Can the Ripple price hold near $2.15, or is the market preparing for another 
move toward lower levels? Ripple is under pressure. XRP is trading near $2.15 
after a 5% decline in the past 24 hours and is now about…

Ripple price slips to $2.15 with room for further downside

Bitcoin continued its downtrend on Monday night, falling under $90K for the 
first time in seven months as a bearish sentiment gets hold of the crypto 
market. Even with the recent downturn and the tailwinds the industry is 
facing, bulls keep being positive. Bitcoin Falls Under $90K as Markets Get 
Into Panic Mode Bitcoin has […]

Bitcoin Dips Under $90K, but Bulls Are Still Unfazed

Solana started a fresh decline below the $145 zone. SOL price is now 
consolidating losses below $140 and might decline further below $130. SOL 
price started a fresh decline below $145 and $140 against the US Dollar. The 
price is now trading below $140 and the 100-hourly simple moving average. 
There is a key bearish trend line forming with resistance at $136 on the 
hourly chart of the SOL/USD pair (data source from Kraken). The price could 
start a recovery wave if the bulls defend $130 or $128. Solana Price Dips 
Further Solana price failed to remain stable above $155 and started a fresh 
decline, like Bitcoin and Ethereum. SOL declined below the $150 and $140 
support levels. The price gained bearish momentum below $138. A low was formed 
at $128, and the price is now consolidating losses. The price recovered a few 
points above the 23.6% Fib retracement level of the downward move from the 
$143 swing high to the $128 low. Solana is now trading below $140 and the 
100-hourly simple moving average. On the upside, immediate resistance is near 
the $136 level. There is also a key bearish trend line forming with resistance 
at $136 on the hourly chart of the SOL/USD pair. The next major resistance is 
near the $140 level or the 76.4% Fib retracement level of the downward move 
from the $143 swing high to the $128 low. The main resistance could be $142. A 
successful close above the $142 resistance zone could set the pace for another 
steady increase. The next key resistance is $150. Any more gains might send 
the price toward the $155 level. Another Decline In SOL? If SOL fails to rise 
above the $140 resistance, it could continue to move down. Initial support on 
the downside is near the $130 zone. The first major support is near the $128 
level. A break below the $128 level might send the price toward the $120 
support zone. If there is a close below the $120 support, the price could 
decline toward the $108 support in the near term. Technical Indicators Hourly 
MACD – The MACD for SOL/USD is gaining pace in the bearish zone. Hourly Hours 
RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. 
Major Support Levels – $130 and $128. Major Resistance Levels – $136 and $140.

Solana (SOL) Extends Sell-Off to $130 as Recovery Attempts Remain Fragile

While Bitcoin (BTC) continues to lose crucial support levels, an analyst has 
shared three possible scenarios for the flagship crypto’s upcoming 
performance, raising the alarm about potential early signs of a bear market. 
Related Reading: Ripple Exec Addresses Tax Issue On XRP Ledger, Where Does It 
Go? Bitcoin Price Correction Continues On Monday, Bitcoin reached a new multi- 
month low after dropping below $93,000 for the first time since May. The 
cryptocurrency started the week dropping nearly 5% from the $96,000 area and 
retesting the $91,000 level as support. Notably, BTC has seen a 16% correction 
from its November opening and has lost multiple crucial levels over the past 
few weeks, including the $100,000 psychological barrier and the 21-Week 
Exponential Moving Average (EMA) as support. Most recently, the flagship 
cryptocurrency closed the week below the 50-week EMA, which has raised the 
alarm for several market observers. Analyst Rekt Capital noted that losing 
this indicator is “not something we typically want to see if bullish Market 
Structure is to remain intact,” adding that “bear markets tend to confirm when 
price loses the key bullish levels that have supported upside momentum across 
the cycle.” He explained that Bitcoin has formed clusters of lower lows at the 
50-Week EMA across the cycle, which have “helped sustain a broader bullish 
technical uptrend.” However, BTC is currently forming another cluster below 
this indicator, instead of approaching the possible macro lower high 
developing above the 50-Week EMA. As a result, BTC’s recent performance 
signals the first step of a potential breakdown, the analyst warned: A full 
breakdown unfolds in three parts: first, a Weekly Close below the key level; 
second, a post-breakdown relief rally that turns that level into new 
resistance; and third, downside continuation that completes the bearish 
confirmation. Early Signs Of A Bearish Trend? Rekt Capital stressed that the 
50-week EMA will be crucial in determining whether BTC’s bullish trend and 
tendency for “benign downside deviations” still hold. He emphasized that if 
the flagship crypto fails to reclaim this indicator as support and it turns 
into a resistance, it could be transitioning from its downside deviation 
tendency to the early stages of a confirmed bearish trend. The analyst 
detailed that during the early bear markets, “a Weekly Close below the 50-Week 
EMA is followed by several weeks of post-breakdown relief rallies into that 
moving average, but those attempts ultimately fail, and the EMA simply acts as 
resistance until downside acceleration unfolds.” Based on this, he shared 
three potential outlooks for BTC’s performance. The best-case scenario for 
Bitcoin would be reclaiming this indicator and successfully ending this 
correction as a downside deviation, as it would suggest that BTC remains in a 
bull market. The second-best case scenario would be that Bitcoin sees a multi- 
week hesitation period below the EMA as it enters the bear market, which could 
include a brief overextension above this level before a clearer trend 
resolution to the downside. Related Reading: Bitcoin Price Just Flashed A 
Death Cross, But It’s Not What You Think Meanwhile, the worst-case scenario 
would see the cryptocurrency’s price unable to retest the 50-Week EMA, even as 
resistance, and directly enter the downside acceleration phase. Nonetheless, 
the analyst noted that, historically, the third scenario doesn’t appear as 
likely if we have already entered a bear market. Instead, he concluded that 
the recurring “relief-rally scenario” into the 50-week EMA before downside 
continuation seems more likely. Featured Image from Unsplash.com, Chart from 
TradingView.com

Analyst Shares Worst-Case Scenario For Bitcoin (BTC) As Price Shows Concerning Signs

Mt. Gox&#8217;s Bitcoin movement signals potential progress in creditor repayments, 
impacting market dynamics and creditor trust restoration.
The post Mt. Gox moves $936M in Bitcoin after eight-month dormancy appeared 
first on Crypto Briefing.

Cryptocurrency price in IDR