Below $102K, ETEREMum and XPG struggle
Bitcoin and Eheeumum are struggling to stay above the support zones until another selling wave hits the market. More than this month, it is increasing its significant power, and the clock is ticking for a strong recovery.
Bitcoin recently bounced back near $104,000 and bounced back to $102,000. The latest one below can cost around $98,000 with the door down. That region has often acted as a supporter, but repeated exposure often makes them invulnerable.
Bitcoin Faces “Make or Break”
Price action on the daily chart shows a consistent pattern of lows and lows. Bitcoin has bounced back above $104,000 after $106,000, the next stop may be below $100,000.
The current setup pools where a “death cross” is possible – a point where the short-term moving average slides over the long-term. Such artefacts are often devalued before any recovery attempt is made.
If the $98,000 support holds, the short shields will remain. The lost ground above $104,000 will bring the hope of knowledge again after $104,000, but the momentum should return quickly.
Emmerium to regain strength
Etherum is showing similar weakness. After a brief recovery from around $3,000, the coin is likely to lose again with resistance above $3,700. A move beyond that could see the first step towards a recovery, but for now the market remains cautious.
If selling continues, the E native may re-visit the 2,800 zone on mid-term interest several times this year. The coin will be placed in a tight range with limited volume.
Inclusions grow as a precaution
Some small phones are showing constant or small researchers, but the top of the overall market is soft. They tried to raise some talk, but they didn't do enough to change the broad direction.
Most of the digital resources in the top two charts are easy to move while maintaining the net speed.
A look at the coming days
The next few days can decide whether Bitcoin and Ethereum hold their ground or they can decide to go lower. A strong buy near the current support zones will provide some relief, but a break below may cause another correction.
At $104,000 above $3,700, Etherum remains in focus this week. If that happens, the market could go back to the second half of November.
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