Trendlines that may be missed by many market participants indicate that Bitcoin is displaying a subtle but noticeable upward trend. The asset is continuing to rise despite a few recent declines, and it is showing important levels that traders should keep a careful eye on. 

The $99,500 range is the first level to keep an eye on because it coincides with a crucial trendline that has helped to stabilize the price movement of Bitcoin in recent months. The current upward trend is based on this level, which signals intense buying interest whenever the price gets close to it. 

BTC/USDT Chart by TradingView

Bitcoin's bullish argument is strengthened by a hold above this level. The resistance at $107,000, a psychological barrier that Bitcoin recently tested, comes next. A surge of bullish sentiment would probably be triggered if the asset broke through this level - even though recent attempts to do so failed. This level represents a possible breakout point for additional gains because it coincides with the upper boundary of the indicated ascending trendline. Finally, the pivot level of $102,000 marks the middle of the current trading range for Bitcoin.

HOT Stories Secret Bitcoin (BTC) Uptrend: 3 Levels to Watch, This Can End XRP Price Rally, Dogecoin (DOGE) Receives Massive Helping Hand Ripple CEO Addresses Accusations of Lobbying Against Bitcoin Crypto Billionaire Novogratz: 'AI Is the New Arms Race' 'We Are Going to Mars,' Michael Saylor Says As Bitcoin Regains $106,800

It is a key factor in determining momentum in the short term. A drop below might indicate a brief consolidation or a retest of the $99,500 support, while sustained price action above $102,000 would probably encourage buyers to push the price higher. Based on its positioning above important exponential moving averages and ascending trendlines, the overall technical picture indicates that Bitcoin is firmly in an uptrend. Despite market volatility and macro uncertainties, this structure shows that investors are becoming more confident. 

XRP's rally in danger

Recently, XRP has formed a lower high, indicating possible trouble for its current rally. When the price peaks below the previous high, it is a bearish pattern that frequently signals waning momentum and the potential for a reversal.

XRP's lower high around $3.20 on the chart indicates that resistance levels are getting more difficult to overcome. This is an important psychological level, and if higher prices are not pushed, buyers may be deterred from making a strong move. In order to prevent a further decline, the asset must hold onto critical support levels like $2.75, which are getting closer.

Related
Thu, 01/23/2025 - 14:16 Shiba Inu (SHIB) Price on Verge of Finding Second Bottom
Gamza Khanzadaev

A lower high formation may have a domino effect on market sentiment. It frequently means that buyers are less inclined to drive prices to all-time highs as selling pressure on the asset's bullish energy increases. 

Losses could worsen if this pattern continues, as it may result in a declining trend. In spite of this, the price of XRP is still above important exponential moving averages such as the 50 EMA, and the overall trend is encouraging. But in order for the asset to regain its bullish momentum, these levels must be maintained. A decline beneath $2.75 might be the start of a more substantial correction.

Dogecoin aims for growth

Dogecoin is demonstrating tenacity as it recovers close to the bottom of its rising channel. Traders are closely watching the asset's performance at this point because this crucial support level has served as a starting point for upward moves in the past. However, whether DOGE maintains this support or experiences a possible retracement will depend on its capacity to sustain its bullish trajectory. 

DOGE is currently trading at about $0.35, holding onto the lower edge of its upward channel, which is supported by the 50-day EMA. The rally's sustainability is called into question due to the lack of significant upward momentum, even though it maintains this structure. The lower boundary of the ascending channel offers a crucial floor, but it is frequently weakened by repeated testing, raising the possibility of a breakdown.

Related
Tue, 01/21/2025 - 14:27 Dogecoin (DOGE) Sees Surge in $1 Million Transactions; What's Happening?
Tomiwabold Olajide

Because of the moderate volume levels, there may not be much buying pressure pushing DOGE higher. Near $0.31, or the 100-day EMA, is the next crucial support level if the asset is unable to maintain its position within the channel. Should DOGE break through this support, it might be the start of a more significant correction that could push it closer to the $0.25 range. 

If DOGE wants to restore its bullish confidence, it must overcome the $0.40 resistance. Reaching this goal would suggest that buyers are once again interested, and it might pave the way for a run toward earlier highs around $0.50. The asset may enter a longer period of consolidation if there is a break below the ascending channel, which could deter investors. 

Dogecoin's low ranking in its channel provides some hope for the time being, but its future hinges on its ability to generate enough demand to offset selling pressure. Traders should be ready for both a breakout and a possible decline below key levels as the market keeps an eye on its movements.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。