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Author: Godspower Owie

Bitcoin Bearish Move: Indicators Suggest Next Stop Could Be $53,541

Bitcoin faces mounting pressure as crucial indicators signal a potential drop to the $53,541 mark. With sellers gaining momentum and technical charts flashing red, the cryptocurrency is struggling to find a foothold in a volatile market. Traders are watching closely to see if the bearish trend will continue or if a reversal is on the horizon as BTC hovers near critical support levels. The next few days could be crucial in determining Bitcoin’s short-term trajectory. As Bitcoin faces increasing selling pressure, this article explores the recent bearish signals affecting its price movement, analyzing key technical indicators that suggest a potential drop to $53,541. By examining the critical support levels to watch, insights into whether BTC will find stability or continue its slide will be provided. As of the time of writing, Bitcoin was trading at approximately $56,691, reflecting a 4.04% decline with a market capitalization exceeding $1 trillion and a trading volume surpassing $31 billion. Over the past 24 hours, BTC’s market cap has dropped by 3.96%, while trading volume has surged by 22.55%. Analyzing BTC’s Recent Price Action And Key Indicators On the 4-hour chart, Bitcoin has displayed strong bearish momentum below the 100-day Simple Moving Average (SMA) following its failure to break above the $60,152 mark. The price is now attempting to fall toward the $53,541 mark. If the cryptocurrency successfully breaches this key level, it could begin a more pronounced downtrend, potentially driving the price down to other crucial support levels. Additionally, on the 4-hour chart, the Relative Strength Index (RSI) has slipped below the 50% mark, currently resting at 32%. This decline highlights growing bearish momentum and suggests that selling pressure could intensify. On the daily chart, BTC is showing significant negative movement below the 100-day SMA by printing two bearish momentum candlesticks. This downbeat surge reflects strong selling pressure and negative market sentiment, increasing the likelihood of BTC reaching the $53,541 mark soon. Finally, the 1-day RSI shows that bearish pressure on BTC is intensifying. The signal line has recently dropped below 50%, now resting at 39%, which also signals growing selling pressure and a pessimistic sentiment for the digital asset. Investor Outlook: Preparing For Bitcoin Potential Downside With bearish pressure mounting and key indicators pointing to further declines, Bitcoin appears poised to drop to the $53,541 mark. Should the cryptocurrency breach this level, it could signal a more significant pessimistic move, potentially driving the price down to the next support at $50,604 and beyond. However, if Bitcoin hits the $53,541 support level and the bulls manage to stage a comeback, the price could start moving upward toward the $60,152 resistance mark. A successful breach of this resistance might lead BTC to test its all-time high of $73,811, with the potential to set a new record if it surpasses this level. Featured image from iStock, chart from Tradingview.com

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AVAX On Thin Ice: $21.73 Support Under Siege Whats Next?

Author: Godspower Owie

United Kingdom

Source: NewsBTC

Aug 04, 2024 12:05

AVAX On Thin Ice: $21.73 Support Under Siege Whats Next?

