Following a brief decline, Bitcoin is currently showing a moderate recovery at around $96,934. Market sentiment remains cautiously optimistic as Bitcoin integrates near critical support levels. Is Bitcoin ready to go over $100,000? That's still an unresolved question. A retest of the $98,000 resistance level has been revealed in a recent Bitcoin price transfer, with a 50-day EMA currently trading at $98,665.
A bullish push to target psychological resistance for $100,000 can be initiated by successful breaks above this level. However, if $98,000 has not been collected, Bitcoin could return to $93,300, with the 200-day EMA currently offering solid support. Given the power of Bitcoin exceeds $90,000, the general trend remains bullish, but momentum is waning.
The RSI indicator shows that Bitcoin will not be over-acquired or sold, and may move sideways before making a clear breakout. If Bitcoin has support exceeded $95,000 and volume is rising, a push to $100,000 is very possible.
However, bullish setups could be nullified by a drop below $93,000, with Bitcoin vulnerable to an additional downside risk to $85,000. While overall market trends remain positive, Bitcoin needs to convincingly collect $98,000 before it reaches $100,000.
XRP recovery is insufficient
After rising from its key support level of $2.18, XRP has demonstrated a moderate recovery and is currently trading at around $2.45. This upward trend may seem encouraging, but this question about the sustainability of the recovery is raised by a thorough investigation of on-chain data.
Recently, XRP has dropped significantly from its local peak of $3.20, falling to $2.18 before picking up steam again. The next important resistance level is $2.69, but the 50-day EMA is currently serving as short-term support. The stronger momentum of XRP is shown by a clear breakout above this level, which could result in another attempt at the $3.00 level.
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If the current level is not possible, XRP may move to the next critical support that will be located at $1.65, according to the 200-day EMA, and will provide stability. This scenario can occur if the overall market becomes more pessimistic. A big concern with XRP is the obvious decline in network activity.
The data provided shows that the number of transactions executed has dropped significantly, reaching just 693,898 on February 9, 2025. This means investors' profits are declining, and raises doubts about recent price rebounds. While aggressive rallies usually require strong on-chain activity, the reduced volume of transactions suggests that XRP does not have the support needed for long-term survival.
Empire inu pressured by the Cross of Death
The prospect of the death cross is making things worse for Shiba Inu, who is already struggling to recover from recent decline. The Cross of Death usually shows a longer bearish trend when the EMA of 50 is below 200 EMA. Although the technical indicators still don't seem strong enough, Shib is currently trying to recover from the latest lowest value of 0.00001616.
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Over the past few weeks, the value of Shiv has gradually declined, significantly deviating from its recent peak at $0.00002200. 100 EMA is now acting as a resistance after already falling below the important moving average. Shiv could continue to be bearish if it does not exceed $0.00001850. If SHIB cannot exceed the 200 EMA, which is currently $0.00002042, the chances of a death cross are increased.
This pattern has previously resulted in long-term declines in a large number of assets, which is why SHIB is at a critical time. To prevent a greater decline, the Shiv must exceed 50 EMA and continue to break. Momentum may return to the Bulls' favor with a robust recovery.
Over $0.00001850 could indicate a potential trend reversal, but Shiv can see the further downside if below $0.00001500. Investors should also be aware of trading volumes, as low volumes may indicate insufficient purchase support for a genuine recovery.
