U.Today – With its recent performance showing strength over $100,000, it has been steadily rising. A more interesting view can be seen on the chart: Bitcoin may still be in a hidden downtrend. Although it has not formed a bullish sentiment, it has made a higher rally since its peak in late 2024. The downtrend line on the daily chart is the most telling indicator.
Bitcoin has not made a clear move above this barrier, indicating that there is not enough evidence to support a full uptrend. In order to maintain its upward trend, Bitcoin needs to surpass the previous peak of around $110,000. The price action remains in a mixed zone until then, and any rejection below this level may reinforce the hidden downtrend. Bitcoin's volume profile is another factor that contributes to uncertainty. It has not yet reached the levels observed during its previous peaks, despite the recent increase.
This could indicate that there is not enough intense buying power to move Bitcoin beyond the current resistance. However, Bitcoin's ability to hold above the 50 EMA and maintain its value at around $100,000 gives bulls hope. These levels act as strong support, and a breakout is still possible as long as Bitcoin stays above them.
Bitcoin is at a turning point in the near future. The hidden downtrend will be refuted and a return to bullish momentum will be signaled by a break above $110,000. Conversely, it may confirm a broader correction if it fails to break the trend line and falls below $9,000.
Possible hack
At around $0.40, Dogecoin has successfully broken through a major resistance level, indicating a new uptrend in the market. In addition, it is making an effort to cross the 50 EMA resistance level, an important technical barrier that has kept the price down for weeks. There have been two attempts recently to break the 50 EMA with this move. Despite the encouraging upward momentum, DOGE has not yet established itself above this level, so the next few days will be crucial for its price trajectory.
The $0.45 to $0.50 range could be a target for future upward movement if Dogecoin can gain traction above $0.40 and maintain its momentum beyond the 50 EMA. This positive outlook is also supported by volume data. Buying pressure has increased significantly, which is necessary for DOGE to continue its current bullish attempt. However, the market remains cautious, as a bounce to the support area around $0.35 may happen if it cannot hold above $0.40.
The downtrend that has been in place since mid-December will be invalidated if this resistance level is broken. A strong breakout could signal the bulls are back in control and could lead to a bigger rally. If DOGE is unable to maintain its position above the resistance level, the bears may regain control and push the price down to $0.30 or lower. In this case, DOGE will likely enter a prolonged consolidation phase.
Still oppressive
With price action indicating little hope for the near future, Ethereum continues to face market issues. The cryptocurrency has not produced any noticeable upward momentum and has remained trapped in a consolidation phase. With the current price around $3,740, Ethereum has failed to reclaim its previous highs. Near $3,120, it recently recovered from the 200 EMA, triggering a brief rally to support.
But it is difficult to break through the resistance levels at the 50 EMA – roughly $3,557 and $3,800. The price repeatedly failed to close above these crucial levels, indicating a lack of upward momentum. A dismal picture is also painted by the current volume, which indicates a lack of buying interest and fuels bearish sentiment. The likelihood of a deeper bounce increases if Ethereum is unable to break above the 50 EMA and gain traction above $3,800.
The 200 EMA, which has served as an effective line of defense for ETH so far, is located near $3,120, which is the next important support. If there is a breakdown below this limit, additional declines may be possible, perhaps as high as $2,900 or lower. On the other hand, a successful break above $3,800 could reignite bullish sentiment and bring Ethereum closer to the psychological level of $4,000 or higher.