Recent market activities for Avalanche (AVAX) indicate that the bears have gained control over the market, pushing the cryptocurrency toward a critical price target of $21.73. With the bears dominating and market sentiment leaning heavily toward further declines, the $21.73 level has become a key point of interest for market participants. This analysis delves into AVAX’s current bearish trend by examining key technical indicators such as Moving Averages and the Moving Average Convergence Divergence (MACD). Additionally, it highlights the significance of the $21.73 support level and its potential impact on AVAX’s price movement As of the time of writing, AVAX’s price has decreased by 4.67%, trading at approximately $23.75 over the past 24 hours. The cryptocurrency has a market capitalization of $9 billion and a trading volume of $331 million. AVAX’s market cap has declined by 6.37% in the past day, while its trading volume has increased by 15.60%. Analyzing Recent Price Trends And Performance Of AVAX Avalanche has shown significant bearish strength, with multiple bearish candlesticks forming below the 4-hour 100-day Simple Moving Average (SMA). This indicates bearish dominance and suggests continued downward pressure, potentially leading to further declines toward $21.75. Also, on the 4-hour chart, both the signal line and the MACD line of the Moving Average Convergence Divergence (MACD) are trending below the zero line and are currently attempting to move into the oversold zone. This supports the potential for continued downward movement in AVAX’s price. Technical analysis on the 1-day chart reveals that AVAX has been on a bearish trajectory toward a critical support level at $21.75, marked by the formation of multiple bearish candlesticks. Furthermore, the crypto asset’s price is trading below the 100-day SMA, suggesting a bearish market sentiment. Looking at the 1-day chart, it can be observed that the Signal line has crossed below the MACD line and both have recently dropped below the zero line, which implies a continued bearish trend and indicates the chance for further price declines. Significance Of The $21.73 Support Level Assessing the significance of the $21.73 support level suggests that: If AVAX reaches this level, it might break through or consolidate and retrace. A successful break below could lead to further price decline, potentially driving the asset toward the $18.83 support level and beyond. However, if the price consolidates and retraces upward upon reaching the $21.73 support level, it will begin to climb toward the $30.34 resistance point. Should the price break through this range, it could lead to further gains, testing a higher resistance level at $37.29 and potentially increasing bullish sentiment. Featured image from Adobe Stock, chart from Tradingview.com

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Dogecoin Set For A Drop: Bearish Forces Eye $0.0914 Target

Author: Godspower Owie

United Kingdom

Source: NewsBTC

Aug 28, 2024 12:05

Dogecoin Set For A Drop: Bearish Forces Eye $0.0914 Target

Dogecoin (DOGE) recent attempt to regain upward momentum has been abruptly halted as bearish forces reassert their dominance. After a brief rally, the popular meme coin is now under renewed selling pressure, with the price set to retreat toward the $0.1 mark. As negative momentum strengthens, the question is whether Dogecoin can hold this critical level or if further declines are imminent. This article analyzes the recent shift in Dogecoins price dynamics as bearish momentum resurfaces. We will explore the sudden reversal, assess key technical indicators, and evaluate whether the $0.1 support level can withstand the pressure or if Dogecoin is poised for deeper decline. As of the time of writing, Dogecoin is trading at approximately $0.1059, reflecting a 3.42% decline. The cryptocurrency boasts a market capitalization exceeding $15 billion, with a trading volume surpassing $535 million. Over the past 24 hours, DOGEs market capitalization has seen a 3.57% decrease, while trading volume has dipped slightly by 0.83%. Market Sentiment: Bears Tighten Grip On Dogecoin On the 4-hour chart, Dogecoin has displayed strong downbeat momentum following its failure to break above the bearish trendline. The price is now attempting to fall below the 100-day Simple Moving Average (SMA). If DOGE successfully breaches this key level, it could begin a more pronounced downtrend, potentially driving the price down to the next crucial support at $0.0914. Additionally, on the 4-hour chart, the Relative Strength Index (RSI) has slipped below the 50% mark, currently resting at 41%. This decline highlights growing bearish momentum and suggests that selling pressure could intensify. On the daily chart, Dogecoin shows significant negative movement below the 100-day SMA by printing two bearish momentum candlesticks. This bearish surge reflects strong selling pressure and negative market sentiment, increasing the likelihood of DOGE reaching the $0.0914 target soon. Finally, the 1-day RSI shows that bleak pressure on DOGE has returned. The signal lines upward attempt was cut short at 56% before falling below the 50% mark, now resting at 47%, intensifying selling pressure and a growing pessimistic sentiment for the digital asset. $0.0914 In Sight: Will This Key Support Level Hold? Exploring the significance of the $0.0914 support level and its potential to withstand bearish pressure reveals that if the price reaches this level and breaks below, the crypto asset will continue to move downward toward the $0.0745 support. Should the price fall through this level, it may drop to test the $0.0559 support mark and potentially move lower to explore additional support levels. However, if DOGE reaches the $0.0914 support range and bulls stage a comeback, the price could climb toward the $0.1293 resistance level. When it breaks through this resistance, the cryptocurrency may continue to rise, possibly targeting the $0.1491 resistance range and other higher levels. Featured image from iStock, chart from Tradingview.com

