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Cryptocurrency News Articles
Bitcoin, Shiba Inu, and XRP Face Uncertain Market Conditions as 2024 Draws to a Close
Jan 01, 2025 at 08:01 am
Bitcoin has lost its main support at the 50 EMA, a level essential to sustaining bullish momentum. This break signals a substantial change in market sentiment and raises the prospect of additional declines as 2025 gets underway.
Bitcoin Loses Key Support, Raising Specter of Further Declines in 2025
Bitcoin has lost its main support level at the 50 EMA as 2024 comes to an end, signaling a substantial change in market sentiment and raising the prospect of additional declines as 2025 gets underway.
The 50 EMA has been a crucial level for Bitcoin throughout 2024, serving as a line in the sand between bullish and bearish momentum. Bitcoin has encountered resistance at the 50 EMA on several occasions throughout the year, indicating that traders have been closely watching this level.
However, Bitcoin has now closed below the 50 EMA for the first time in several months, indicating a significant shift in the market. This break could lead to more selling pressure, particularly if traders expect the downtrend to continue.
The next important support levels are the 200 EMA, which is around $76,160, and the psychological level at $85,457. If Bitcoin is unable to stabilize at these levels, even more severe drops may occur in the first quarter of 2025.
Recent trading session volume profiles point to waning market activity, which makes Bitcoin even more vulnerable. A recovery to retest the 50 EMA appears unlikely in the near future in the absence of strong buying pressure. Nonetheless, it might indicate a brief recovery and reestablish some market confidence if bulls are able to push Bitcoin back above the 50 EMA in the upcoming days.
The Relative Strength Index (RSI) is trending lower while remaining in the neutral zone, indicating that bearish momentum may not yet be exhausted. The outlook is still cautious given the current lack of robust institutional or retail demand. The climate for Bitcoin is going to be difficult in 2025.
A strong catalyst is required by the market to prevent further losses, which could include technical recovery above critical levels such as $96,472, macroeconomic changes or renewed institutional interest.
Shiba Inu Touches Crucial Level as 2024 Ends, Setting Stage for Critical Support Test
Shiba Inu has touched the 200 EMA, which is regarded as a significant support threshold, marking a turning point in its market performance. Although support levels are usually seen as chances for a rebound, it is alarming when the 200 EMA is reached in this situation. Assets falling to this level in the past have frequently indicated a change in momentum and the possibility of a more severe correction.
The 200 EMA has been a crucial level for Shiba Inu throughout 2024, serving as a line in the sand between bullish and bearish momentum. SHIB has encountered resistance at the 200 EMA on several occasions throughout the year, indicating that traders have been closely watching this level.
However, SHIB has now closed below the 200 EMA for the first time in several months, indicating a significant shift in the market. This break could lead to more selling pressure, particularly if traders expect the downtrend to continue.
The next important support levels are the psychological zones around $0.000020 and $0.000018. If SHIB is unable to maintain the 200 EMA as support, a collapse beneath these levels might hasten losses and send SHIB into a bearish trend that might take over in early 2025.
Recent trading session volume profiles indicate traders' lack of confidence even more. The Relative Strength Index (RSI) has also fallen into oversold territory, suggesting that the asset is nearing exhaustion. However, a reversal is not always assured by oversold conditions, particularly when the overall market environment is still unclear.
Although there is some hope for stabilization, the overall technical picture indicates that SHIB is treading carefully. Bulls must swiftly regain higher levels to stop further deterioration, although the road ahead is still difficult.
XRP Struggling at $2 Support Level as 2024 Ends, Setting Stage for Critical Test
XRP is struggling with the crucial $2 support level as 2024 draws to a close, amid investor hesitancy and waning momentum from its most recent bull run. With its current price hovering around $2.03, XRP has not been able to recover above this psychological barrier, suggesting that market sentiment may be changing as the new year draws near.
The $2 mark has served as a pivotal point in XRP's performance, particularly after its spectacular surge earlier this year. But the asset's current inability to maintain this level begs the question of whether the momentum will pick back up in 2025. It looks like XRP is getting close to a critical point as the RSI and declining volume indicate more bearish pressure.
XRP is approaching its 50 EMA, the first significant support level since the start of its enormous rally, according to the technical picture. Historically, the
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