Bitcoin, Ethereum, XRP, and Dogecoin Drop Sharply as Investors Face 'Extreme Fear'; Analyst Indicates ETH is in 'Final Stage' of Correction
Cryptocurrency Market Decline: Leading cryptocurrencies, including Bitcoin and Ethereum, experienced significant losses, with over $1 billion in liquidations and the market entering a state of "Extreme Fear."
Trading Volume Surge: Bitcoin's trading volume doubled to $74 billion, while Ethereum's also saw a notable increase, indicating high selling pressure amidst the market downturn.
Stock Market Performance: Major stock indexes closed positively, driven by Amazon's 4% rise following a $38 billion partnership with OpenAI, despite the Dow Jones Industrial Average declining.
Market Predictions: Analysts suggest potential resistance levels for Bitcoin and Ethereum, while cautioning about geopolitical tensions and inflation as risks, with Ethereum possibly entering its final correction stage.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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