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Chainlink At Risk: Key Indicators Signal Further Losses To $12

Author: Godspower Owie

United Kingdom

Source: NewsBTC

Aug 02, 2024 12:05

Chainlink At Risk: Key Indicators Signal Further Losses To $12

Chainlink (LINK), one of the major players in the decentralized finance space, is currently facing increased bearish pressure in the market. As LINK’s bearish momentum continues to build, key technical indicators are signaling the potential for further loss toward the critical support level at $12 for the cryptocurrency. With this current price movement, Chainlink could continue to decline, testing lower support levels in the near future, unless there is a significant reversal in market sentiment. This article provides an in-depth analysis by evaluating the current market sentiment around Chainlink, examining key technical indicators, and identifying critical support levels along with their implications for LINK’s price stability. As of the time of writing, it had a market capitalization of over $7.7 billion and a trading volume of over $243 million.LINK was down by 3.75%, trading at around $12.82. In the last 24 hours, both the assets market cap and trading volume have declined by 3.72 and 1.67, respectively. Assessing Current Market Sentiment Around Chainlink Considering the asset’s price movements, it seems the current market sentiment around LINK is still negative. The price, currently, is actively trading below the 100-day Simple Moving Average (SMA), heading toward the $12 mark on the 4-hour chart. This suggests that the bearish trend might continue. With more selling pressure, this position indicates that Chainlink is likely to decline further as long as it remains below the SMA. The 4-hour Relative Strength Index (RSI) signal line has successfully dropped below 50% into the oversold zone. This suggests that selling pressure is growing, and the asset might experience further downward movement towards the $12.44 level. On the 1-day chart, LINK’s market sentiment is also negative, with the price trading below the 100-day SMA. LINK is showing a bearish trend as it moves toward the $12.44 support level, having formed two bearish candlesticks. If the price breaks below this key level, it could signal further bearish momentum and potentially drive the price toward other support levels. Finally, the 1-day RSI has also dropped below 50%, which further supports the possibility of further price drop. This decline suggests that bearish pressure is rising, as sellers are still active and influential in the market. The fact that sellers are still active implies that LINK will probably continue to decline. Identifying Critical Support And Resistance Levels Chainlink is currently on a bearish path, heading toward the $12.44 support level. If the price breaks and closes below the $12.44 support level, it may continue its bearish movement toward the next support range at $11.10 and possibly even lower levels. However, if the digital asset encounters resistance at $12.44 and fails to break below, it could lead to a potential upward move, reaching the $15.25 resistance mark. Should the price rise above this level, further gains could occur, targeting the $17.96 resistance point and beyond. Featured image from YouTube, chart from Tradingview.com

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FET At Risk Of Further Decline? RSI Signals Sustained Bearish Pressure

