EMA at $0.5031 to provide a more positive estimate. If XRP were to break above this barrier, it could signal a possible change in sentiment and allow it to head towards the 100 EMA, which is located at $0.51.
The price could move towards $0.55 and higher if there is consistent trading above these important moving averages, which would suggest a stronger recovery and possibly attract more buyers.
The mood of the market as a whole has a huge impact on XRP price fluctuations. Good news or market developments can provide some support to XRP. However, there is not much happening at the moment.
's superpower is gone
In the past, SHIB’s high volatility created numerous trading opportunities, attracting speculators and increasing liquidity. However, current market conditions reflect a significant reduction in volatility, causing concern among traders and investors.
SHIB is trading at around $0.00001691, which represents a significant decline from its peak earlier this year. SHIB is below each of its three main moving averages, according to technical indicators. Fortunately, Shiba Inu is on the verge of reaching oversold values.
The worst thing is that SHIB is losing appeal for speculative traders as a result of decreasing volatility, which has resulted in a more stable but more monotonous price movement. While this stability seems to be advantageous at first, it also results in lower liquidity and fewer trading opportunities.
In the absence of volatility, traders looking to make quick profits from price fluctuations find SHIB less attractive. In order to restore SHIB's volatility and attract more traders, a number of conditions must be met.
SHIB could experience increased volatility if it manages to break above the 50 EMA and sustain its price above significant resistance levels. On the other hand, a prolonged period of stagnation may occur if the sideways trend continues and SHIB fails to break above its moving averages. The asset’s attractiveness would be further reduced in this scenario by a likely decrease in trading volume and interest.
This article was originally published on U.Today
