A week-long pattern of lower daily highs suggests bulls are struggling to flip $43,000 into support, potentially dragging down recently rebounding altcoins. Bitcoin (BTC) and Ethereum (ETH) are attempting rebounds from key levels as bulls counter bearish attempts to deepen the correction.
Market Overview
Key Trends:
- BTC and ETH testing critical support levels.
- Whale activity hits record highs, with large transfers exceeding levels seen during BTC’s $60K peak.
- Mixed signals: Smaller whales sell while mega-whales accumulate.
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BTC/USDT Analysis
Bitcoin continues trading between the 100-day SMA ($41,221)** and **20-day EMA ($44,229). Recent rejection at the 20-day EMA indicates persistent selling pressure.
Critical Levels:
- Support: $41,221 (100-day SMA)
- Resistance: $44,229 (20-day EMA) → Breakout could target $46,580 (50-day SMA).
- Breakdown Risk: Fall below $37,332 may trigger panic selling toward $30,000.
ETH/USDT Analysis
Ethereum faces resistance at the 20-day EMA ($3,118)** after bouncing off the **100-day SMA ($2,771).
Key Scenarios:
- Bearish: Failure to hold $2,771 could drop ETH to $2,400 or $1,972.
- Bullish: Surpassing $3,174.50 suggests correction end, targeting $3,676.
Altcoin Spotlight
ADA/USDT
- Range: $1.94–$2.27 (20-day EMA).
- Breakdown Alert: Below $1.94 may lead to $1.40.
BNB/USDT
- Rebound Signal: Strong recovery from $320; RSI divergence hints at weakening bears.
- Upside: $381 (20-day EMA) → $433.
XRP/USDT
- Support: $0.88 (100-day SMA).
- Watch: Break above $0.95 for bullish reversal.
SOL/USDT
- Resistance: $154 (38.2% Fib).
- Critical: Hold $118 (50-day SMA) to avoid panic selling.
DOT/USDT
- Pattern Alert: Neckline of head-and-shoulders at risk.
- Breakdown Target: $12.23 if $22.28 (100-day SMA) fails.
DOGE/USDT
- Range-bound: $0.19–$0.21.
- Breakout Signal: Above $0.22 (20-day EMA) → $0.25.
AVAX/USDT
- Channel Break: Below $52 risks further decline.
- Recovery Path: Hold channel support for $72 retest.
UNI/USDT
- Breakout Attempt: Above $23 (20-day EMA) targets $27.62.
- Support: $21.84 → $17.73 if breached.
FAQs
Q: Will Bitcoin crash below $30,000?
A: Possible if $37,332 support breaks, but whale accumulation could stabilize prices.
Q: Is Ethereum’s correction over?
A: Not until ETH holds above $3,174.50 convincingly.
Q: Which altcoin has the strongest rebound potential?
A: BNB shows RSI divergence and strong rebound from $320, signaling buyer interest.
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Final Note: Monitor BTC/ETH for broader market direction. Altcoins remain volatile but selective opportunities exist for swing traders.
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