Author: Godspower Owie

United Kingdom

Source: NewsBTC

Oct 05, 2024 12:05

FET At Risk Of Further Decline? RSI Signals Sustained Bearish Pressure

Recent price action is painting a bearish picture for FET, with the Relative Strength Index (RSI) signaling the potential for further declines. As the RSI hovers in bearish territory, the momentum seems to be favoring sellers, raising concerns of a deeper downturn. In the midst of the intensifying downside pressure, attention is shifting to the critical $0.9 support level. Holding this level is crucial for avoiding additional losses, as a breakdown could lead to more significant declines. With current market sentiment suggesting more losses may be in store, this article aims to analyze the ongoing bearish extension in FET, focusing on how the RSI signals increased bearish pressure. By examining key technical indicators and market trends, this piece will explore whether FET is likely to experience more declines or if any potential support levels could trigger a rebound. RSI Signals Growing Downside Momentum For FET FET has recently shifted into bearish territory on the 4-hour chart, slipping below the 100-day Simple Moving Average (SMA) and heading toward the critical $0.9 support level. This decline below the 100-day SMA signals weakening momentum, with sellers gaining control over the market. An analysis of the 4-hour Relative Strength Index reveals that the signal line has decreased below 50%, and it is currently at 37%, reflecting increased selling pressure and diminishing buying interest. With the RSI in this territory, this points to the possibility of further downside movement for FET, highlighting a lack of bullish conviction in the market. Related Reading: FET: 30% Breakthrough Draws Investor Attention As New Developments Roll Out Furthermore, FET on the daily chart is displaying negative momentum after struggling to surpass the $1.8 resistance level. This struggle is highlighted by the formation of multiple bearish candlesticks, signaling persistent selling pressure in the market. Although the price remains above the 100-day SMA, which typically indicates a bullish trend, the inability to break through the $1.8 resistance suggests that upbeat strength is weakening, and FET could be poised for extended losses. A closer examination of the RSI formation on the 1-day chart indicates that the RSI signal line has dropped to 44%, recently falling below the important 50% threshold. Typically, an RSI reading below 50 suggests a bearish sentiment, indicating that the asset is losing steam. Such a decline could signal potential deeper corrections for FET unless a reversal is observed. Key Support Levels To Watch Amid Bearish Sentiment With bearish sentiment prevailing in the market, the $0.9 support level has become particularly crucial for FET. A breach below this level could ignite heightened selling pressure, possibly driving the price down toward the $0.4 support mark and beyond. Related Reading: FET Price Targets $3.4 After Breakout, Here Are The Key Levels To Watch If FET can maintain its strength and stay above the $0.9 support level, it may pave the way for a rebound, allowing the price to drift back toward the $1.8 resistance zone. A successful breakout above this key resistance level could spark a surge in buying activity, resulting in further gains as bullish momentum builds. Observing how FET reacts to these levels will be crucial, as they will indicate whether a recovery is on the horizon or if bearish pressure will reassert itself. Featured image from Medium, chart from Tradingview.com

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LayerZero Under Intensified Bearish Pressure, Halting Recovery Efforts

Author: Godspower Owie

United Kingdom

Source: NewsBTC

Oct 21, 2024 12:05

LayerZero Under Intensified Bearish Pressure, Halting Recovery Efforts

LayerZero (ZRO) is currently experiencing a tumultuous phase as its recent recovery attempts falter amid mounting bearish pressure. After initially showcasing potential, the altcoins upward momentum has stalled, leading to a possible downturn. With key support levels at risk and bearish forces gaining traction, the outlook for LayerZeros recovery appears increasingly uncertain. In this article, we will analyze LayerZero’s recent challenges, focusing on its stalled recovery amid intensified bearish pressure. It examines key technical indicators and market sentiment contributing to the downturn, providing insights into how these factors may impact ZRO’s price trajectory. Additionally, the article assesses critical support levels that could affect the token’s ability to navigate the current environment and explore the prospects for a potential rebound in the midst of ongoing market challenges. Current Market Landscape: Understanding The Bearish Pressure Recently, ZRO’s price has shown a bearish turn on the 4-hour chart, retracing below the 100-day Simple Moving Average (SMA) after struggling to break above this key technical level. This inability to maintain upward momentum suggests a shift in market sentiment, with selling pressure outweighing buying interest. An analysis of the 4-hour Relative Strength Index (RSI) shows a decline in the signal line, which has fallen to 44% after previously rising to 47%, indicating a shift in strength toward the neutral zone. A level of 44% means that the asset is nearing oversold territory, raising concerns about possible further declines. Related Reading: LayerZero Bounces Amid Market Retrace, ZRO Soars 20% Also, the daily chart for LayerZero reveals negative momentum, highlighted by multiple bearish candlesticks and a drop below the 100-day SMA. The formation of several pessimistic candlesticks and the breach below the SMA suggest that negative sentiment is strengthening as sellers exert downward pressure. Finally, on the 1-day chart, the RSI has declined below the crucial 50% threshold, currently sitting at 44%. A reading under 50% implies that sellers are gaining dominance, which may lead to the asset approaching oversold territory and heightening concerns about more price declines. Whats Next For LayerZero? Based on current market activities, the price of LayerZero appears poised for an additional drop toward the $3.5 support level. If it breaches this level, it could lead to an extended downward movement for the cryptocurrency, pushing it toward other significant support levels. Related Reading: LayerZero Surges over 7% As Bulls Ignite Fresh Rally, A $4.5 Breakout Looms? However, if ZRO’s price stabilizes and regains bullish momentum, it may climb toward the $4.5 resistance mark. Should it successfully breach this level, it could lay the foundation for further gains, potentially targeting even higher resistance levels as market sentiment shifts back in favor of the bulls. Featured image from Shutterstock, chart from Tradingview.com

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BNB Under Siege: Failed Recovery Sparks Fears of Deeper Losses

Author: Godspower Owie

United Kingdom

Source: NewsBTC

Oct 12, 2024 12:05

BNB Under Siege: Failed Recovery Sparks Fears of Deeper Losses

BNB finds itself under renewed selling pressure as a recent recovery attempt falls short, leaving the cryptocurrency vulnerable to further losses. Despite a brief upward movement, BNB’s failure to break through key resistance levels has sparked concerns about a deepening decline. With technical indicators signaling potential weakness ahead, the question now is whether the token can regain its footing or if further losses are inevitable. As bearish sentiment intensifies, this analysis aims to evaluate the technical indicators signaling weakness in BNB’s price action and assess whether the asset can stage a recovery or face more declines. By exploring key support levels, market sentiment, and price trends, the goal is to determine BNB’s next move and the likelihood of a bullish reversal or sustained bearish momentum. Key Technical Indicators Flash Warning Signs BNB has recently entered pessimistic territory on the 4-hour chart, dipping just below the 100-day Simple Moving Average (SMA) and approaching the crucial $531 support level. This drop below the 100-day SMA indicates weakening strength, and with sellers taking control, the cryptocurrency faces the potential for more losses. An analysis of the 4-hour Relative Strength Index (RSI) shows that the signal line has dropped below the 50% threshold toward 42%, suggesting that buying pressure is waning, as the RSI moves deeper into bearish territory. Typically, an RSI reading below 50% implies that sellers are gaining control, which could lead to downward pressure on the price. Related Reading: BNB Battles Persistent Bearish Pressure, Will $500 Be The Next Stop? After facing resistance at $587, BNB has shown significant downbeat movement on the daily chart, marked by the formation of a strong bearish candlestick. The price has now fallen toward the 100-day SMA, signaling mounting selling pressure. If the negative trend continues, BNB may experience additional declines, leading to a reduction in buying interest. Furthermore, a closer look at the RSI on the 1-day chart shows that the signal line has once again dropped below the 50% threshold, now sitting at 48%, after previously rising above it. Unless the bulls step in to shift momentum, the market could be set for more drops, as the current RSI level suggests weakening buying strength and heightened bearish control. Trading Strategy: Navigating BNB Bearish Pressure BNBs recent price action indicates potential continued declines if downbeat momentum intensifies. If the price hits the critical $531 mark and closes below it, this could pave the way for further losses, possibly driving the asset down toward the $500 level. Related Reading: BNB Price Tops $600: Can the Rally Continue? However, should buyers step in and regain control at the $531 level, there is a chance for a bullish reversal and the price will start moving upward toward the 605 resistance level, especially if the RSI shows signs of recovery. Featured image from Shutterstock, chart from Tradingview.com

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CATEGORY: bearish candlesticks

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Source: NewsBTC

United Kingdom

Source: NewsBTC

United Kingdom

Source: NewsBTC

United Kingdom

Source: NewsBTC

United Kingdom

Source: NewsBTC

United Kingdom

Source: NewsBTC

United Kingdom

Source: NewsBTC

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